Pieter Wuille [ARCHIVE] on Nostr: 📅 Original date posted:2014-04-23 📝 Original message:On Wed, Apr 23, 2014 at ...
📅 Original date posted:2014-04-23
📝 Original message:On Wed, Apr 23, 2014 at 5:34 PM, Kevin <kevinsisco61784 at gmail.com> wrote:
> I have some questions:
> 1. How can we work towards solving the double-spending problem?
We have this awesome technology that solves the double-spending
problem. It's called a blockchain. Of course, it only works when
transactions are actually in a block.
This issue is about double-spending preventing before they're
confirmed. This is (and has always been) just a best-effort mechanism
in the network.
> 2. Is it possible to "scan" for double-spending and correct it?
That is what is being proposed here, by introducing a mechanism where
miners can vote to penalize other miners if they seem to allow (too
many?) double spends.
> 3. Is the network at large not secure enough?
Not very relevant.
--
Pieter
📝 Original message:On Wed, Apr 23, 2014 at 5:34 PM, Kevin <kevinsisco61784 at gmail.com> wrote:
> I have some questions:
> 1. How can we work towards solving the double-spending problem?
We have this awesome technology that solves the double-spending
problem. It's called a blockchain. Of course, it only works when
transactions are actually in a block.
This issue is about double-spending preventing before they're
confirmed. This is (and has always been) just a best-effort mechanism
in the network.
> 2. Is it possible to "scan" for double-spending and correct it?
That is what is being proposed here, by introducing a mechanism where
miners can vote to penalize other miners if they seem to allow (too
many?) double spends.
> 3. Is the network at large not secure enough?
Not very relevant.
--
Pieter