Author: Pieter Wuille 2014-04-23 15:41:26
Published on: 2014-04-23T15:41:26+00:00
A question was asked by Kevin about how to solve the double-spending problem. The response was that blockchain technology is the solution to this issue. However, it only works when transactions are in a block. The issue of double-spending can be prevented before they are confirmed, but it has always been a best-effort mechanism in the network. Another question was whether it is possible to scan for double-spending and correct it. It is being proposed to introduce a mechanism where miners can vote to penalize other miners if they allow too many double spends. When asked if the network at large is not secure enough, it was deemed irrelevant.
Updated on: 2023-05-19T18:43:33.773535+00:00