Author: Peter Todd 2014-04-23 15:55:31
Published on: 2014-04-23T15:55:31+00:00
In an email exchange between Pieter Wuille and Kevin, the former suggested that the double-spending problem can be solved using blockchain technology. However, he pointed out that this only works when transactions are in a block. The issue at hand is preventing double-spending before confirmation, which has always been a best-effort mechanism in the network. In response to the second question, Wuille proposed introducing a mechanism where miners can vote to penalize other miners for allowing double-spends. However, this mechanism raises concerns as there is no requirement for proof of double-spending, and it allows miners to penalize others for any reason.
Updated on: 2023-06-08T20:55:14.893986+00:00