Author: Gregory Maxwell 2014-04-23 20:24:09
Published on: 2014-04-23T20:24:09+00:00
In this email exchange, Mike Hearn and others discuss the issue of double-spending in Bitcoin. They debate whether relying on miners to prevent double-spending is trustworthy or not. The conversation also touches on the idea of using "Oscars" as trusted third parties instead of miners. Hearn argues that miners are not always reliable, and there is a risk of collusion among them. The use of "Oscars" - trusted third parties who are not self-selecting - could be an alternative solution. However, some concerns are raised about the difficulty of finding truly incorruptible parties. The conversation concludes with the idea that trust in mining is limited and should not be increased. Using multiple layers of security, including trusted third parties like Oscars, can provide additive protection against double-spending.
Updated on: 2023-05-19T18:42:55.615247+00:00