Author: Adam Ritter 2014-04-23 20:44:29
Published on: 2014-04-23T20:44:29+00:00
In this email conversation between Mike Hearn and Gregory Maxwell, the issue of 0-confirmation transactions on the Bitcoin network is discussed. Maxwell suggests that while these transactions may work in the absence of collusion by miners, trust is required when selecting parties to not double spend. Hearn argues that double spend alerts can fix the issue and mentions the need for an overlap to make an instant trade. The conversation then shifts to the censorship resistance of the blockchain and how it doesn't matter if double spending partners refuse to help spend money due to coercion. Hearn proposes a solution to stop GHash.io, suggesting that their rewards could be zeroed out or they could be punished post-hoc. Overall, the conversation highlights the challenges and potential solutions related to 0-confirmation transactions on the Bitcoin network.
Updated on: 2023-06-08T20:59:13.323836+00:00