Author: Daniel Krawisz 2014-04-23 20:41:50
Published on: 2014-04-23T20:41:50+00:00
The memory pool is not required to meet any standard for transactions in the blockchain, and there are various ways to communicate transactions without using it. A consensus mechanism would be needed to decide if a block is dishonest before reallocating the coinbase, but such a mechanism would also be vulnerable to attacks like the blockchain. Oscar can be trusted not to double spend, so normal wallets for immediate payments would require more infrastructure, which is reasonable. However, finding trustworthy third parties on a large scale is difficult, which is why the broadcast network and mining exist. Attempts to solve the problem of dishonest miners are essentially attempts to solve the problem of finding trusted third parties at scale.
Updated on: 2023-06-08T20:59:25.654877+00:00