Author: Peter Todd 2014-04-28 12:02:09
Published on: 2014-04-28T12:02:09+00:00
An anonymous individual sent an idea to create a pair of transactions when Alice wants to pay Bob x bitcoins, instead of creating a single transaction. This mechanism has two advantages: child-pays-for-parent isn't required at avoiding changes to the relaying code and letting the counter-transaction propagate quickly. Secondly, k can be adjusted such that Alice is guaranteed to be worse off for attempting a double-spend even taking into account the probability of getting away with it. To use this mechanism, payment protocol support is required. However, if Alice signs all her inputs with the ANYONECANPAY sighash bit set Bob can get the same effect by adding his own inputs to bump the effective fee. Transactions using ANYONECANPAY are always malleable. The k-overpaying version of scorched-earth gives Finney attacking miners incentives to defect knowing that they can earn significantly more fees by publishing their supposedly secret transactions to the p2p network. Merchants may decide that discouraging fraud is worth an overpayment.
Updated on: 2023-06-08T22:04:19.354391+00:00