Author: Peter Todd 2014-08-06 17:34:21
Published on: 2014-08-06T17:34:21+00:00
On August 6th, 2014, Mark Friedenbach responded to Tom Harding's proposal of adding first-eligible-height and last-eligible-height to Bitcoin by stating that it would be a "massive" change that would break Bitcoin output frangibility. This is because merchants would have to demand input history back to a certain depth in order to ensure they are not exposing themselves to undue reorg-expiry risk. However, Friedenbach argues that Bitcoin is already "broken" in this regard due to malleability, the existence of anyone-can-spend outputs, known private keys, SIGHASH_ANYONECANPAY, etc. In any case, reorg-doublespend risk is no different than reorg-expiry risk. The context also includes a PGP signature at the end.
Updated on: 2023-06-09T01:44:14.597248+00:00