Author: Tony Churyumoff 2016-08-10 08:37:37
Published on: 2016-08-10T08:37:37+00:00
In a discussion about Bitcoin transactions, James MacWhyte asks if a transaction is signed by the key pair referenced in the on-chain output. Tony Churyumoff responds that a duplicate spend proof should also be signed by the same user to be considered a double spend and that the troll mentioned in MacWhyte's example is harmless. The conversation then shifts to whether verification by miners may be needed. MacWhyte gives an example of a troll named Timothy broadcasting a transaction with a random hash referencing C's output as its spend proof. Miners can't tell if it's valid or not, and so they include the transaction in a block. However, if it was Bob who signed the transaction, Timothy wouldn't be able to generate the correct spend proof because he didn't see the private output C. Only the recipients of the private outputs can see the previous owners of the coins they receive, including amounts. What everybody else sees are meaningless hashes that hide both the recipient of the coin and the amount.
Updated on: 2023-06-11T19:25:12.320814+00:00