Author: paul snow 2014-12-22 00:56:28
Published on: 2014-12-22T00:56:28+00:00
In a discussion between Peter Todd and Adam Back, they talked about the possibility of preventing double-spending in Bitcoin. Back mentioned that it is possible to define a new rule that two signatures authorize something like miners taking funds, which would work with existing ECDSA addresses and unrestricted R-value choices. However, Todd argued that introducing clever ECDSA math doesn't change the fact that it's clever economics that's preventing double-spending in Bitcoin. He emphasized that math alone can't prevent double-spending, and it's crucial not to confuse people with complex equations that aren't relevant to the fundamental principle. Todd added that math models reality and has no limits, so saying that math can't prevent double-spending is equivalent to saying that it cannot be done.
Updated on: 2023-06-09T15:06:02.476067+00:00