Author: Mike Hearn 2015-02-12 12:49:01
Published on: 2015-02-12T12:49:01+00:00
There is an extended version of the Greenaddress.it model called collateralized multisignature notaries, which makes unconfirmed transactions useless in the classical Bitcoin model. However, introducing a trusted third party would bring back the disadvantages of centralised trust. If unconfirmed payments become unreliable enough that people stop using them, some in the Bitcoin community may turn to trusted third parties or hardware solutions, while others may decide that Bitcoin is no longer a better option than banks due to new tradeoffs and complexity.
Updated on: 2023-06-09T16:49:21.663227+00:00