Author: Mike Hearn 2015-02-12 14:16:32
Published on: 2015-02-12T14:16:32+00:00
The concept of replace-by-fee cannot be considered fraudulent, as it could be the world as observed by some. However, if we are referring to the legal definition of fraud, then the "beyond reasonable doubt" test would need to be applied. If a double spend is mined that everyone believes occurred five minutes later, there may be reasonable doubt. However, if this happens repeatedly, then it is unlikely to be a fluke. Alternatively, under a technical definition, Tom Harding has been researching this topic, which involves a statistical approximation of the above scenario. This would ensure good incentives with only small false positive losses and is similar to how the blockchain algorithm works with orphans.
Updated on: 2023-06-09T16:54:09.277103+00:00