Author: Peter Todd 2015-02-22 14:33:53
Published on: 2015-02-22T14:33:53+00:00
In a discussion about the security of fast confirmation transactions, Adam Back suggests exploring ways to improve practical security before deprecating the current weaker 0-conf transactions. Responding to this, Peter Todd highlights that relying on unconfirmed transactions can lead to people getting burnt and losing money, and therefore, it is best to depreciate this kind of "security" as soon as possible. Todd has also developed easy-to-use and highly effective tools to pull off double-spends, which he made public to ensure fewer people rely on unconfirmed transactions. He plans to volunteer his consulting time to discuss solutions with a team doing person-to-person trading. Todd acknowledges there is no one solution to this issue, and the best solutions vary depending on the situation.
Updated on: 2023-06-09T17:38:12.698580+00:00