Author: Tom Harding 2015-02-22 19:25:24
Published on: 2015-02-22T19:25:24+00:00
In an email exchange, Peter Todd discusses the potential vulnerabilities of the ANYONECANPAY feature in Bitcoin. He highlights a way to defeat it by double-spending with high fees and forcing multiple parties to work together to scorched-earth the transaction. This is accomplished by paying 10 people 1 BTC each with one transaction, then double-spending it with fees of 2BTC. This would make an individual or two-party claw-back ineffective due to insufficient fees. Todd's suggestion aims to improve the security of the Bitcoin network.
Updated on: 2023-06-09T17:00:58.109179+00:00