Author: Mike Hearn 2015-01-09 13:42:52
Published on: 2015-01-09T13:42:52+00:00
The design for time locked transactions using sequence numbers was intended to allow high frequency trading between parties but could be vulnerable to attacks. Broadcasted transactions with a lock time far in the future could fill up memory and use up CPU time and bandwidth. However, there is a concern that Bitcoin must still work even if miners are malicious and willing to break things to gain more money. In this scenario, there is nothing forcing miners to include the latest version in the block chain, they could pick any version. In the 2-of-2 channel model, both parties must sign and agree on the same fee attached. It is also argued that user-friendly apps that use refunds currently do not exist, so it is uncertain whether people would refuse to use them or not depending on the prevalence of attacks which is currently unknown.
Updated on: 2023-06-09T15:17:52.180109+00:00