Author: Christian Decker 2017-01-05 14:48:33
Published on: 2017-01-05T14:48:33+00:00
On the bitcoin-dev mailing list, a discussion was held about how to determine if a transaction will be included in the next block. One suggestion was to connect to the mempool of each miner and check for the transaction ID. Links were provided to several mining pools' APIs that could be used for this. If each service returns "True", it is likely that the transaction will be included soon. However, if any one of them returns "False", there may be a double spend floating around and it would be wise to wait for confirmation. The downside is that not every pool runs such a service to check their mempool's contents. Eric Voskuil commented on this method, calling it a "security catastrophe" as it would allow anyone to determine payment validity and expose users' transactions. Cdecker agreed, saying it would be an absolute privacy nightmare. This discussion highlights the potential issues with centralization in mining and the importance of balancing security and privacy concerns.
Updated on: 2023-06-11T04:55:32.983610+00:00