Author: Lawrence Nahum 2014-06-16 15:26:15
Published on: 2014-06-16T15:26:15+00:00
In a recent article, Daniel Rice from greenmangosystems.com discusses the issue of double spends. According to Rice, if double spends are not resolved, there will be a million instant providers in the long run. However, if double spends are resolved, then the BIP extension that is currently being proposed would be completely unnecessary. While Rice is unsure whether double spends can be resolved, he believes that even if they are not, we will not see millions of instant providers. He compares this to the number of Certificate Authorities and Credit Card networks - we do not see millions of these entities. Rice questions why people would spread trust instead of consolidating with a few instant transaction providers when time is critical. Overall, Rice's article brings up an interesting point about the future of instant transaction providers and the role of double spends in this landscape.
Updated on: 2023-06-09T00:01:22.898518+00:00