Author: Tom Harding 2014-06-18 02:01:33
Published on: 2014-06-18T02:01:33+00:00
In an email thread from 2014, Daniel Rice proposed a solution to the issue of double-spending in Bitcoin transactions. He suggested that if a node receives two transactions that use the same input, they can put both of them into the new block as proof of the double spend. However, the bitcoins would not be sent to the outputs of either transaction but instead treated like a fee and given to the block solver node. This system would give miners the incentive and tools to end double-spends instead of being forced to favor one transaction over the other.However, it was suggested that before considering a hard fork with unpredictable effects on the uncertainty window, a soft fork should be looked at. The goal of this soft fork would be to reduce the uncertainty window by treating locally-detected double-spends aged greater than T as invalid. It was also mentioned that reducing the reasons why transactions don't get relayed would make this kind of thing work better. Overall, suggestions were made to find solutions to reduce the risk of double-spending in Bitcoin transactions, whether through a hard or soft fork or by improving how transactions are relayed.
Updated on: 2023-06-08T23:58:17.562523+00:00