Author: Daniel Rice 2014-06-18 15:59:44
Published on: 2014-06-18T15:59:44+00:00
The discussion is about the importance and usefulness of allowing multiple signatures in transactions to avoid double spending. The instant provider list can be automatically generated based on a 3rd party network that shares information between vendors and monitors double spends, instead of a hand-written exclusive list of accepted instant providers. This database can give a confidence score for a specific instant provider for a given transaction amount, allowing new wallet companies to earn trust over time. Allowing more than one instant signature on a transaction could help establish trust in a new instant signature while relying on an already accepted instant signature. The idea of requiring three independent parties to sign off on a transaction seems like a hassle, and it is suggested that trusting someone not to double spend is a binary thing.
Updated on: 2023-06-09T00:02:29.538516+00:00