Author: Peter Todd 2015-06-19 15:40:54
Published on: 2015-06-19T15:40:54+00:00
In a conversation between Adrian Macneil and Peter Todd, the topic of mining contracts and double-spending arises. Todd points out that connecting to many nodes without technical prevention is bad for the network as it creates systemic risks of failure, which is why he, Wladimir van der Laan, and Gregory Maxwell called Chainalysis's actions a sybil attack. Todd also notes that relaying harmful double-spend transactions just because it can be done is not good for everyone. When Macneil brings up the idea of contracts with 51% of the network, Todd argues that it is not possible to guarantee that miners won't mine double-spends since there is no single consensus definition of which transaction came first. Todd then asks Coinbase to promise not to make use of dangerous mining contracts regardless of what happens.
Updated on: 2023-06-09T23:47:24.013837+00:00