Author: Eric Lombrozo 2015-06-21 07:42:43
Published on: 2015-06-21T07:42:43+00:00
In an email exchange dated June 20, 2015, Eric Lombrozo suggested specific steps to reduce exposure in accepting zero confirmation transactions. The steps include limiting transaction amounts for zero confirmation transactions, limiting the total amount of unconfirmed revenue accepted at any given moment, providing merchants with the ability to shut out users if a double-spend is detected, collecting legal information on purchasers, creating a risk profile for users and flagging suspicious behavior, obtaining insurance, setting up a warning system and panic button, and independently verifying all inbound transactions and connecting to multiple network nodes. Lombrozo emphasized that more important than the specific software used is having a strong security policy in place. Specific software tools to accomplish these steps were not discussed in the email exchange.
Updated on: 2023-06-09T23:45:53.415936+00:00