Author: Natanael 2015-03-18 22:53:32
Published on: 2015-03-18T22:53:32+00:00
On March 18, 2015, a user named Dennis Sullivan posted to a Bitcoin email list for the first time and asked for opinions on a "transaction locking" proposal that claimed to make it possible to accept 0-conf (zero confirmation) transactions with a guarantee they will get mined. However, he expressed skepticism about the system, stating that if there was merit to it, he would have expected to see discussion regarding it on the list already. Sullivan also discussed potential weaknesses of the proposal, including vulnerability to sybil attacks, Finney attacks (single-block reversal), and defecting miners. He noted that zero-conf is only safe if no one is actively trying to attack you and that it has no inherent security in and of itself. While low value transactions may tolerate the risk, larger value transactions pose too much risk of making oneself a target.
Updated on: 2023-06-09T18:54:23.720717+00:00