Author: Tom Harding 2017-03-16 15:05:11
Published on: 2017-03-16T15:05:11+00:00
The discussion is about compact fraud proofs in Bitcoin and their feasibility. The author argues that compact fraud proofs do not exist and even if they did, ensuring their visibility to SPV clients would pose the same problems as BIP37. It is pointed out that in the implementation of BIP37, they have no security except for a vague hope that they are not being lied to and that the chain with the most work they are seeing is actually valid. The author also mentions that during the validationless mining failure around the BIP66 activation, miners produced 6 invalid blocks in a chain and many more invalid blocks in isolated bursts for a period lasting several months. Due to the instability of the network, it is unreasonable to accept anything except multiple confirmations. Finally, the author states that this affected all users, not just SPV.
Updated on: 2023-06-11T04:57:43.053849+00:00