Author: Peter Todd 2013-05-06 19:08:57
Published on: 2013-05-06T19:08:57+00:00
The discussion on the accountability of relay nodes for double-spends in Bitcoin network led to the conclusion that punishing nodes and miners is a bad idea as it complicates the consensus mechanism. Instead, the actual spender should be held accountable directly. Some useful things that can be enforced on relay nodes without adding complexity are accurate knowledge of the best block, blockchain, UTXO set, and bloom filtering. Additionally, making the node identity expensive to obtain and providing propagation/mining services can also help in accountability. There was a suggestion to use Brands private credentials with offline double spend detection but it was clarified that nodes don't spend coins, people/wallets do. Finally, focus should be on simple efforts like SSL transport rather than complex cryptography for an improvement in security.
Updated on: 2023-06-06T16:08:38.451444+00:00