Author: Gregory Maxwell 2012-10-09 03:22:01
Published on: 2012-10-09T03:22:01+00:00
In an email conversation, Mike Hearn discusses the security implications of thin clients, particularly Electrum. He mentions that most users are not aware of the risks associated with thin clients, which include lying servers causing clients to spend large values on fees and deanonymization attacks. Electrum, in particular, has limitations such as unauthenticated cleartext JSON in TCP and no indication for unconfirmed transactions in the default user interface. The lack of clear explanation and appropriate caution may lead to a bad press for thin clients and Bitcoin generally. Despite this, Hearn believes that people will migrate to stronger client models due to their better security features.
Updated on: 2023-05-19T15:49:49.493899+00:00