Author: Sergio Lerner 2014-10-06 13:21:15
Published on: 2014-10-06T13:21:15+00:00
In an email thread from 2014, Alex Mizrahi proposed a solution to sharing unusually large transaction fees without the need for protocol changes. However, Sergio Lerner pointed out that this solution could be used for an attack called Chained Kickback Double-spend Attack (CHAKIDO). CHAKIDO is essentially an extension of Bonneau's kickback attack and involves creating an Optimum Rational Best-chain Selection (ORBS) patch to convince miners to use it and then performing a double-spend against a target like an exchange. Sergio's conclusions are that ORBS should never be implemented unless merchants are aware of it, as Bitcoin with no subsidy will become a terrible slow payment system. Alternatively, protections that work even if some nodes implement ORBS could be implemented, such as fee and burn BTC sharing. Another option is to have a high percentage of miners be irrational to force ORBS fee delegation to have an exponential decay.
Updated on: 2023-06-09T02:58:11.551211+00:00