Author: Peter Todd 2014-10-29 20:08:48
Published on: 2014-10-29T20:08:48+00:00
Alex Morcos has found issues with the code for estimating fees and believes he has a solution. However, another user warns that estimates should be malleable to attackers and that there is a serious issue with the current fee estimation code. The current code will estimate high fees based on little data and only has a failsafe of allowing transactions with fees less than 100mBTC/tx. This can lead to wallets being emptied quickly and exchanges losing thousands of dollars due to an exploit. A user-configurable failsafe limit is suggested as a solution, but a more sophisticated approach that takes into account coin-age of observed transactions may be better. A recently published paper on Tor sybil attacks is also referenced as an example of how this exploit can occur.
Updated on: 2023-06-09T03:37:39.076469+00:00