Author: Mike Hearn 2015-10-05 16:46:28
Published on: 2015-10-05T16:46:28+00:00
In a conversation, a proposal for an extension block by Adam Back is discussed which would allow for a soft forking change that creates more subsidy than is valid. The security of this is compared to that of SPV nodes and it is argued that SPV nodes could be much more secure than bitcoinj nodes as they can validate the coinbase transaction of every block. However, the speaker believes that statements about theoretical unicorn wallets are being made without any real understanding of the engineering tradeoffs involved. They suggest that those making such statements should build their own SPV wallet from scratch. The speaker also provides an example of an attack in which a non-upgraded full node wallet is defrauded with BIP65 but could not with the hardfork alternative. They argue against unreasonable assumptions and state that virtually all payments that aren't moving money into/out of exchange wallets are 0-confirm in reality.
Updated on: 2023-06-10T23:08:17.511156+00:00