I'm currently working on some Bitcoin code and whilst I'm hoping I've covered my bases, I wanted to check the implementation theory.
If I understand the malleable bug it's basically... You create a transaction address for the transaction to take place on. At this point a transaction id is created (txid)
The txid is changed before the transaction is complete on the network, creating a second txid, that the transaction will eventually be completed/confirmed/verified on.
So if that is correct (please correct me if I'm wrong)...
A script/program transferring coins to somebody should work something like this:
A transaction address is created and given to the payee to transfer the requested balance to. That transaction address is checked periodically for number of confirmations. When the transaction address receives 6 or more confirmations it can be considered as completed.
Is there a better/quicker/securer way ?