New answers tagged

2

I don't think there is a well-established term, yet. My spontaneous preference would be to use "to displace" or "to supersede" a block—there is only one spot in the best chain at each height and the new block took it from the old block. In the past I have also described it as "reorganizing out" a block.


6

The problem that Bitcoin solved was the double spending problem. The scenario that causes the double spending problem does not pertain to "miner x" trying to spend Bob's money—he can't obviously. The double spending problem stems from Mallory, an attacker, being able to sign two conflicting transactions in parallel, one stating that he paid Alice, ...


4

But why is it even necessary since transactions are confirmed only if they contain valid signature? Proof of work is not used for transaction validation. A signature prevents other people stealing bitcoin which they do not own (without the private key), and prevents a transaction from being tampered with. However, Bob could spend the same bitcoin multiple ...


Top 50 recent answers are included