Instant Transactions - Node's transactions stream has impressive response time, added security measures which lead to an untraditional block generation.
I still don't understand how that is supposed to work. Any chance we'll get a more technical whitepaper anytime soon ?
Here's my problem.
Okay so you get a confirmation everytime a node spreads your tx further (which he only does if it's valid) which will of course result in many confirmations in very little time.
Consider this scenario:
I set-up many evil nodes
I send 2 valid transactions to two recipients (I send the same NODEs so double-spend. The txs are both valid unless you know about both of them)
I give loads of confirmations to my double spend with my evil NODES and I'm sending those directly to the two recepeints.
So I got two valid transations (they are valid unless you know abou both of them) both with many confirmations from my evil nodes.
You're absolutely correct to say that not both payments will make it into the blockchain because the forger won't be one of my evil nodes but if i can only be sure that a tx is legit when it's in the blockchain then instant transactions are an illusion.
I'm really not trying to discredit NODE. I'm legitimately interested in how instant tx are supposed to be achieved in this system.
Node has a double verification
1) Verification transaction blockchain user (1 Confirmation)
2) Verification when adding a block
Correctly example:
- You make a transaction
- Collects transaction confirmation
- The transaction is added to the block after a minimum of 3 confirmation (1 check for validity)
- The unit is spread over the network and added to blockchain member (2 check for validity)
your example
- You are sending the transaction is not valid
- Is going wrong with the confirmation of your nodes
- The transaction is going on in the network
Here your transaction will be ignoring, even if she has 100 confirmed
The fact that the user node first checks the transaction for validity, and then adds +1 confirm,
then checks for a minimum of confirmation, and generates the block.