Author

Topic: Double spending attacks and block depth. (Read 677 times)

legendary
Activity: 2058
Merit: 1452
May 01, 2013, 10:44:25 AM
#4
https://en.bitcoin.it/wiki/Double_spending

tl;dr you need to outpace the network to generate enough fake blocks.

Which requires >50% of the total hashing power on the bitcoin network? (Or arguably less according to some recent papers?)
a wild guess:

hero member
Activity: 906
Merit: 1034
BTC: the beginning of stake-based public resources
https://en.bitcoin.it/wiki/Double_spending

tl;dr you need to outpace the network to generate enough fake blocks.

Which requires >50% of the total hashing power on the bitcoin network? (Or arguably less according to some recent papers?)
legendary
Activity: 2058
Merit: 1452
https://en.bitcoin.it/wiki/Double_spending

tl;dr you need to outpace the network to generate enough fake blocks.
hero member
Activity: 906
Merit: 1034
BTC: the beginning of stake-based public resources
Am I correct in my understanding that a bitcoin transaction which has been mined into a block and becomes six blocks deep in the chain (has six confirmations) is statically very secure from a double spending attack?

If not can someone point me at info explaining why not.
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