True indeed, but they have to find way to upgrade their software.
Or..
Topic: TransactionID possible fix (Read 624 times)
It's not for Bitcoin protocol, it's for customized/private wallet software such as on exchanges.
Hello,
I am not a tech guy, but I have a suggestion for MTGox and all others who need to identify transactions and avoid the TXid issue.
How about using a time-stamp and adding it to the actual transaction?
Take a fee of say 0.05 and use the time-stamp as you record it with your custom software inside the actual bitcoin sum.
So for example if its 14:11:21 February 13th and the user asked to withdraw 1 BTC
It will look like this:
0.05 are taken as fees
the transaction will be 0.9501411210213 BTC
The fees taken will be more than enough to cover the extra BTC,
Now, we have address X sent a unique amount of BTC in a specific time to address Y, and the exchange is the only one holding access to address X, therefore no one can ever modify the transaction or make a cloaked/shadow transaction to look the same.
From that moment on, the software can verify if the withdraw happened simply by checking on the blockchain for a transaction 0.9501411210213 and that is it.
We can also limit the exchange not to send more than 1 withdraw in any specific second, to make it even more unique, but it's not really necessary because of the uniqueness of addresses.
Obviously another thing to add is that the exchange needs to limit withdraw format to include only 3 digits X.XX and I think that's it,
What do you think?
I am not a tech guy, but I have a suggestion for MTGox and all others who need to identify transactions and avoid the TXid issue.
How about using a time-stamp and adding it to the actual transaction?
Take a fee of say 0.05 and use the time-stamp as you record it with your custom software inside the actual bitcoin sum.
So for example if its 14:11:21 February 13th and the user asked to withdraw 1 BTC
It will look like this:
0.05 are taken as fees
the transaction will be 0.9501411210213 BTC
The fees taken will be more than enough to cover the extra BTC,
Now, we have address X sent a unique amount of BTC in a specific time to address Y, and the exchange is the only one holding access to address X, therefore no one can ever modify the transaction or make a cloaked/shadow transaction to look the same.
From that moment on, the software can verify if the withdraw happened simply by checking on the blockchain for a transaction 0.9501411210213 and that is it.
We can also limit the exchange not to send more than 1 withdraw in any specific second, to make it even more unique, but it's not really necessary because of the uniqueness of addresses.
Obviously another thing to add is that the exchange needs to limit withdraw format to include only 3 digits X.XX and I think that's it,
What do you think?
Guess it is no just that simply. Bitcoin have got very good coders and they know what they are doing.
Hello,
I am not a tech guy, but I have a suggestion for MTGox and all others who need to identify transactions and avoid the TXid issue.
How about using a time-stamp and adding it to the actual transaction?
Take a fee of say 0.05 and use the time-stamp as you record it with your custom software inside the actual bitcoin sum.
So for example if its 14:11:21 February 13th and the user asked to withdraw 1 BTC
It will look like this:
0.05 are taken as fees
the transaction will be 0.9501411210213 BTC
The fees taken will be more than enough to cover the extra BTC,
Now, we have address X sent a unique amount of BTC in a specific time to address Y, and the exchange is the only one holding access to address X, therefore no one can ever modify the transaction or make a cloaked/shadow transaction to look the same.
From that moment on, the software can verify if the withdraw happened simply by checking on the blockchain for a transaction 0.9501411210213 and that is it.
We can also limit the exchange not to send more than 1 withdraw in any specific second, to make it even more unique, but it's not really necessary because of the uniqueness of addresses.
Obviously another thing to add is that the exchange needs to limit withdraw format to include only 3 digits X.XX and I think that's it,
What do you think?
I am not a tech guy, but I have a suggestion for MTGox and all others who need to identify transactions and avoid the TXid issue.
How about using a time-stamp and adding it to the actual transaction?
Take a fee of say 0.05 and use the time-stamp as you record it with your custom software inside the actual bitcoin sum.
So for example if its 14:11:21 February 13th and the user asked to withdraw 1 BTC
It will look like this:
0.05 are taken as fees
the transaction will be 0.9501411210213 BTC
The fees taken will be more than enough to cover the extra BTC,
Now, we have address X sent a unique amount of BTC in a specific time to address Y, and the exchange is the only one holding access to address X, therefore no one can ever modify the transaction or make a cloaked/shadow transaction to look the same.
From that moment on, the software can verify if the withdraw happened simply by checking on the blockchain for a transaction 0.9501411210213 and that is it.
We can also limit the exchange not to send more than 1 withdraw in any specific second, to make it even more unique, but it's not really necessary because of the uniqueness of addresses.
Obviously another thing to add is that the exchange needs to limit withdraw format to include only 3 digits X.XX and I think that's it,
What do you think?
Jump to: