Been reading the debate about zero time and doublespending...
My conclusion for the time being is that zero time allows instant transfers whenever there isn't a malcious attack.
And although it has not been peer reviewed to stop double spending, it at least has been reviewed by poloniex enough to make it as secure as bitcoin with taking onlyone confirmation before deposit is clear.
So it takes less than 10 minutes per block and allows100 transactions/sec, while under a double spend attack ie never, and is istantaneous the rest of the time.
Correct me if I'm wrong but this is pretty Frick in sweet isn't it?
Probably even a game changer.
Disclaimer, I own a few btc's worth of vnl, but I own more xmr and btc than I do VNL.
So does that mean Poloniex now accepts deposits using zerotime, or is there still a 1 confirmation hold time? I think the 1 confirmation was already pretty fast, so I do not know if this would even make much of a difference transferring to/from exchanges.
Where I could see zerotime being more useful would be in retail establishments, buying a bagel and coffee for instance, the proprietor could confirm in near real-time the transaction is valid. Of course, most places that accept Bitcoin already use Bitpay or something similar, and they transfer the already low risk to a third party, so even in this scenario I am not sure how useful this is in the real world. It sounds cool and all, but I am struggling to find the real value here.
Again, consider the following scenario:
Your balance has run out and you need to get funds to miningrigrentals because a coin that you feel like you need to mine just launched.
Let's say miningrigrentals accepts both X and BTC.
X confirms in seconds. BTC confirms in an average of 10 minutes but sometimes takes hours.
Do you choose to use X or BTC?
Two of the most important aspects of a payment system are security and speed. A number of people posting in this thread don't seem to understand how big of a deal Zerotime is. Now, I understand that you don't yet have third-party confirmation of how secure Zerotime is, but assuming it's secure, it is a fundamental improvement over the way Bitcoin's network works.