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>How does Bitcoin work offline? Depends on the stage of evolution of Bitcoin you're in. Early Stage: two parties can still trade transactions offline but ther
by DINKDINK 9y ago
>How does Bitcoin work offline?
Depends on the stage of evolution of Bitcoin you're in.
Early Stage: two parties can still trade transactions offline but there's a risk of being double spent against (not completely trustless but not fully trusted).
Second early stage option is: A solution that attempts to prove that private keys to the bitcoin hasn't even been accessed before: https://opendime.com/ https://opendime.com/
Late Stage: Assume Lightning Network connectivity. Since the payment channels in the LN prevent you from double spending coins (attempting to assign UTXO to a different party than your counter party), all you really need to do is issue a channel update and issue a preimage to a hash time locked contract HTLC