3 ms·
Sure, if you wait for a sufficiently large weight on top of your transaction, then you solve the double spend problem. But you need at the bare minimum that eve
by LightMachine 9y ago
Sure, if you wait for a sufficiently large weight on top of your transaction, then you solve the double spend problem. But you need at the bare minimum that every transaction that happened at roughly the same time as yours to be included as an indirect child of your tips. If you do not understand that sentence, please try to, as it is the very reason that IOTA doesn't scale (and isn't fundamentally different from usual blockchains in any sense other than a somewhat contrived construction).
- hyprCoin 9y agoI appreciate the succintness of your comment. I believe there is an elaboration here: https://github.com/noneymous/iota-consensus-presentation https://github.com/noneymous/iota-consensus-presentation If I understand the issue you've pointed out correctly, this is why the coordinator currently exists. Once there are constantly running zero value transactions all around us (self driving cars, smart sensors, etc), then that becomes trivial. IE the number of indirect children of your tip increases at a rate of roughly 2^n (less due to random tip selection). This leads to confirmation in an exponential fashion.