2 ms·
It is, and for certain types of goods it might make sense to wait for the full six confirmations. High fraud rate industries have had years of experience with s
by xorcist 9y ago
It is, and for certain types of goods it might make sense to wait for the full six confirmations. High fraud rate industries have had years of experience with similar strategies for the credit card system.
Payments on the globally replicated blockchain can not be both quick and secure. Many soda machine experiments faced this exact problem. What all of them did in practice was the same thing as all restaurants and pubs do, eat the risk. Any guest who wanted to leave without paying, or pirate your game, would do exactly that anyway and not bother with faking payments in the first place. Every pub and café owner takes the exact same risk even when settling in cash. People leave without paying all the time.
The specific example of game keys you mentioned has some interesting aspects to it however! Trustless zero knowledge swaps have been demonstrated between them and Bitcoins, which could open for some exciting business ideas that were not possible before.