The SSL PKI appears to be well and truly riddled with holes. By the way, do browsers check for certificate revokation and refuse to connect to revoked sites?

The SSL PKI appears to be well and truly riddled with holes. By the way, do browsers check for certificate revokation and refuse to connect to revoked sites? I'm constantly amazed that ecommerce even functions. I'm glad it does, but there just seem to be fairly fundamental holes in the PKI to secure ecommerce.