4 ms·

How does this scheme support offline spending and also prevent double spending ?

• hedora 6y ago
  When you double spend, someone eventually cashes the money in at a bank, and the bank notices. With their authorization, their wallet decrypts and divulges the person that gave them the double spent currency to the authorities. This continues recursively until the double spender is discovered. One problem with this scheme is that you could lose your wallet, then be found to be complicit in double spending years later (when you refuse to / can’t divulge the identity of the upstream spender).