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You can't pretend like zero-confirmation transactions have never been useful. They have been used in practice for small amounts, many times, with no issues, and
by fragsworth 13y ago
You can't pretend like zero-confirmation transactions have never been useful. They have been used in practice for small amounts, many times, with no issues, and this system obviously changes things.
- lsb 13y agoYes, in financial transactions the standard is to use the credible approach instead of the expedient approach.
- iopq 13y agoThey have been used in practice for large amounts to double spend gambling sites that allowed them.
- vbuterin 13y agoThey are useful in customer-merchant contexts because the merchant can cancel the order after anyway in case of a double spend, and in in-person contexts because you're in person so the risk of trying to cheat is too high. That's the main reason why zero-confs are fine; you only really need the preliminary notification to be instant, not total security.