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My apologies, I used “reverse” and “invalidate” synonymously. Nevertheless on a public blockchain all transactions would be invalidated and that indeed is a pr
by leifg 4y ago
My apologies, I used “reverse” and “invalidate” synonymously.
Nevertheless on a public blockchain all transactions would be invalidated and that indeed is a problem.
Because everyone who received coins would have to wait again for n confirmations in order to be sure they got their money. In theory nobody should be able to add a double spend transaction to the pool but I wouldn’t bet on it.
That’s what I mean with technical nightmare.
You would have to make sure to properly identify all transactions. Possibly take down the system, exclude a single transaction. Make sure that the miner who will find the next block will include the right transactions. Make sure of that for the following block. I don’t see that happening with a large coordination effort, meaning: centralization.
And when you come to that conclusion you should probably take a step back and rethink “why are we doing all of thatch blockchain stuff when we need to rely on a central authority?”
- HWR_14 4y ago> when you come to that conclusion you should probably take a step back and rethink “why are we doing all of thatch blockchain stuff when we need to rely on a central authority?” I think blockchain is going to eventually die for that exact chain of reasoning.