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There is no such thing. In a 2 out of 3 transaction, 2 out of 3 parties have to agree for the transaction to happen. Thus, if the winner agrees and the arbitrat
by dispense 13y ago
There is no such thing. In a 2 out of 3 transaction, 2 out of 3 parties have to agree for the transaction to happen. Thus, if the winner agrees and the arbitrator also agrees, the transactions is conducted. It's a cryptographically secure agreement.
- brador 13y agoWhat if the arbitrator is colluding with the loser?
- yummyfajitas 13y agoThis problem is not solved via 2of3 transactions. It can be partially mitigated by requiring multiple arbitrators (e.g. a 4/5 transaction with 3 hopefluly independent arbitrators).
- dllthomas 13y agoUnfortunately, there's no really good way of establishing that two pseudonyms are not held by the same person, in a decentralized system. Doubly so when legal enforcement isn't available. Of course abuse is harder the more arbitrators you incorporate, but expense and difficulty are higher as well.
- dispense 13y agoThat's a human problem, not a Bitcoin problem.