Re:Proof-Of-Work is a Decentralized Clock
by rpearl on Tuesday April 17, 2018 @06:35PM
(#16862894)
> Until A's transaction is included in a block, B can not do that.
This is just not true at all?
for B to refer to A, it needs to know the transaction id.
Transaction ids are sha256(sha256(raw_transaction)) and a raw transaction consists of inputs and outputs. All this is known before the transaction gets put in a block--and has nothing to do with blocks.
Blocks and mining mitigate against double spending (...by burning an insanely huge amount of energy to do so, inefficiently. But that's a separate issue, at least right here)
Re:Proof-Of-Work is a Decentralized Clock
by drdrey on Thursday April 19, 2018 @06:50PM
(#16880854)
But is it valid to refer to a transaction hash that only exists in the mempool? The transaction you refer to has to exist in history, which means it has to live on the longest chain, no?
This is just not true at all?
for B to refer to A, it needs to know the transaction id.
Transaction ids are sha256(sha256(raw_transaction)) and a raw transaction consists of inputs and outputs. All this is known before the transaction gets put in a block--and has nothing to do with blocks.
Blocks and mining mitigate against double spending (...by burning an insanely huge amount of energy to do so, inefficiently. But that's a separate issue, at least right here)