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Title: z Post by: znort987 on February 03, 2012, 06:37:11 AM z
Title: Re: Fun with Bitcoin, or how an exploit can hide in plain sight Post by: cbeast on February 06, 2012, 07:21:28 PM That wasn't much of a bug. Hopefully any future exploits will be reported before they cause any real harm. I suppose some small insurance policy could be devised if one could prove they were a victim of a double spend and uses multi-signature transactions.
Title: Re: Fun with Bitcoin, or how an exploit can hide in plain sight Post by: sebastian on February 10, 2012, 08:30:10 AM Yes, thats a perfomance saver. The client doesn't verify blocks older than 24 hours. Think that the leeway of accepting blocks with bogus timestamps is +-2 hours, you cannot broadcast a invalid block that will get accepted by network for being too old to be verifyed, if you don't own at least 51% of the hashpower.
Anyone can verify the whole chain, it just that the stock clients does not verify old blocks because ECDSA verification is too computationally expensive. So in short, you can be sure that blocks that skips verification because of being too old, has been verifyed by the majority of the network some time when the blocks was fresh. So owning 51% of the network is always and have always been a "ownage" of the network and you can do whatever you want. |