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Author Topic: so.. why do verification's have to occur exclusively in blocks?  (Read 630 times)
meebs
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January 20, 2013, 04:51:30 AM
 #1

I was thinking... Why is a block being found the ONLY way a transaction can be verified?


Why cant a message just be sent out to the nodes/clients with a simple query of "hey... so it is cool if address X sends Y BTC to address Z... would you approve that in a future block?"

Randomly pick a dozen or so nodes to send it to and if all responses come back affirmative at least then there is substantially greater evidence of the transaction being legit verses completely unsafe.

MAkes sense to me at least.. but i'm not to intimately familiar with the technical side of transaction verification.

Thanks!

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January 20, 2013, 05:35:21 AM
 #2

Some miners saying "yeah, I'll do that latter" doesn't mean a different miner won't include a tx that makes the first one invalid (uses the same coin to pay someone else). The miner's intent or even promise means nothing because when they build the block it will be ignored because it has an impossible tx in it.

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January 20, 2013, 05:49:45 AM
 #3

Good point. I didnt think of it that way.

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January 20, 2013, 06:03:42 AM
 #4

I was thinking... Why is a block being found the ONLY way a transaction can be verified?


Why cant a message just be sent out to the nodes/clients with a simple query of "hey... so it is cool if address X sends Y BTC to address Z... would you approve that in a future block?"

Randomly pick a dozen or so nodes to send it to and if all responses come back affirmative at least then there is substantially greater evidence of the transaction being legit verses completely unsafe.

MAkes sense to me at least.. but i'm not to intimately familiar with the technical side of transaction verification.

Thanks!

It works if:

1. A miner (or a group of miners) controls >50% total network hashing power;

2. This miner (or group) is honest (it always includes transactions in a future block as promised); and

3. This miner (or group) always rejects any block containing conflicting transactions

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