[bitcoin-dev] Committed bloom filters for improved wallet performance and SPV security
eric at voskuil.org
Thu Jan 5 07:45:18 UTC 2017
On 01/04/2017 11:06 PM, Chris Priest via bitcoin-dev wrote:
> On 1/3/17, Jonas Schnelli via bitcoin-dev
> <bitcoin-dev at lists.linuxfoundation.org> wrote:
>> There are plenty, more sane options. If you can't run your own full-node
>> as a merchant (trivial), maybe co-use a wallet-service with centralized
>> verification (maybe use two of them), I guess Copay would be one of
>> those wallets (as an example). Use them in watch-only mode.
> The best way is to connect to the mempool of each miner and check to
> see if they have your txid in their mempool.
> If each of these services return "True", and you know those services
> so not engage in RBF, then you can assume with great confidence that
> your transaction will be in the next block, or in a block very soon.
> If any one of those services return "False", then you must assume that
> it is possible that there is a double spend floating around, and that
> you should wait to see if that tx gets confirmed. The problem is that
> not every pool runs such a service to check the contents of their
> This is an example of mining centralization increasing the security of
> zero confirm.
A world connected up to a few web services to determine payment validity
is an example of a bitcoin security catastrophe.
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