[Ads-l] to (51%) double-spend attack (crypto)

Barretts Mail mail.barretts at GMAIL.COM
Thu May 24 19:17:08 EDT 2018


A major challenge to creating a cryptocurrency is preventing one person from transmitting the same funds twice, such that one of the parties receiving the funds discovers later that the funds received are no good. 

This is called a “double-spend attack” and is a verb.

https://news.bitcoin.com/bitcoin-gold-hacked-for-18-million/
It appears Bitcoin Gold (BTG) has been double spend attacked over and over again, totalling something in the neighborhood of $18 million at current prices.

https://www.ccn.com/4-lines-defence-51-attack/
Bonus for appending “51%” onto the verb, 51 percent referring to having control of 51 percent of the nodes in the network:
The Reddcoin merchants also increased their number of confirmations from 6 to 60 when Reddcoin was 51% double spend attacked.

https://github.com/dashpay/dash/issues/1559
A retailer accepting Dash may get a normal transaction, and get double-spend attacked.

https://bitcoinonair.wordpress.com/2016/01/11/
Typically, merchants do this to improve customer experience – the rationale being: "no one is going to doublespend attack this transaction for their coffee.”

Benjamin Barrett
Formerly of Seattle, WA
------------------------------------------------------------
The American Dialect Society - http://www.americandialect.org


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