Video Demonstrates Double Spending Possibility in Bitcoin Cash SV ‘0-Conf’ Transactions


Findings from a test by an online persona known as “reizu” revealed four nodes control 75 percent of the BSV hashrate.

Bitcoin Cash SV (BSV), a new fork of Bitcoin Cash (BTC), faced new controversy on Dec. 8 after a researcher reportedly showed how any user could spend the same coins twice on its network in a “0-conf transaction.”

Bitcoin Cash, which was created in a hard fork from Bitcoin (BTC) in August 2017, uses 0-conf (or zero-conf) to allow almost instant transactions, meaning they are almost always confirmed in the following block.

In a multi-phase test including a video demonstration posted to Vimeo, the user, known as “reizu,” succeeded in “double spending” BSV tokens in a “0-conf transaction,” demonstrating the network’s vulnerability to attack and disproving major proponent Craig Wright’s claims (in reference to BCH) that “only miners” could do so.

The double spending demonstration was…



Read Full Story : Cointelegraph.com News

2018-12-08 15:25:00

You Might Be Interested In

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *