January 2019
Intermediate to advanced
258 pages
7h 12m
English
Content preview from Blockchain for Business 2019
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Example of double-spending
What would happen if a miner tries to conspire and create double-spent transactions?
Imagine the following scenario. John wants to buy a car with Bitcoin. He finds a dealer of sports cars who accepts Bitcoin as a form of payment. John buys an awesome orange Lamborghini for 10 Bitcoin. Right after the payment is made and included in the blockchain as the top block, John drives away in his new Lambo. The vendor has delivered the product with no delay. However, John has colluded with Mr. Li who is a miner. Actually, Mr. Li operates a huge mining pool with a lot of processing power. Think about a big data center full of computers dedicated just to mining on the Bitcoin blockchain. Mr. Li immediately re-mines the same ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.