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0 pointsetunity8y ago0 comments

For the double spend to occur, you would need access to the seed ( private key) which the victims had and are trying to outrun the attacker in the case you were describing.

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4 comments · 3 top-level

elmar8y ago· 1 in thread

>For the double spend to occur, you would need access to the seed ( private key) which the victims had and are trying to outrun the attacker in the case you were describing.

So it works a bit like replace-by-fee on bitcoin? There is no mining on IOTA so what is the possible time frame? do you have more detailed technical information how this works? Thanks

etunityOP8y ago

New transactions are selected randomly to be verified. So in case the attackers transaction is still not confirmed there is a chance to outspend him by having the private keys. I find this useful in understanding the confirmation/consensus mechanism. https://forum.iota.org/t/iota-consensus-masterclass/1193

PinguTS8y ago

You know how hash collisions work and why it is important to have an hashing algorithm for which it is hard to enforce collisions.

It is so you do not need to know the private key. So that you can forge fraudulent transactions without knowing the private key.

smrtfckr8y ago

Still not a double spend.

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