1,000 Lego sets attack
I explain and contemplate a double spending attack that targets many low-value transactions instead of few high-value transactions.
I'm prepared to stand corrected.
@kalle (1) Nitpick: the attack isn't quite free if he succeeds because Joe must include Td in his block where he could've instead included someone else's transaction that paid him a fee.
(2) By implication, the closer typical fees are to the amount of the attack, the less profitable a multi-transaction attack will be. E.g., if fee/tx is $1, then the $100 Lego attack only nets $99 compared to honest mining.
Besides that nitpick, the article's logic and conclusions seem accurate to me.
@harding Thanks! Good points, especially (2) might turn out really significant. I'll update the article tonight.
I haven't heard much about this kind of attack. Have you seen anything on this elsewhere?
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