double spend problem and trust
double spend problem and trust
I am very new to bitcoin and sorry if the following is too simple. As far as I understood, if there is a double spend problem, the longest chain - collecting most work - will take over. However, suppose this chain happens to extent the fraudulent, then the there is no way for the network to be aware of the fraud unless some user complains that he did not recieve the money and finds a way to tell the network. Am I right ? if so how can he inform the network, I mean blockchain-speaking. Is it a just a matter of a public information taht would ruin the trust on blockchain and that gives an incentive not to be fraudulent ?
http://ift.tt/2zv63X1
Comments
Post a Comment