by Evan Duffield, Holger Schinzel, and Fernando Gutierrez | Sep. 22, 2014
This paper discusses various features implemented in Darkcoin to enable instant verification of transactions. It explains the currency's masternode setup and the use of transaction locking to ensure that only one node acts on a resource. The authors go on to discuss how they intend to mitigate a number of possible attacks (ex. Sybil attack, Finney attack, transaction lock race attack, multiple consensus message). Finally, it lays out anticipated future work.
In Bitcoin a standard confirmation event on average takes 10 minutes. Depending on the needed level of security required, a merchant can require multiple of these events, taking between 30 and 60 minutes in total. In this paper, we explore a solution to a long standing issue with Bitcoin and other cryptographic currencies, the ability to enable instant validation of payments without having to wait for blockchain confirmatio
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