j"1LAnZuoQdcKCkpDBKQMCgziGMoPC4VQUckM<div class="post"><div class="quoteheader"><a href="https://bitcointalk.org/index.php?topic=723.msg8007#msg8007">Quote from: Red on August 06, 2010, 11:08:28 PM</a></div><div class="quote">So for any new transaction, to verify it, you send it to the five closest nodes to each in-point on the transaction. They record the transaction and immediately tell you if they've seen a double spend. If any have, it's a bogus transaction, which gets broadcast to the other close nodes.<br/></div><br/>What happens when they disagree about which transaction happened first? Majority rule? Who decides what the majority is, and can it change if 4 of the five nodes leave the network and are replaced by another 5 nodes?<br/><br/>And if I know that I'm going to create a large transaction, can I do some work precomputing node IDs such that the transaction (which I haven't yet sent out) will hash to nodes that I control? If I control all the nodes storing the transaction, then I can just answer "yes, absolutely, that transaction is valid and hasn't been double-spent..."<br/><br/>The brilliant insight behind bitcoin is the distributed timestamping mechanism; everybody agrees on an order of transactions. I don't see how your scheme solves that problem.<br/></div> text/html
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