Post
Topic
Board Economics
Re: Transactions Withholding Attack
by
AnonyMint
on 17/11/2013, 08:08:04 UTC
Thanks for the link, but I must be dumb, I can't work out whether that answers my question. Explain like I'm 5 please... How do Amazon control my blockchain.info wallet, I'm not using Amazon's downloadable wallet.

Okay I apologize. I need to remember I speak to different audiences with different expertise.

A miner collects transactions then calculates a mathematical hash of them, then proceeds to search for a solution to the proof-of-work puzzle for that hash. If the miner finds the solution first, the miner publishes it to (other miners and eventually it is published to) the blockchain.info.

So the blockchain.info only records transactions that are in already solved blocks.

Normally miners share transactions and pass them around to each other, so that which ever miner solves the next block, those transactions will be included.

But it doesn't have to be that way.  A miner could decide to not share his transactions with other miners, thus if the other miners solve the next block, the withheld transactions won't be that block.

So you might say then that Amazon.com customers would be angry if Amazon withheld, because transactions would be slower (they would wait until one of Amazon's miners solved a block). But I have several rebuttals to such a rebuttal.