When it comes to creating a peer-to-peer electronic cash system, accepting zero confirmation transactions becomes critically important. When a model’s main aim is to “just hodl” or push an isolated store of value narrative, important concerns like double spending can take a back seat, potentially opening a network to serious attack. A recent video demonstrating this risk saw some claiming such weaknesses are equally exploitable on the BCH chain. However, as the Replace-By-Fee (RBF) protocol isn’t part of the BCH codebase, the claims can be easily refuted and as such, the BCH community has been speaking out.
Also Read: Travelbybit to Drop Bitcoin Payments After Viral Double Spend Video
Double Spending BTC in the Wild
A double spend is just what it sounds like — spending the same bitcoin twice. Of course, this is a favorable proposition to bad actors, scammers and thieves, who are more than happy to make off with goods without paying a service provider or merchant. In essence, double spending involves spending bitcoin, then sending…