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Merchants can accept payments securely when they make instant transactions, since Bitcoin SV is suitable for real-world trading.
Chief researcher of nChain Craig Wright explained in a blog post that double-cost attacks, where a payment seems to be made but with money going elsewhere after the delivery of a product, are avoided with measures already in place.
"Mining is there to ensure the creation of a competitive system to stop double spending … Miners are paid not only to verify transactions, but to find errors in the efforts of other miners and to invalidate these" he said.
Among the items in a merchant's bill would be a minimum tax for miners. "If the customer gives the merchant a transaction that uses less than this, he will refuse it," Wright said. "It is the trader and not the user who sets the terms used here, and the trader can simply not allow the sale, if it is below the offer price".
Wright listed several steps in a transaction that a double-spending attacker would have to overcome, with most everyday products, like a cup of coffee, which was not worth the cost and effort required.
With the terms established between buyer and seller, each party could decide if the obligations of the other are not met. "In the real world, a merchant or a salesperson gives you an invoice to pay.This does not change in the Bitcoin world.You send what is required," he said.
In the event that a trader finds a double expense, by sending a request to the minister, Wright has declared that the payment is considered fraudulent and that the traders have the right to retain the customer before bringing it to the government authorities "as well as with store lifters right now."
He said, "The reality is that in 2 seconds (or less) the merchant has controlled the transaction, and the reality is that you do not get to send a double expense," adding, "I will cover any loss that occurs on a TRUE scam. at double expense Oh … I do not even expect to spend a penny, I will also help to ensure that the person doing it ends up spending a lot of time in a small cell. "
Wright also pointed out that keys should not be reused, where an address is used for more than one transaction. "If users simply did not use the same address more than once (ever), the idea of tracking" spam "payments would not exist at all," he said.
