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20 sats \ 2 replies \ @nullcount 11h \ parent \ on: Mining 5 blocks in a row! Is this a real problem?? bitcoin_Mining
This is why many places of business require 3-6 block confirmations to render goods/services. However, as miners get more centralized, this should really be raised to 10-30 block confirmations, if you don't trust the miners to play nice.
My understanding... is that Foundry in this case (or any miner) would need to effectively mine 7 blocks consecutively (before any group of miners could collectively) without broadcasting any of them.
Then after the 6th block in the 'honest' chain is broadcast (6th block or 'confirmation' after a transaction occurs) Foundry would have to suddenly broadcast all 7 blocks which would not include some or many of the transactions that just took place 6 blocks before.
This would basically be... a 're-org' after 6 blocks (how long it takes for full confirmation.)
Basically, just mine 7 consecutive blocks in sequence, without announcing any of them, before 7 blocks can be added to the chain consecutively (by any number of miners). Then 'suddenly' announce the 7 blocks, potentially not including transactions that people had waited 6 confirmations for.
In order to 'double-spend' or 're-spend' UTXOs that are now unspent.
I believe that's my understanding.
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