New write-up on Meta-Decentralized Crypto-Currencies: http://fare.tunes.org/computing/mdcc2018.html … Fast operations by centralized notaries, secure arbitration by decentralized consensus.
He can't cheat more than one person if the merchant software is careful to partake in the broadcast chat network that generates shared information about ongoing transactions: the moment a conflicting promise is found, everyone knows he's a cheat and his bond is doomed.
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That's the beauty of Slasher-style accountability, as adopted by Ethereum 2 or Tezos: trying to cheat people is not free, as it is with more primitive protocols. You *will* be caught, and you will lose all your assets, that include at least the bond.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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What if he does all the cheats at the same time?
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He can't: they will each wait the split second necessary for the broadcast network to advertise each other's transactions before they consider that no conflict was seen and the notary's word is so far true. In case there are network delays, they may wait longer.
End of conversation
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