Bitcoin Cash Double Spend Statistics Invoke 0-Confirmation Debate

On November 28, the creator of doublespend.cash, a web portal that tracks and collects double spend attempts on the Bitcoin Cash network, explained that only 1 out of 1,105 double spends succeeds when they broadcast one second after the first transaction. The website’s creator highlighted that in most cases “only when submitted simultaneously, can a double spend succeed.”

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BCH Proponents Discuss Double Spends, Honoring the ‘First Seen,’ and Current Zero-Confirmation Security

Bitcoin Cash (BCH) participants have always been intrigued by zero-confirmation transactions and concepts like double spend proofs that could strengthen instant transactions. Essentially a double spend is when someone tries to spend the same BCH to two different addresses. Even though it’s not common, double spends on digital currencies like BTC, BCH, and BSV can occur. The website doublespend.cash tracks attempts and successful double spends on the Bitcoin Cash blockchain. A Reddit user called Dagurval, a Bitcoin XT software developer and the creator of the data site, explained on Thursday that in order for double spends to succeed, they have to be sent simultaneously.

“Only 1 out of 1,104 double spend attempts succeeded when broadcast more than 1 second later,” the developer announced on Reddit. “The chart ‘Time between first seen and second seen’ shows the time difference between seeing the first transaction and the double spend,” Dagurval told BCH supporters. The developer added:

It demonstrates that in most cases, only when submitted simultaneously can a double spend succeed. It also shows that miners honor the ‘first seen’ policy.

After Dagurval posted the data, the BCH community discussed the risks of double spends and debated certain scenarios between a double spender and a merchant. “Good to know, so it means 0-conf is quite safe and [double spend]…

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