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Hi guys I am doing some research on double spending in the bitcoin network several ideas have been confusing me:
In prevention of Race attacks, merchants are advised to "connect to a large random sample nodes in the network".
First of all, What do they mean by this? How is it done?
Secondly, how do attackers initiate the attack? All I know is they make 2 transactions of same reference, one to themselves the other to the merchant who recognizes only the latter and surrenders his goods.
In an article on prevention, it states "We assume that the attacker may connect to an arbitrary number of nodes in the network to broadcast any number of transactions claiming outputs to its possession."
What exactly does this mean?
Thank you guys, I know this question is very condensed but I appreciate any help.
EDIT: Does it mean that I can go out and send X amount of bitcoins to myself and immediately spend the same amount, X on a merchant to defraud him?
Isn't that just too easy?
"conflicting transaction to a larger number of nodes in the Bitcoin network" How do they do this? I am still very new to bitcoins, I thought 1 device was connected to 1 node? – user14900 – 2014-03-30T01:48:05.297
A node refers to one running instance of a Bitcoin client acting as a node in the peer-to-peer Bitcoin network. Usually it connects to several other nodes, amongst other things to propagate your Bitcoin transactions. A malicious party can obviously program his Bitcoin client differently, including the option to connect to very many other nodes in an attempt to spread one of teh double spending transactions particularly quickly. – pyramids – 2014-03-30T08:24:23.907