How safe are instant transactions? Current limits and its potential

JuanSGalt

JuanSGalt

Well-known member
Howdy! doing some research on Darkcoin, now in particular about instantX.

One concern and criticism I've heard is that, if the receiver of an IX is able to resend it elsewhere, say to an exchange to trade for bitcoin. And there is a rollback on the source of that tx, than the exchange would lose.

are IX allows to be re sent by the receiver as soon as the masternodes lock it for the sender?

--
 
JuanSGalt said:
Howdy! doing some research on Darkcoin, now in particular about instantX.

One concern and criticism I've heard is that, if the receiver of an IX is able to resend it elsewhere, say to an exchange to trade for bitcoin. And there is a rollback on the source of that tx, than the exchange would lose.

are IX allows to be re sent by the receiver as soon as the masternodes lock it for the sender?

--
Click to expand...
Only after a POW confirm can you resend those funds. You can't IX until 6 POW confirms.
 
5.2 under "futher work" suggests that instantx will be possible without waiting for confirmations, with something called "instant validations".

I guess this is still in the works than. I would quote it, but the pdf is writen in a hellish format. as if I had pressed enter after every letter. anyway, here's the link.

https://www.darkcoin.io/wp-content/uploads/2014/09/InstantTX.pdf

Thank you for the clarification oblox
 
InstantX is for the receiver to know that the funds are as good as theirs for POS type sales without having to wait the long and drawn out process of finding blocks via POW for confirmations. For all intensive purposes, it works as it should.
 
So its for relatively small retail transactions. Is it safe for say exchanges to accept InstantX's at face value?
 
Last edited by a moderator:
I'm sorry if I've come off overtly critical btw. I just have been keeping an eye on darkcoin for a while and I think it is time for me to take a closer look. I also think there may be important information about the current limitations and potential of Darkcoin's IX that needs to be -say- broadcast to the human network. :)
 
I'm starting to get a better understanding of Darkcoin's goal too. Or rather of Evan's goal.

"The goal of Darkcoin, is to be the best possible e-currency. With Darksend (for anonymity) and InstantX providing nearly instant payment technology, we can reinvent the way digital currency is used on the internet and in bricks-and-mortor locations. Future users will be able to enjoy phone-to-phone transactions that allow privacy and provide payments instantly for quick settlement. All of this is possible without any centralization and in a trustless way using the Masternode concept." - Evan.
 
Ok, here's another one.

Given that IX txs broadcast the tx id of the transaction. Isn't that an information leak? in other words, is there any use in combining darksend with IX, as far as keeping the information private? or are IX and DS+ currently two separate and non compatible features?
 
JuanSGalt said:
Ok, here's another one.

Given that IX txs broadcast the tx id of the transaction. Isn't that an information leak? in other words, is there any use in combining darksend with IX, as far as keeping the information private? or are IX and DS+ currently two separate and non compatible features?
Click to expand...
I'm not sure what you mean about "an information leak". The goal of Darksend is to keep transactions not traceable back to the origin address. Darksend and InstantX are two separate features, correct. You can use InstantX to send a normal (non-Darksend) transaction or an anonymous (Darksend) transaction.
 
well, IX broadcasts the tx ID, so if im snooping on the incomming packets and their IX tx ids than I could look that up on the blockchain and find the deposit address. So that's what I meant by information leak.

But yes, You've answered my question, ty.
 
JuanSGalt said:
well, IX broadcasts the tx ID, so if im snooping on the incomming packets and their IX tx ids than I could look that up on the blockchain and find the deposit address. So that's what I meant by information leak.

But yes, You've answered my question, ty.
Click to expand...
the broadcast of the tx id is not related to ix at all. normal transactions have this "leak" too.

curious* on what you are working on.

*) scared
 
vertoe said:
the broadcast of the tx id is not related to ix at all. normal transactions have this "leak" too.

curious* on what you are working on.

*) scared
Click to expand...
I'm guessing... He thinks if it's a Darksend transaction sent by using InstantX, the sender's address or receiver's address should not be shown on the block chain... and that's what he meant about "the deposit address"... ? But a Darksend address isn't an origin address, and Darksend does not hide receiver's address.
 
Well, I'm getting scepticism about instantX from developers from the outside. So im doing research to reconcile what you guys are saying and what they generally think.

In the middle, im seeing if there is a story here, as a journalist.

At a deeper level, im trying to learn more about this tech and what it can do. I'd like to interview a dev like your self Vertoe if you are interested.
 
JuanSGalt said:
Well, I'm getting scepticism about instantX from developers from the outside. So im doing research to reconcile what you guys are saying and what they generally think.

In the middle, im seeing if there is a story here, as a journalist.

At a deeper level, im trying to learn more about this tech and what it can do. I'd like to interview a dev like your self Vertoe if you are interested.
Click to expand...
I like it that you seem to be diligent as a journalist to take your time investigating the subject first before writing your story. I always appreciate non-biased, informed journalists. :)
 
Thank you Moli. Yeah, I sure am putting allot of time into this one. :) I've read a couple of articles about it though and it seems that there is information missing or a general lack of clarity about IX. So its an interesting opportunity. An interview or chat with someone would be the fastest way for me to get the right information.
 
JuanSGalt said:
Thank you Moli. Yeah, I sure am putting allot of time into this one. :) I've read a couple of articles about it though and it seems that there is information missing or a general lack of clarity about IX. So its an interesting opportunity. An interview or chat with someone would be the fastest way for me to get the right information.
Click to expand...

I'm not one of the devs, but if you are interested I'd be happy to help you get a testnet version of the Darkcoin wallet running. That way you can test out the Darkcoin features without risk.
 
JuanSGalt said:
Thank you Moli. Yeah, I sure am putting allot of time into this one. :) I've read a couple of articles about it though and it seems that there is information missing or a general lack of clarity about IX. So its an interesting opportunity. An interview or chat with someone would be the fastest way for me to get the right information.
Click to expand...
No problem, and thank you! :)

Let me tag our devs vertoe, UdjinM6, flare, Aswan, eduffield, crowning for you to see who can give you an interview.

We also have Testnet and if you'd like to test out the system at orangecycle's suggestion, we'll be happy to help you out too.
 
You must log in or register to reply here.
Back
Top