Instant Transaction Fraud: An Explanation

Bitcoin security company BitGo has announced a new feature – BitGo Instant which promises instant settlement for bitcoin transactions. The service also guarantees recipients a compensation via a claim fulfilled by BitGo, if the transaction isn’t confirmed on the blockchain. In an announcement via a press release today, BitGo has launched BitGo Instant, a service that allows users to transfer bitcoin for real-time settlement, before the transaction is confirmed on the blockchain. The service is positioned to users who seek instant bitcoin transactions while securing the funds against the....

With the release of wallet version 11.1.25, Darkcoin again delivers on its promises. Instant transactions suitable for day-to-day living; the ability to hardfork without permanently breaking the blockchain (if something goes wrong); and being able to make money by supporting the blockchain (without mining). All these add up to an explanation of why Darkcoin is taken as a serious contender for Bitcoin's de facto supremacy. Also read: ASIC Coming For X-Algorithms: Darkcoin Watch Out. When asked on a recent episode of Beyond Bitcoin how he framed the problem that Darkcoin was designed to....

This article explains what a Bitcoin transaction is, its purpose and outcome. The explanation made below is suitable for both novice and intermediate Bitcoin users. As a cryptocurrency user you need to be familiar with transaction rudiments - for the sake of your own confidence with this evolving innovation, and as a foundation for understanding emerging multi-signature transactions and contracts, both of which will be explored later in the series. This is not a technical article and explanation will focus on what you need to know about standard bitcoin transactions - the spend....

Dash, a privacy-centric cryptocurrency that offers near instantaneous transactions, has developed a beverage vending machine that can secure a transaction without the need for a block confirmation. Dash enthusiasts believe the instant transaction and confirmation feature holds great potential for point-of-sale retailers. Dash enthusiast Dan Handler will be taking the machine to the d10e Conference in San Francisco, Calif. this month, July 19 to 20, where he hopes to generate interest in the instant transaction and confirmation capabilities of Dash’s InstantSend technology, previously....

The bitcoin wallet platform Coinbase has now enabled instant bitcoin purchases. Users will have to undergo identity verification, which will unlock instant transfer and larger transaction limits. Coinbase is still limited to the US only, but this move brings it into closer competition with the BitInstant exchange. Coinbase imposes transaction limits via so-called user levels. Level 2 accounts have the highest transaction limits. However, as a part of the new instant transfer facility, Coinbase says it has set all users at level 1, and it will require identity verification before anyone can....