If I understand correctly, it seems that someone could theoretically try to double spend with a higher fee and get accepted into the block. But that would only harm the other party if they weren't the same. I figure it's no different than how Bitcoin is right now as far supply goes. Anyone with that much power can fuck pretty much anything up I think

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you mean they spend to one address and then immediately spend to their own address? using a higher fee to incentivize that the second transaction gets mined instead of the first? My understanding is that that won't work on Monero because the second transaction will also contain the key images from the outputs in the first transaction and consensus won't allow key images to appear twice. so there will be a race condition between the two transactions. memools that have seen the key images from one transaction won't relay the other one. and the first one has a head start so it seems unlikely that the second one would propagate across the network.
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