top | item 22905541

People’s Bank of China started advanced testing of digital currency

4 points| CalmStorm | 6 years ago |forbes.com | reply

2 comments

order
[+] CalmStorm|6 years ago|reply
It is mentioned in the article that the digital currency supports offline transactions. How can this be done with blockchain, which required up-to-date information to validate transactions?
[+] yorwba|6 years ago|reply
One way to implement it would be to defer validation until nodes come back online, and if double-spending is detected at that point, well, that's fraud and it comes with cryptographic proof of guilt. The rest can be handled by the legal system.