A free and open source Bitcoin trading tool has been developed by two students
Get know Fomero!
Fomero is the leading double-spend tool for blockchain-related projects. It allows you to test your application for double-spending.
What is double-spend?
Double-spend consists in spending the same coins twice. This tool emits two different transactions using the same coins. One of the transactions goes to your target’s wallet, whereas the second transaction goes back to you. Once the second transaction gets confirmed, the first one is cancelled.
Why should I care?
An application vulnerable to double-spending allows anyone using this tool to buy products and services with bitcoin, for free. From digital goods to physical products.
Can I get confirmations before double-spending a transaction?
No. This would only be possible through a 51% attack, where you would mine more blocks faster than all the network miners, in order to create and broadcast a longer blockchain (that would get accepted by the network). This would be pretty expensive, however.
How can Fomero help me in protecting my website?
If you accept crypto-currencies on your website, this tool will help you to find out if you are vulnerable to double-spend attacks. Through double-spending coins, users could get digital and/or physical products for free by cancelling unconfirmed transactions.