Author: Mike Hearn 2014-04-10 09:17:28
Published on: 2014-04-10T09:17:28+00:00
The author of the given context is suggesting the use of instant machine-to-machine micro payments to incentivize committing resources to the network. However, some practical consequences need to be addressed. Firstly, to pay a node for serving, one needs bitcoins and to get bitcoins, one needs to sync with the network via a node. Secondly, if some nodes charge while others don't, smart wallets will always use the free nodes leading to an overload on them. This would eventually cause the free nodes to collapse while the for-pay nodes remain silent. Lastly, the only payment channel implementations available today are bitcoinj's and one written by Jeff in Javascript, there are no C++ implementations currently. The author still believes that basic optimizations should be the focus instead of architectural rethinks.
Updated on: 2023-06-08T19:17:06.535088+00:00