Author: Tamas Blummer 2014-04-10 10:44:32
Published on: 2014-04-10T10:44:32+00:00
In an email conversation on April 10, 2014, Mike Hearn discussed the dominant model for obtaining transaction data in Bitcoin. He stated that in order to spend coins, you need transaction data which is traditionally obtained by scanning the blockchain. Hearn argued that there are two ways to obtain this transaction data without scanning the blockchain; either someone is doing chain scanning for free or you get your transaction data directly from the person who sent you the funds. Hearn acknowledged that the second option would resolve the catch 22 of spending bitcoins without talking to the P2P network first, but he believed it was unlikely to occur anytime soon. Tamas Blummer, CEO of Bitsofproof, responded to Hearn stating that finding a spot to deploy payment channels was a great idea but that the current situation was not the best for it.
Updated on: 2023-06-08T19:16:03.022488+00:00