Author: Adam Back 2015-08-03 07:53:39
Published on: 2015-08-03T07:53:39+00:00
In an email, Adam Back, the CEO of Blockstream, urged caution in discussions about increasing the block size limit. He stated that the decision should not be based on political or business compromise, but should instead focus on scientific evaluation, technical requirements and security. To support his argument, he referred to a group of Chinese miners who have already refused to switch to Bitcoin XT and who are calling for consensus. Adam proposes a scientific approach using the analogy of the NIST SHA3 design process, whereby algorithms and parameters are analysed for security margin and speed optimisation. Finally, he emphasises the importance of rigorous analysis when considering such a change because of the significant amount of money at stake.
Updated on: 2023-06-10T18:02:28.341695+00:00