Author: Hector Chu 2015-08-03 09:22:19
Published on: 2015-08-03T09:22:19+00:00
On August 3, 2015, Eric Lombrozo expressed concern over the safety of larger blocks in Bitcoin. He believed that security should be prioritized over throughput and acknowledged that there have already been two incidents requiring manual intervention due to consensus disagreement brought about by bigger blocks. Lombrozo argued that increasing block size could worsen the forking tendencies that require manual intervention. Hector Chu countered that the block size debate is political because it affects nearly all users and argued that everyone's decentralised decision throughout the system will act according to incentives. They both agreed that cooperation is necessary to resolve issues, but Lombrozo warned against assuming that miners will always prioritize consensus over personal gain. The economic majority sets the rules, not the miners.
Updated on: 2023-06-10T18:02:58.586870+00:00