Author: Milly Bitcoin 2015-08-21 00:45:53
Published on: 2015-08-21T00:45:53+00:00
The idea behind creating a standardized metric is to compare similar things as tools and issues come up. The first step is to link centralization pressure and pressure to merge with a big miner to an overall decentralization metric. For instance, to analyze how much big miners reduce decentralization. However, this is a complicated analysis on its own. The goal is that the metrics do not take sides on any issue but just provide a measure of whatever it is being measured. Most of the references have to do with measuring decentralization in political systems, so a system would need to be developed to apply to software projects like Bitcoin. Pieter built a simulation tool, and Russ tweaked the parameters to test only for hashrate centralization effects, which did not conflate with network partitioning effects. He found that small miners were not disadvantaged by large blocks. Only one person commented on this result, agreeing with him, and complimented Pieter's insight.
Updated on: 2023-06-10T20:06:29.904950+00:00