Author: theymos 2011-12-18 17:09:39
Published on: 2011-12-18T17:09:39+00:00
In a discussion about Bitcoin's security model, Jordan Mack expressed concern about the idea of a header-only client. He believed that such clients break the fundamental aspects of Bitcoin's security model because they cannot do full verification and must rely on data from random anonymous peers. However, another participant argued that a headers-only client is better than trusting anyone since an attacker would need over 50% of the network's computational power to trick such clients.The conversation then shifted towards the issue of hardware costs and transaction demand. The participants acknowledged that for everyone to keep being a full node, hardware costs would need to constantly go down enough to handle enough transactions to meet demand. Otherwise, some people may be unable to handle being full nodes or the max block size wouldn't rise enough to meet demand, leading to noncompetitive transaction fees. This highlights the challenges faced by the Bitcoin network in terms of scalability and accessibility for all users.
Updated on: 2023-06-05T00:46:55.345560+00:00