Author: Justus Ranvier 2014-02-28 19:36:31
Published on: 2014-02-28T19:36:31+00:00
Mark Friedenbach, in an email dated February 28th, 2014, discussed how transaction fees serve as a cost to the person making the transaction but do not compensate those who validate the blockchain. He argued that this is an externality and that the existing network layer is broken and needs to be fixed. Friedenbach suggests that the root cause of the problem should be addressed, rather than enshrining the flawed behavior and using it as a roadblock to progress. He believes that if Bitcoin's existing network is not incentive compatible, then the P2P network should be addressed. Additionally, Friedenbach encourages users to support online privacy by implementing email encryption whenever possible, offering a link to learn how.
Updated on: 2023-06-08T03:22:45.135918+00:00