Author: Chris Page 2015-02-25 13:43:32
Published on: 2015-02-25T13:43:32+00:00
In an email exchange between Chris and Mike, Chris proposes a new scheme that would add incentives for running full nodes in the Bitcoin network. He argues that his proposal would make it easier for full nodes to enjoy rewards on modest hardware and would accommodate new users interested in earning Bitcoin through mining. With more people running full nodes, the blockchain becomes more secure, which ultimately benefits the entire ecosystem. Chris believes that his scheme could raise the bar from 51% to 101% to pull off an attack, but he is unsure if it helps on the sybil front. Mike provides feedback, stating that he does not see how Chris's proposal is different from actual mining and questions the difficulty of distinguishing full node sybils from each other. Chris acknowledges that he needs to be more crisp in his description of why his scheme is better than mining.
Updated on: 2023-06-09T18:03:07.785552+00:00