Author: Mike Hearn 2013-07-17 13:56:27
Published on: 2013-07-17T13:56:27+00:00
In this context, Tamas Blummer discusses the potential for a majority coalition of miners to change block reward rules, and emphasizes the importance of full validation by any "important" node in the economy. The concern is that a miner coalition could award themselves money which SPV clients would accept, but if someone tried to cash out or use the money, they would notice something had gone wrong. Therefore, it's important for end user wallets to use SPV, while merchants should avoid it unless they're on a tight budget. Overall, full validation remains crucial to ensure the integrity of the Bitcoin network.
Updated on: 2023-06-06T20:11:24.913153+00:00