Author: Eric Lombrozo 2015-07-05 20:53:51
Published on: 2015-07-05T20:53:51+00:00
In a discussion on the bitcoin-dev mailing list, Eric Lombrozo argued that currently, trust has been introduced into various elements of the Bitcoin network to allow it to function, a situation which undermines the security model upon which Bitcoin is based. He notes that while the introduction of trust might be acceptable in other situations, such an approach is contrary to the raison d'être of Bitcoin which is supposed to be trustless. Justus Ranvier replied to Lombrozo's comments arguing that while trust has been introduced into some areas of the Bitcoin network, this does not mean that Bitcoin has abandoned its security model entirely. Rather, he argues that the security model holds as long as users have access to the complete blockchain, and that the main issue lies in the lack of a mechanism to prove the invalidity of blocks for honest nodes. Ranvier suggests that building such a mechanism would improve the security of SPV clients. In response to Lombrozo's earlier comment, Ranvier also points out that Lombrozo may not have fully understood the Bitcoin security model in the first place.
Updated on: 2023-06-10T02:11:46.449890+00:00