Author: Adam Back 2015-07-24 14:09:13
Published on: 2015-07-24T14:09:13+00:00
The article discusses the need for education regarding the use of full nodes and their importance in ensuring security and integrity for client funds. The author suggests that companies with large bitcoin ecosystems must insist on running their own full node and cross-checking them to reduce risk. The article also mentions the need for a basic minimum bar standard for companies to aim for and reducing custody through multisig and timelock. The author is optimistic about Bitcoin scaling and decentralization improving within a year due to active work on decentralization and layer 2 scaling solutions. The article emphasizes the importance of decentralization, economically dependent full nodes, and lower miner policy centralization for better scaling. It also mentions flexcap as an interesting way to add one more control variable for economically validated scaling and the potential problems with relying solely on miners to balance user utility against mining revenue.
Updated on: 2023-06-10T03:57:11.695465+00:00