Author: Eric Lombrozo 2015-07-24 20:28:28
Published on: 2015-07-24T20:28:28+00:00
The lack of understanding of how Bitcoin works and security engineering in general is a significant contributor to the problems faced by Bitcoin. A lack of education is needed to raise awareness of the importance of running a full node, particularly for companies with custody of client funds. Blockchain.info and Coinbase have both been cited as examples of companies without full nodes. While there is pushback from some quarters against the idea of requiring full nodes, there is pretty much unanimous agreement that they should be required at higher levels of certification. Decentralization and more layer 2 work are also seen as solutions to the centralization problem. However, the fact that Bitcoin and cryptocurrencies generally are still small enough that many foreseeable low probability but high impact events haven't happened yet makes it difficult to explain to non-technical stakeholders why they should be listening to experts rather than charlatans and fools.
Updated on: 2023-06-10T03:58:08.571804+00:00