Author: Pieter Wuille 2015-07-30 12:50:46
Published on: 2015-07-30T12:50:46+00:00
The discussion on increasing Bitcoin's block size to 8 MB continues among developers. Eric Lombrozo argues that there are hidden costs, including security risks, and that well-designed centralized systems can compete with Bitcoin in terms of cost, speed, reliability, convenience, and scale. Pieter Wuille agrees with this argument and believes that attempting to buy time with a fast increase is not wanting to face the reality that block chain space is a finite resource. He suggests that gradual scaling over time is a better approach, focusing on decreasing the need for trust required in off-chain systems rather than increasing the need for trust in Bitcoin.
Updated on: 2023-05-19T20:57:10.935030+00:00