Author: Jameson Lopp 2015-07-30 16:43:56
Published on: 2015-07-30T16:43:56+00:00
Jameson Lopp, a bitcoin developer, expresses concern about the current state of the network and the lack of concrete timelines for the rollout of high volume networks. He believes that while new layers may facilitate higher transaction volumes in the future, the scalability proposals currently being developed are not magic bullets and still require occasional on-chain settlement. He also notes that larger blocks will be necessary with or without actual scalability enhancements. In response to Jameson's claim that users will not care if the cost or contention of using the network rises to exclude the average user from making transactions as long as they can run a node at a trivial cost, Bryan Bishop poses a scenario where transactions are summarizing millions or billions of other daily transactions. He questions why users would not be interested in verifying the presence of a summarizing transaction in the blockchain even if they cannot individually broadcast their own personal transaction.
Updated on: 2023-06-10T04:27:49.554532+00:00