Author: Adam Back 2015-07-31 10:16:15
Published on: 2015-07-31T10:16:15+00:00
The email thread discusses the issue of trust in data centers and their ability to run verified code, avoid being hacked, filter traffic, and respond to court orders without notifying users. The reality of data center security breaches and policy attacks is highlighted with references to Snowden disclosures and the need for awareness of security. A compromise proposal is presented regarding the block size limit increase in Bitcoin, with details on initiation, starting date, and gradual increase in block size over a period of 16 months. The rationale behind each parameter is explained, including SSD price reduction and global bandwidth growth predictions. The author also comments on the need for a fee market but cautions against excessive fee pressure at this time when the block reward is still the main income source for miners. Finally, the author emphasizes the importance of increasing the underlying settlement system's capacity before building secondary layers such as Lightning Network.
Updated on: 2023-06-10T17:57:19.215849+00:00