Author: Pieter Wuille 2013-06-10 08:35:19
Published on: 2013-06-10T08:35:19+00:00
In a discussion about Bitcoin on June 10, 2013, Melvin Carvalho stated that the fundamental philosophy of Bitcoin was "one CPU one vote." However, Pieter Wuille clarified that Bitcoin is not a democracy but rather a zero-trust system. The rules are set and verified by every full node independently to ensure all nodes achieve the same result. While changes can occur if everyone changes their software, there is no mechanism for voting or changing which blocks are considered valid. The order of transactions is voted on because it is necessary, but miners cannot change the rules implemented in full nodes. Furthermore, proposed changes can become new hard rules in the system if consensus among users exists. Bitcoin is a consensus system at both the technical level and the people using it, meaning they ultimately decide the rules. Regarding the suggestion to stick with "one CPU one vote," Pieter Wuille argued against it as it would mean moving to a system where miners can decide everything instead of just ordering transactions, which goes against the zero-trust system's philosophy.
Updated on: 2023-05-19T17:01:27.666590+00:00