Author: Lawrence Nahum 2014-06-16 17:16:24
Published on: 2014-06-16T17:16:24+00:00
Mike Hearn, a software developer at plan99.net, discusses the potential centralization of Bitcoin mining in a post on Bitcointalk.org. He argues that as long as miners stick to Satoshi's first seen rule, which is currently the default, it is useful. If they change to something like highest-fee-always-wins, then they would centralize things by forcing instant transactions to pay GreenAddress and its competitors money, leading to implicit centralization. Hearn questions whether rules can be enforced on miners about which transactions will go in and which won't, and whether this will cause more or fewer double spends. He would rather have the option to pick a third party instant provider explicitly than enforce bigger rules on mining, which he believes would lead to implicit centralization.
Updated on: 2023-06-09T00:02:48.483303+00:00