Author: Matt Whitlock 2014-06-16 18:10:33
Published on: 2014-06-16T18:10:33+00:00
Mike Hearn, a prominent Bitcoin developer, expressed concern about a proposal that would incentivize nodes to process transactions based on the number of inputs or total kilobytes used. He raised concerns about potential perverse incentives, where nodes running full Bitcoin clients may be incentivized to conduct transactions with a large number of inputs to receive rewards. The reward system for bandwidth/storage usage would be constrained by proof of burn if paid via fees and proof of stake if paid via coin age. However, there are concerns that this proposal could lead to a network split between capitalist nodes that charge their peers and socialist nodes that expect their peers to submit transactions out of goodwill. These incompatible ideological camps may not interconnect, leading to a fragmented network.
Updated on: 2023-06-09T00:08:16.548349+00:00