Author: Peter Todd 2015-06-01 11:26:34
Published on: 2015-06-01T11:26:34+00:00
In a discussion between Pindar Wong and Mike Hearn, they agree that mining is more of a responsibility than a right. The service provided by Bitcoin miners is decentralization rather than transaction validation which every full node already does. Designing a Bitcoin protocol that creates appropriate incentives for mining to remain decentralized is crucial to get good value for the large amount of money being sent to miners. Large miners being more geographically centralized outcompeting smaller miners in more decentralized places is not desirable. Wong disagrees with Hearn's suggestion of running a node through a VPN because it decreases reliability and security.
Updated on: 2023-06-09T21:52:06.765876+00:00