Author: odinn 2015-06-13 06:05:35
Published on: 2015-06-13T06:05:35+00:00
Mike Hearn, a former Bitcoin developer, expressed his views on the importance of decentralization and usage. He suggested that for those who believed that decentralization should be the ultimate goal of the cryptocurrency system, they should use an "ASIC resistant" alt-coin with no SPV or web wallets which resembled Bitcoin at the end of 2009. Hearn also emphasized that the absolute number of independent people who mine is more important than the percentage of the community that mines.Another participant in the discussion asked whether having more usage but concentrated power in a smaller elite group would be preferable. Hearn cited an example where there are 5000 full nodes today and 6000 in ten years, all running in vast data centers owned by large companies. He questioned whether Bitcoin would be considered as more decentralized than ever in such a situation.The PGP signed message also included a link to a tweet by Adam Back regarding a protocol concept called ABIS.IO, which enables decentralization and expansion of a giving economy, and a new social good. The message also contained the PGP signature of the sender, Odin, who shared a keybase profile.
Updated on: 2023-06-09T22:00:44.893129+00:00