Author: Raystonn . 2015-06-15 19:36:32
Published on: 2015-06-15T19:36:32+00:00
A user named sickpig emailed Raystonn and Bitcoin Dev to ask if Justus Ranvier had started working on implementing the ideas contained in a post he linked, which discusses economic fallacies and the block size limit. Raystonn responded with an idea he proposed to make it sustainable and profitable to run full nodes on the Bitcoin Network in the long term. He suggested that nodes participate in a market where they are paid by nodes, wallets, and other services to supply Bitcoin Network data, and payments should be based on the cost imposed on the Node to do the work and send the data. Nodes that are mostly leeching data from the Bitcoin Network will send payments to the nodes they connect to but will likely receive no payments from other nodes, wallets, and other services. The cost to run nodes will be shared by those who are using the network but not contributing by running a full node. A market will develop for fees to connect to the Bitcoin Network, which should help cover the cost of running the network. Market efficiencies should eventually mean nodes take in only what is required to keep the network operational.
Updated on: 2023-06-09T23:20:09.216266+00:00