Author: Peter Todd 2015-06-27 18:47:51
Published on: 2015-06-27T18:47:51+00:00
Jameson Lopp and Peter Todd had a discussion about Bitcoin scaling in 2015. Lopp argued that for Bitcoin to have O(n) scaling, the number of validation nodes has to remain constant with the number of users; if not, it results in a trust-based system. However, Todd argued that it doesn't matter what the total work of the network is, as participants only care about the resources required to run their own node. In addition, Todd pointed out that the number of nodes is inversely proportional to the number of users, which is a significant problem. O(n^2) scaling means that the more Bitcoin is adopted, the harder it is to use in a decentralized way without trusting others. The blocksize limit puts a cap on how centralized Bitcoin can become in a given technological landscape.
Updated on: 2023-06-10T01:20:34.572235+00:00