Author: Santino Napolitano 2015-06-28 00:14:08
Published on: 2015-06-28T00:14:08+00:00
The ongoing debate about Bitcoin's nature and growth has little to do with block size or hard forks. The original author's intent was to create a system where running a full network node would enable mining, and the proceeds from mining would be the reward for continuing to operate these nodes. To make fees a sufficient reward, the size of the blocks must grow significantly along with the user base. The original author also intended organizations operating full network nodes to provide connectivity to light clients that would make up the majority of the user base. Decentralization and trustlessness were not the only design goals; some amount of trust might be preferred by a majority of users. The global decentralized consensus was meant to make the network resilient to a single government or other adversary's ability to shut it down. The author believed Moore's observation would keep the idea of running a full network node a practical one at a global scale for perpetuity. In short, revisiting the original author's design and scaling intentions can be helpful in moving forward together as a community.
Updated on: 2023-06-10T01:34:22.067675+00:00