Author: Eric Lombrozo 2015-06-28 05:48:04
Published on: 2015-06-28T05:48:04+00:00
The email thread on the bitcoin-dev mailing list from June 27, 2015, discussed the efficiency and security of fraud proofs. Eric Lombrozo clarified that SPV (Simplified Payment Verification) is currently fundamentally flawed and talked about potential optimizations for future protocols. Patrick Strateman pointed out that fraud proofs need to be more efficient than full node validation, which they currently are not. Lombrozo stated that fraud proofs do not have to be made super efficient but must be secure. He suggested aligning incentives by creating a market for them, making a scheme practical as very few fraud proofs ever need to be executed. However, he acknowledged that no design for fraud proofs that is both efficient and secure has been proposed. Strateman argued that Satoshi believed fraud proofs would be widely available and practical, and if so, SPV client security would be much closer to full node security than it is today. However, no such design exists yet. The email thread touched upon the original author's intent behind running a full network node, which was to enable mining, and how it would provide a reward for continuing to operate these nodes. Organizations operating full network nodes were intended to provide connectivity to light clients, which would make up the majority of the user base. The global decentralized consensus appears meant to make the network resilient to a single government or other adversary's ability to shut the network down. Overall, the email thread delved into the efficiency and security of fraud proofs and the original author's intent behind running a full network node.
Updated on: 2023-06-10T01:34:11.255347+00:00