Author: Andrew Lapp 2015-06-28 19:22:53
Published on: 2015-06-28T19:22:53+00:00
In a discussion about the blockchain and mining, Andrew Lapp shared his opinion that trustlessness is what matters and decentralization is synonymous with trustlessness. However, he also noted that centralization isn't necessarily synonymous with trust-requiring when discussing something else. He believes that central authorities can be part of an option if they don't need to be trusted. Gavin Andresen responded by questioning the use of payment channels between big financial institutions as a settlement layer and whether this would increase concerns about centralization. The larger the miner is on the blockchain, the more one has to trust them to not collude with anyone to reverse payments or destroy trust in the system through some attack. On the other hand, on the Lightning network, a large hub cannot steal money.
Updated on: 2023-06-10T01:21:55.689356+00:00