Author: Ricardo Filipe 2014-03-25 20:40:40
Published on: 2014-03-25T20:40:40+00:00
In this email conversation between Peter Todd and Gavin Andresen, they discuss the scalability of Bitcoin. Todd argues that Bitcoin doesn't scale due to issues with updating the state of the UTXO set, which requires bandwidth equal to all the transaction volume resulting in infeasible O(n^2) scaling. However, Andresen disagrees, citing Satoshi's original thoughts on scaling, which imagined tens of thousands of mining nodes and hundreds of millions of lightweight SPV users. Todd responds by pointing out that the low number of pools is only due to miners not finding it feasible to mine on their own and mentions tree chains as a solution to decentralization. He also gives homework to Andresen to research tree-chains, Andrew Miller's non-outsourcable puzzles, and the cube-square law to understand why he doesn't think TXO commitments solve the blocksize problem. Lastly, the email includes a link to an O'Reilly book on Graph Databases and a Bitcoin-development mailing list.
Updated on: 2023-06-08T15:45:33.496242+00:00