Author: Andrew 2015-05-08 17:17:49
Published on: 2015-05-08T17:17:49+00:00
In a mailing list discussion in 2015, Alan Reiner argued that if Bitcoin is to become a global, open transaction network that makes money fluid, its goal of having everyone run a full node with their $200 Dell laptop is not feasible. Reiner believed that such a system can never be fully and constantly audited by everyone and the important feature of the network is that it is open and anyone can get the history and verify it, but not everyone is required to. He suggested that clinging to that goal needlessly limits the capability of the network to scale to be a useful global payments system. Jeff Garzik agreed that 7 tps is too low for any meaningful commercial activity to occur. However, he argued that scaling up to handle all the world's coffees is hugely unrealistic as it would require 100MB blocks and highly centralized networks, making it difficult for people to run nodes.
Updated on: 2023-06-09T19:41:40.856092+00:00