Author: Luke Dashjr 2015-05-11 16:47:47
Published on: 2015-05-11T16:47:47+00:00
Sergio Lerner discusses how reducing block propagation time in the Bitcoin network can lead to centralization of mining pools and reduced security. He explains that while mining pool administrators would need to moderately invest in server infrastructure to achieve lower latency and higher bandwidth, most mining pools are run at a loss and have nothing to invest. Additionally, reducing block propagation time only on average case is good but it has to be considered what will happen in the worst case scenario. Thousands of SPV wallets running in mobile devices may require upgrading. Sergio also highlights that thousands of blocks mean more block headers, which increases the amount of bandwidth SPV wallets need to catch up with the chain.
Updated on: 2023-06-09T20:36:29.778560+00:00