Author: Jorge Timón 2015-05-14 00:11:47
Published on: 2015-05-14T00:11:47+00:00
Gavin Andresen, a core developer of Bitcoin, believes that the use of proof-of-work to secure the chain will not be enough in the long run. He thinks it was the right way to secure the chain when Bitcoin was small and running on home computers, but alternatives might be ready to deploy 10 years from now. However, he also said that it is premature to worry about what will happen in twenty or thirty years. Andresen called Bitcoin an experiment and believes that incentives are correct, and motivated, hard-working people will make it work. Andresen suggested that payment channels could be the best solution to scalability at present, instead of increasing the block size. He argued that worrying about the future is healthy since we know it's something that will happen, but any threshold that separates "relevant worries" from "too far in the future to worry about it" will always be arbitrary. Andresen believes that clear criteria for hardforks are needed, such as defining uncontroversial changes and testing implementation of hardfork wishes that seem too small to justify a hardfork on their own. He thinks that we should focus on the hardfork debate rather than the block size one, hoping that once we have a clear criterion, the block size debate should become less noisy and more productive.
Updated on: 2023-06-09T20:40:22.436313+00:00