Author: Sergio Demian Lerner 2017-05-08 21:00:10
Published on: 2017-05-08T21:00:10+00:00
A full node provides various services to the Bitcoin network, including broadcasting blocks and transactions publicly or privately, filtering information for SPV nodes, and providing historic blockchain and state information to new nodes. Additionally, a full node increases privacy by hiding other node's IPs and enhances network security by protecting it from global DoS. While tip ideas encourage certain services, they cannot incentivize services 1 and 2. However, a solution to incentivize full nodes to store the blockchain is soon to be presented based on Proof-of-Unique-Blockchain-Storage (PoUBS), a feature that will be added to RSK to encourage both Bitcoin and RSK full nodes. This solution aims to further encourage service 6, while also increasing the number of nodes for services 3 and 4. LN's killer use case is micro-payments for online network services, not buying coffees. Establishing a channel with each peer is too expensive, but using LN to micro-pay for high-quality peer services can potentially aggregate very well. If this protocol is available around the same time as LN, it could incentivize full nodes even further than LN does, and allow the network to be strongly DDOS resistant.
Updated on: 2023-06-12T00:36:11.679847+00:00