Author: Lloyd Fournier 2020-05-05 15:16:01
Published on: 2020-05-05T15:16:01+00:00
In a discussion on the bitcoin-dev mailing list, Antoine Riard suggested that the trust-minimization of Bitcoin's security model has always relied on running a full node, which may no longer be necessary due to the Lightning Network (LN). However, Luke Dashjr responded by stating that this paradigm cannot be shifted as it would compromise Bitcoin's security, which depends on the assumption that a supermajority of the economy is verifying their incoming transactions using their own full node. When asked how not verifying incoming transactions could affect anyone else, Dashjr pointed to "miner control" as the culprit. If a light client follows a dishonest majority of hash power chain, it could lead to a situation where users are scammed and receive payments in a miner scamcoin on their dishonest fork, thinking that it is BTC. While this scenario may only seem to damage the individual user, it still has a side effect on others in the network.
Updated on: 2023-06-14T01:14:09.654927+00:00