Author: Gavin Andresen 2015-11-08 14:54:04
Published on: 2015-11-08T14:54:04+00:00
The email conversation between Adam Back and Gavin Andresen discusses the security assumptions and design requirements of Bitcoin. The economically dependent full nodes are essential to assure Bitcoin's security, while miners play a role in the commodity economics competitive environment. It is critical that small miners are not significantly disadvantaged, and there should be no significant collusion advantages that create policy centralization as a side-effect. Validators vs Miner decentralization balance is also important to consider. While consensus rule enforced is the most secure defense, economic alignment, overt attacks, and meta-incentives can also serve as defenses. Best practices include keeping things simple, avoiding complex optimization problems for transaction processors, wallets, and miners, and an incremental approach to simplify deployment.
Updated on: 2023-06-11T00:53:35.000755+00:00