Author: Thomas Guyot-Sionnest 2017-09-01 19:40:44
Published on: 2017-09-01T19:40:44+00:00
In a discussion on Bitcoin-dev mailing list, Cserveny Tamas talked about the scalability issues of bitcoin network. He suggested that the only way to scale with traffic and lowering fees is either increasing block size or reducing complexity which may compromise security. However, another member disagreed with the idea that reducing complexity would be less secure as long as confirmation is adjusted accordingly. They argued that if one decided to mine one block every minute, then the usual 6 confirmations should become 60 confirmations, making it just as secure. Additionally, since the average hash rate over 60 blocks is more accurate than over 6, it could actually be argued that it's more secure when considering hash rate variation as part of the confirmation process.
Updated on: 2023-06-12T17:58:45.330355+00:00