Peter Todd [ARCHIVE] on Nostr: 📅 Original date posted:2015-06-27 📝 Original message:On Sat, Jun 27, 2015 at ...

📅 Original date posted:2015-06-27
📝 Original message:On Sat, Jun 27, 2015 at 02:02:05PM -0400, Jameson Lopp wrote:
> > For Bitcoin to have O(n) scaling you have to assume that the number of
> > validation nodes doesn't scale with the number of users, thus resulting
> > in a system where users trust others to do validation for them. That is
> > not a global consensus system; that's a trust-based system.
> >
> >
> Why does it matter what the "total work" of the network is? Anyone who is
> participating as a node on the network only cares about the resources
> required to run their own node, not the resources everyone else needs to
> run their nodes.
>
> Also, no assumption needed, it is quite clear that the number of nodes is
> not scaling along with the number of users. If anything it appears to be
> inversely proportional.

Which is a huge problem.

Concretely, what O(n^2) scaling means is that the more Bitcoin is
adopted, the harder it is to use in a decentralized way that doesn't
trust others; the blocksize limit puts a cap on how centralized Bitcoin
can get in a given technological landscape.

--
'peter'[:-1]@petertodd.org
0000000000000000007fc13ce02072d9cb2a6d51fae41fefcde7b3b283803d24
-------------- next part --------------
A non-text attachment was scrubbed...
Name: signature.asc
Type: application/pgp-signature
Size: 650 bytes
Desc: Digital signature
URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20150627/958e8351/attachment.sig>;