The: Daniel ⚡️ on Nostr: The speed of the bitcoin network allows it to reach consensus globally across the ...
The speed of the bitcoin network allows it to reach consensus globally across the majority of active nodes before the next block is recorded, which reduces the chance of block reorganizations. It's what allows average plebs to run their own nodes on inexpensive hardware, and the block size limit keeps the storage and bandwidth requirements minimal. If blocks are released too fast, it opens up more avenues for malicious actors to centralize control. There is no reason for all transactions to be recorded permanently on the base layer. If you're buying a cup of coffee with Lightning, it's enough to know that your payment was received by the other party and that the channels the transaction went across have been anchored by the underlying chain. What's the point of keeping every single transaction record on every single node if all that's required is a simple value transfer?
Published at
2023-04-20 18:48:52Event JSON
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"content": "The speed of the bitcoin network allows it to reach consensus globally across the majority of active nodes before the next block is recorded, which reduces the chance of block reorganizations. It's what allows average plebs to run their own nodes on inexpensive hardware, and the block size limit keeps the storage and bandwidth requirements minimal. If blocks are released too fast, it opens up more avenues for malicious actors to centralize control. There is no reason for all transactions to be recorded permanently on the base layer. If you're buying a cup of coffee with Lightning, it's enough to know that your payment was received by the other party and that the channels the transaction went across have been anchored by the underlying chain. What's the point of keeping every single transaction record on every single node if all that's required is a simple value transfer? ",
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