Adam Back on 3 Forms of Centralization That Have Crept Into Bitcoin



At the crux of the block-size limit debate in Bitcoin is an argument between scaling and securing the network. Although raising the block-size limit would allow more transactions to be processed in each block, it could also limit the ability for individuals in some parts of the world to run a full node or participate in the mining process. This problem would arise due to the increased costs of processing a greater number of transactions every 10 minutes as a full node.

Blockstream co-founder and President Adam Back recently discussed the security vs. scalability debate on an episode of Epicenter Bitcoin, noting that increased centralization due to a raised block-size limit could be even more problematic when factoring in all of the other forms of centralization that already exist in the digital cash system:

Mid<p><a href=Read more ... source: TheBitcoinNews