Adam Back: ‘We Need to Hold on to the Decentralized Nature of Bitcoin’

Venomous Reddit comments and division may come to mind when you hear the words “blocksize debate” (at least if you’ve been following along). Yet in the latest episode of Epicenter Bitcoin proof-of-work inventor Adam Back argued technical consensus is still on the table.

Rewinding a bit, Back noted that decentralization has been difficult to preserve in the past. “PayPal started off as a bearer asset cash protocol, so something much more Bitcoin-like on palm pilots,” he said. “But migrated, presumably for practical reasons, into central web servers,” he said.

Back emphasized:

We need to hold on to the decentralized nature of Bitcoin and its permissionless properties. Everyone wants to scale bitcoin. It’s really complicated and there is no silver bullet. What we’re trying to figure out is, what is the safe, pragmatic way to do this.

A hardfork is neither, according to Back, who is also the co-founder and President of Blockstream and has been a loud voice in the blocksize debate. Why? Epicenter co-host Brian Crain asked what Back thought of a decision-making process whereby people choose which software to run. This is what Bitcoin XT does. If 75% of miners switch over by January,

Read more ... source: Cointelegraph