Bitcoin Core Dev Jeff Garzik: Softforks Are a Rule by a Tiny...

Bitcoin Core Dev Jeff Garzik: Softforks Are a Rule by a Tiny Elite

Advertised sites are not permitted by us. They might be unsafe, untrustworthy, or bootleg in your jurisdiction.

Jeff Garzik

Jeff Garzik

Jeff Garzik, a core bitcoin developer who formerly worked as Principal Software Engineer during RedHat before withdrawal to work full time on bitcoin development, settled in a open video that softforks are a order by a “tiny, few technocratic elite.”

The speak addressed a downsides of segwit “since usually a upsides are promoted heavily,” by firstly arguing that steady soothing forks are steady collusion.

Garzik states:

“Repeated softforks are steady agreements, a certain collusion, of these little few, to change a manners that a whole network is sealed in.”

Garzik states that node operators and businesses do not opt-in to a soft-fork, instead, a whole network is sealed in as usually miners need to upgrade. Non-upgraded nodes are left with reduce security, according to Garzik, and they serve need to trust miners and mining pools, undermining bitcoin’s trustlessness.

Segwit – The First Economic Soft Fork

Garzik states that a facilities segwit delivers are a “foundational change that enables other changes.” Although it has benefits, such as addressing transaction malleability and UTXO costs, Garzik

Read more ... source:

Advertise on the Bitcoin News


Read previous post:
Deloitte brings Bitcoin ATM to Toronto’s Financial District

CA, September 8, 2016 at 15:34 BST Move improves accessibility and hands-on learning as first step toward greater blockchain adoption...