Re:Bitcoin Futures Start with a Bang as Rally Trips Circuit ...
by Frogolocalypse on Monday December 11, 2017 @05:42AM
(#15896232)
The purpose of this restriction is to protect the decentralization of bitcoin nodes. It is this decentralization of nodes that separates bitcoin from every other crypto competitor, and by some margin.
[ Parent
| on HN ]
Re:Bitcoin Futures Start with a Bang as Rally Trips Circuit ...
by aninhumer on Monday December 11, 2017 @08:09AM
(#15896790)
I'm not really sure how a small block size prevents centralisation?
Re:Bitcoin Futures Start with a Bang as Rally Trips Circuit ...
by etr-strike on Monday December 11, 2017 @10:06AM
(#15897395)
An increase in blocksize means an increase in propagation delay. Too much delay and miners who are closest to the most recent block get a head start mining the next block. Mining is suppose to be a lottery, not a race.
Research done on the matter shows that for each kb above the current 1mb block, 80ms of delay propagation is added.
Re:Bitcoin Futures Start with a Bang as Rally Trips Circuit ...
by brokenmachine on Monday December 11, 2017 @10:16PM
(#15902752)
Couldn't/Wouldn't the difficulty be adjusted down in that case so the blocks are mined faster?