bitcoin-dev

ossification and misaligned incentive concerns

ossification and misaligned incentive concerns

Original Postby Erik Aronesty

Posted on: November 5, 2023 14:59 UTC

The writer of the email challenges the common notion that miners provide network security.

They argue that miners only offer double spend insurance and nothing more, which consequently limits the size of transactions and the number of confirmations required for clearance. However, the writer asserts that this does not ensure security for the rest of the network. They emphasize that their private keys are private and their note is fully validating, meaning that miners have no control over it. The writer advocates for abandoning this narrative surrounding miners' role in network security.

Please note that this extracted summary is relative to the size of the email and may vary accordingly.