3 ms·
Bitcoin has mining centralization problem due to following phenomena, bigger blocks increase it further & will kill bitcoin in long-term: 1. The median propaga
by kang 11y ago
Bitcoin has mining centralization problem due to following phenomena, bigger blocks increase it further & will kill bitcoin in long-term:
1. The median propagation time is comparable for various locations[0] & mostly a factor of blocksize. Article[1]. Or you could watch the scaling bitcoin conference videos on youtube.
2. Mining variance[3]
[0]https://research.tradeblock.com/wp-content/uploads/2015/06/Prop-Time-by-Geog.png https://research.tradeblock.com/wp-content/uploads/2015/06/P...
[1]https://tradeblock.com/blog/bitcoin-network-capacity-analysis-part-6-data-propagation https://tradeblock.com/blog/bitcoin-network-capacity-analysi...
[3]https://medium.com/@lmgoodman/why-mining-variance-matters-80ef0ff4b183 https://medium.com/@lmgoodman/why-mining-variance-matters-80...