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There will be a light client, which doesn't need to download blockchain. Only miners will be using the full chain. How it will work is explained in the author's
by mike_esspe 16y ago
There will be a light client, which doesn't need to download blockchain. Only miners will be using the full chain. How it will work is explained in the author's paper: http://www.bitcoin.org/sites/default/files/bitcoin.pdf http://www.bitcoin.org/sites/default/files/bitcoin.pdf
BTW google's implementations (http://code.google.com/p/bitcoinj/ http://code.google.com/p/bitcoinj/) works in this mode.
- richardw 16y agoWhen mining starts slowing down because it's too expensive or we hit the 21m limit, who takes up the ongoing work? I guess the benefits of contributing will move mainly towards commissions. What else?
- mike_esspe 16y agoCommission. Plus we won't hit 21m until the middle of 22th century. Probably there will be a post-scarcity (http://en.wikipedia.org/wiki/Post_scarcity http://en.wikipedia.org/wiki/Post_scarcity) by that time, so money will be only of historical interest :)
- mkramlich 16y agoI think Bitcoin's plans for the 22nd century should be revised to reflect the highly accurate predictions made by Hari Seldon using his psychohistory method. ;)