4 ms·
I never understood this argument. The cost of mining already centralizes nodes to the point where block size is not a factor. People that are able to run cost e
by Blockbuster 6y ago
I never understood this argument. The cost of mining already centralizes nodes to the point where block size is not a factor. People that are able to run cost effective mining setups are also able to support blockchains of any size. Given the current state of mining, how would switching to 10mb blocks increase centralization?
- grubles 6y agoBlock propagation speed.
- CyberDildonics 6y agoHow does that make any sense? Block sizes are under 1MB. Anyone can rent a VPS for under $10 USD per month that would transfer that in 1/100th of a second. The block time is 10 minutes. Why do people repeat stuff like this? Is it because you have seen other people say it and never stopped to look at the math?
- xorcist 6y agoMiner centralization is not without risks, but is fundamentally very different from centralizing economic activity, with different security outcomes. A dominating miner runs the risk of a 51% attack, which can cause denial of service or censorship, but game theory dictates that the missed opportunity cost is huge. A dominating economic actor makes the whole blockchain an obsolete backend to something like Paypal.