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The idea is that personal computers are ubiquitous and cheap, pack plenty of computational power and storage. Bandwidth is relatively cheap as well. Running a n
by chm 11y ago
The idea is that personal computers are ubiquitous and cheap, pack plenty of computational power and storage. Bandwidth is relatively cheap as well. Running a node or a thin client thus doesn't prevent you from using the computer to do other things.
People will buy computers anyway, why not use them to run a blockchain network as well as for word processing? The costs are amortized by the users.
- TylerE 11y agoSo in other words "wave hands dismissively"?
- chm 11y agoWell, basically yes. It's a non-issue in my opinion under reasonable assumptions.
- microarchitect 11y agoSomething a lot of bitcoiners don't seem to realize: the security of a blockchain is entirely due to the fact that it is too expensive to attack it. If your blockchain is "secured" by a motley bunch of ragtag microcontrollers, the first guy to point an ASIC at this chain can 51% attack it willy-nilly and render the blockchain useless. PS. This is not a theoretical statement. It has happened to numerous altcoins. PPS. In case it needs spelling out, the fact that its too expensive to attack the blockchain means that it is even more expensive to secure it (because miners need to make a profit).