{"type":"rich","version":"1.0","author_name":"npub1m230cem2yh3mtdzkg32qhj73uytgkyg5ylxsu083n3tpjnajxx4qqa2np2","author_url":"https://nostr.ae/npub1m230cem2yh3mtdzkg32qhj73uytgkyg5ylxsu083n3tpjnajxx4qqa2np2","provider_name":"njump","provider_url":"https://nostr.ae","html":"📅 Original date posted:2015-06-27\n📝 Original message:On Sat, Jun 27, 2015 at 01:25:14PM -0400, Michael Naber wrote:\n\u003e Global network consensus means that there is global network recognition\n\u003e that a particular transaction has occurred and is irreversible. The\n\u003e off-chain solutions you describe, while probably useful for other purposes,\n\u003e do not exhibit this characteristic and so they are not global network\n\u003e consensus networks.\n\nHub-and-spoke payment channels and the Lightning network are not\noff-chain solutions, they are ways to more efficiently use on-chain\ntransactions to achive the goal of moving assets from point a to point\nb, resulting in more economic transactions being done with fewer - but\nnot zero! - blockchain transactions.\n\nOff-chain transaction systems such as Changetip allow economic\ntransactions to happen with no blockchain transactions at all.\n\n\u003e Bitcoin Core scales as O(N), where N is the number of transactions. Can we\n\u003e do better than this while still achieving global consensus?\n\nNo, Bitcoin the network scales with O(n^2) with your above criteria, as\neach node creates k transactions, thus each node has to verify k*n\ntransactions, resulting in O(n^2) total work.\n\nFor Bitcoin to have O(n) scaling you have to assume that the number of\nvalidation nodes doesn't scale with the number of users, thus resulting\nin a system where users trust others to do validation for them. That is\nnot a global consensus system; that's a trust-based system.\n\nThere's nothing inherently wrong with that, but why change Bitcoin\nitself into a trust-based system, when you can preserve the global\nconsensus functionality, and built a trust-based system on top of it?\n\n-- \n'peter'[:-1]@petertodd.org\n0000000000000000007fc13ce02072d9cb2a6d51fae41fefcde7b3b283803d24\n-------------- next part --------------\nA non-text attachment was scrubbed...\nName: signature.asc\nType: application/pgp-signature\nSize: 650 bytes\nDesc: Digital signature\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20150627/7e726f75/attachment.sig\u003e"}