Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Mike Hearn Leaves Bitcoin
by
Abiky
on 13/09/2024, 07:38:09 UTC
⭐ Merited by tbct_mt2 (1)
Bitcoin developers have many things in their consideration and to-do lists, not only scalability. Scalability means nothing if scaling up means less secured blockchain. So far, we have Bitcoin as a biggest and most secured blockchain to use, that's good and altcoin blockchains can not compare to Bitcoin blockchain in security.

6 confirmations on Bitcoin blockchain in security equal to hundreds to thousands of confirmations on altcoin blockchains.
https://howmanyconfs.com/

There needs to be a balance between security and scalability. Focusing only on security, would hinder adoption of Bitcoin worldwide. Especially when fees will rise all the way to the moon. You'll get security by paying an ultra-high transaction fee. This favors the wealthy, while the poor is forced to look for other options.

Again, L2 networks like the Lightning Network and Stacks are NOT the solution. They're just a short-term fix. Raising the block size a bit will help keep up with daily demand, without sacrificing too much security/reliability/decentralization. I'd say raising the block size to 8mb would be perfectly safe. It all lies in the hands of developers and the community. Here's hoping Mike Hearn makes a comeback soon. The project needs as much "quality" developers as possible to remain resilient. The community already lost Mike Hearn and Gavin Andressen. Will Luke Dashjr be next? I hope not.