Why is increasing block size in the Bitcoin network considered to decrease security?
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I have been doing some research on the Bitcoin Cash hard fork and the main contention of increasing the block size appears to be the possibility of less security on the network. How does an increased block size result in a less secure network?
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I have been doing some research on the Bitcoin Cash hard fork and the main contention of increasing the block size appears to be the possibility of less security on the network. How does an increased block size result in a less secure network?
security block
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add a comment |
up vote
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down vote
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up vote
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down vote
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I have been doing some research on the Bitcoin Cash hard fork and the main contention of increasing the block size appears to be the possibility of less security on the network. How does an increased block size result in a less secure network?
security block
New contributor
I have been doing some research on the Bitcoin Cash hard fork and the main contention of increasing the block size appears to be the possibility of less security on the network. How does an increased block size result in a less secure network?
security block
security block
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CipherLee
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Generally speaking, a larger block leads to more computational resources (tx validation, bandwidth, storage, memory) required for each person who wishes to validate newly confirmed transactions.
Higher validation cost lead end-users to rely on/trust
centralised services to "validate" their transactions.Larger blocks require more time to propagate in the network,
increasing pooling pressures for more centralized mining-pools.
The lower the validation cost, the more we can push validation to the edge (end-user) of the network, the more decentralisation we can achieve. Decentralisation is ultimately the source of security, as it is harder for an external force to attack.
New contributor
Also, off-chain transactions can be made for much cheaper without sacrificing security. No need to store the history of daily coffee purchases of everybody on all Bitcoin nodes in the network.
– JBaczuk
yesterday
2
Well - there is a security sacrifice to be 100% fair. There is no insurance against failing to respond to a cheating counter-party in payment channels. The required vigilance is an additional risk that a confirmed transaction does not have.
– James C.
yesterday
Can you explain in more detail? Also, even a confirmed transaction still has the small risk of a reorg. There are even users who choose to accept transactions before they have one confirmation (cringe).
– JBaczuk
yesterday
3
That is true. A user can choose how much security he requires from a confirmed transaction before accepting it. Yet a commitment tx, even though it is valid, has not even been confirmed, which is why I mean it has less security. So a lightning payment (a new commitment tx) cannot have the same security as a confirmed tx with a confirmation depth. The entire payment channel capacity amount is in fact still “pending” confirmation.
– James C.
yesterday
1
Right, thanks. It's important that it remain easy to broadcast the state of the channel at any time.
– JBaczuk
yesterday
|
show 1 more comment
1 Answer
1
active
oldest
votes
1 Answer
1
active
oldest
votes
active
oldest
votes
active
oldest
votes
up vote
10
down vote
Generally speaking, a larger block leads to more computational resources (tx validation, bandwidth, storage, memory) required for each person who wishes to validate newly confirmed transactions.
Higher validation cost lead end-users to rely on/trust
centralised services to "validate" their transactions.Larger blocks require more time to propagate in the network,
increasing pooling pressures for more centralized mining-pools.
The lower the validation cost, the more we can push validation to the edge (end-user) of the network, the more decentralisation we can achieve. Decentralisation is ultimately the source of security, as it is harder for an external force to attack.
New contributor
Also, off-chain transactions can be made for much cheaper without sacrificing security. No need to store the history of daily coffee purchases of everybody on all Bitcoin nodes in the network.
– JBaczuk
yesterday
2
Well - there is a security sacrifice to be 100% fair. There is no insurance against failing to respond to a cheating counter-party in payment channels. The required vigilance is an additional risk that a confirmed transaction does not have.
– James C.
yesterday
Can you explain in more detail? Also, even a confirmed transaction still has the small risk of a reorg. There are even users who choose to accept transactions before they have one confirmation (cringe).
– JBaczuk
yesterday
3
That is true. A user can choose how much security he requires from a confirmed transaction before accepting it. Yet a commitment tx, even though it is valid, has not even been confirmed, which is why I mean it has less security. So a lightning payment (a new commitment tx) cannot have the same security as a confirmed tx with a confirmation depth. The entire payment channel capacity amount is in fact still “pending” confirmation.
– James C.
yesterday
1
Right, thanks. It's important that it remain easy to broadcast the state of the channel at any time.
– JBaczuk
yesterday
|
show 1 more comment
up vote
10
down vote
Generally speaking, a larger block leads to more computational resources (tx validation, bandwidth, storage, memory) required for each person who wishes to validate newly confirmed transactions.
Higher validation cost lead end-users to rely on/trust
centralised services to "validate" their transactions.Larger blocks require more time to propagate in the network,
increasing pooling pressures for more centralized mining-pools.
The lower the validation cost, the more we can push validation to the edge (end-user) of the network, the more decentralisation we can achieve. Decentralisation is ultimately the source of security, as it is harder for an external force to attack.
New contributor
Also, off-chain transactions can be made for much cheaper without sacrificing security. No need to store the history of daily coffee purchases of everybody on all Bitcoin nodes in the network.
– JBaczuk
yesterday
2
Well - there is a security sacrifice to be 100% fair. There is no insurance against failing to respond to a cheating counter-party in payment channels. The required vigilance is an additional risk that a confirmed transaction does not have.
– James C.
yesterday
Can you explain in more detail? Also, even a confirmed transaction still has the small risk of a reorg. There are even users who choose to accept transactions before they have one confirmation (cringe).
– JBaczuk
yesterday
3
That is true. A user can choose how much security he requires from a confirmed transaction before accepting it. Yet a commitment tx, even though it is valid, has not even been confirmed, which is why I mean it has less security. So a lightning payment (a new commitment tx) cannot have the same security as a confirmed tx with a confirmation depth. The entire payment channel capacity amount is in fact still “pending” confirmation.
– James C.
yesterday
1
Right, thanks. It's important that it remain easy to broadcast the state of the channel at any time.
– JBaczuk
yesterday
|
show 1 more comment
up vote
10
down vote
up vote
10
down vote
Generally speaking, a larger block leads to more computational resources (tx validation, bandwidth, storage, memory) required for each person who wishes to validate newly confirmed transactions.
Higher validation cost lead end-users to rely on/trust
centralised services to "validate" their transactions.Larger blocks require more time to propagate in the network,
increasing pooling pressures for more centralized mining-pools.
The lower the validation cost, the more we can push validation to the edge (end-user) of the network, the more decentralisation we can achieve. Decentralisation is ultimately the source of security, as it is harder for an external force to attack.
New contributor
Generally speaking, a larger block leads to more computational resources (tx validation, bandwidth, storage, memory) required for each person who wishes to validate newly confirmed transactions.
Higher validation cost lead end-users to rely on/trust
centralised services to "validate" their transactions.Larger blocks require more time to propagate in the network,
increasing pooling pressures for more centralized mining-pools.
The lower the validation cost, the more we can push validation to the edge (end-user) of the network, the more decentralisation we can achieve. Decentralisation is ultimately the source of security, as it is harder for an external force to attack.
New contributor
edited yesterday
New contributor
answered yesterday
James C.
52110
52110
New contributor
New contributor
Also, off-chain transactions can be made for much cheaper without sacrificing security. No need to store the history of daily coffee purchases of everybody on all Bitcoin nodes in the network.
– JBaczuk
yesterday
2
Well - there is a security sacrifice to be 100% fair. There is no insurance against failing to respond to a cheating counter-party in payment channels. The required vigilance is an additional risk that a confirmed transaction does not have.
– James C.
yesterday
Can you explain in more detail? Also, even a confirmed transaction still has the small risk of a reorg. There are even users who choose to accept transactions before they have one confirmation (cringe).
– JBaczuk
yesterday
3
That is true. A user can choose how much security he requires from a confirmed transaction before accepting it. Yet a commitment tx, even though it is valid, has not even been confirmed, which is why I mean it has less security. So a lightning payment (a new commitment tx) cannot have the same security as a confirmed tx with a confirmation depth. The entire payment channel capacity amount is in fact still “pending” confirmation.
– James C.
yesterday
1
Right, thanks. It's important that it remain easy to broadcast the state of the channel at any time.
– JBaczuk
yesterday
|
show 1 more comment
Also, off-chain transactions can be made for much cheaper without sacrificing security. No need to store the history of daily coffee purchases of everybody on all Bitcoin nodes in the network.
– JBaczuk
yesterday
2
Well - there is a security sacrifice to be 100% fair. There is no insurance against failing to respond to a cheating counter-party in payment channels. The required vigilance is an additional risk that a confirmed transaction does not have.
– James C.
yesterday
Can you explain in more detail? Also, even a confirmed transaction still has the small risk of a reorg. There are even users who choose to accept transactions before they have one confirmation (cringe).
– JBaczuk
yesterday
3
That is true. A user can choose how much security he requires from a confirmed transaction before accepting it. Yet a commitment tx, even though it is valid, has not even been confirmed, which is why I mean it has less security. So a lightning payment (a new commitment tx) cannot have the same security as a confirmed tx with a confirmation depth. The entire payment channel capacity amount is in fact still “pending” confirmation.
– James C.
yesterday
1
Right, thanks. It's important that it remain easy to broadcast the state of the channel at any time.
– JBaczuk
yesterday
Also, off-chain transactions can be made for much cheaper without sacrificing security. No need to store the history of daily coffee purchases of everybody on all Bitcoin nodes in the network.
– JBaczuk
yesterday
Also, off-chain transactions can be made for much cheaper without sacrificing security. No need to store the history of daily coffee purchases of everybody on all Bitcoin nodes in the network.
– JBaczuk
yesterday
2
2
Well - there is a security sacrifice to be 100% fair. There is no insurance against failing to respond to a cheating counter-party in payment channels. The required vigilance is an additional risk that a confirmed transaction does not have.
– James C.
yesterday
Well - there is a security sacrifice to be 100% fair. There is no insurance against failing to respond to a cheating counter-party in payment channels. The required vigilance is an additional risk that a confirmed transaction does not have.
– James C.
yesterday
Can you explain in more detail? Also, even a confirmed transaction still has the small risk of a reorg. There are even users who choose to accept transactions before they have one confirmation (cringe).
– JBaczuk
yesterday
Can you explain in more detail? Also, even a confirmed transaction still has the small risk of a reorg. There are even users who choose to accept transactions before they have one confirmation (cringe).
– JBaczuk
yesterday
3
3
That is true. A user can choose how much security he requires from a confirmed transaction before accepting it. Yet a commitment tx, even though it is valid, has not even been confirmed, which is why I mean it has less security. So a lightning payment (a new commitment tx) cannot have the same security as a confirmed tx with a confirmation depth. The entire payment channel capacity amount is in fact still “pending” confirmation.
– James C.
yesterday
That is true. A user can choose how much security he requires from a confirmed transaction before accepting it. Yet a commitment tx, even though it is valid, has not even been confirmed, which is why I mean it has less security. So a lightning payment (a new commitment tx) cannot have the same security as a confirmed tx with a confirmation depth. The entire payment channel capacity amount is in fact still “pending” confirmation.
– James C.
yesterday
1
1
Right, thanks. It's important that it remain easy to broadcast the state of the channel at any time.
– JBaczuk
yesterday
Right, thanks. It's important that it remain easy to broadcast the state of the channel at any time.
– JBaczuk
yesterday
|
show 1 more comment
CipherLee is a new contributor. Be nice, and check out our Code of Conduct.
CipherLee is a new contributor. Be nice, and check out our Code of Conduct.
CipherLee is a new contributor. Be nice, and check out our Code of Conduct.
CipherLee is a new contributor. Be nice, and check out our Code of Conduct.
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