Adam Back on 3 Forms of Centralization That Have Crept Into Bitcoin

September 14th, 2015

Awake Goy

Although raising the block-size limit would allow more transactions to be processed in each block, it could also limit the ability for individuals in some parts of the world to run a full node or participate in the mining process. This problem would arise due to the increased costs of processing a greater number of transactions every 10 minutes as a full node.

Blockstream co-founder and President Adam Back recently discussed the security vs. scalability debate on an episode of Epicenter Bitcoin, noting that increased centralization due to a raised block-size limit could be even more problematic when factoring in all of the other forms of centralization that already exist in the digital cash system:

“One of the challenges we’re facing right now with the block size is that decentralization is already under stress. There’s a certain amount of centralization that’s crept in — sort of boiling the frog.”

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