Bitcoin faces a challenge between facilitating payments without trusted third parties and maintaining low verification costs. If verification costs increase, many may resort to trusting intermediaries. While transaction throughput is essential, Bitcoin's scalability also aims to preserve its censorship-resistant nature. Solutions for scalability must ensure that users do not depend on other parties for the security of their funds. Users should have control over their funds without requiring ongoing trust in external actors, which might involve keeping online or periodically checking in.
The Bitcoin system aims to facilitate payments without relying on trusted third parties, creating a tension between accessibility and verification costs.
Scaling Bitcoin involves more than transactions per second; it seeks to maintain its censorship-resistant characteristics without relying on trust.
Collection
[
|
...
]