Peter Todd: SPV Client Majority Could Lead to Miner Malfeasance
The Simplified Payment Verification protocol was envisioned by Satoshi Nakamoto in the Bitcoin white paper. He also mentioned it later on, saying that he figured the future would involve most people using such things. I anticipate there will never be more than 100K nodes, probably less. It will reach an equilibrium where it's not worth it for more nodes to join in. The rest will be lightweight clients, which could be millions. If you're not familiar with what an SPV client is, it's a Bitcoin wallet like Multibit, which only reads the block headers rather than downloading the entire....
Related News
Bitcoin Core contributor Peter Todd recently discussed a variety of topics on The Crypto Show. Todd was asked if he is still worried about the possibly negative implications of a controversial hard fork induced by Bitcoin Classic or any other alternative Bitcoin client. said he is still worried about a hard fork due to some larger block size limit supporters who seem willing to “fork Bitcoin at all costs.” When Todd was first asked how he felt about his hard fork worries, he brought up the fact that some parts of the Bitcoin community seem ready to fork the blockchain no matter what. He....
Developer Peter Todd has caused quite a stir in the community by committing a double spend on Coinbase. Taking $10 from the company and buying Jeremy Gardner of the Augur project some reddit gold. Todd admitted to the action via Twitter and GitHub with the crack he created. At this time, Gardner says he and Todd were conversing, and Todd had decided to “make a point about security in the industry” Gardner goes on to say that he had succeeded on his first try and was able also to snap a screenshot of the action. Many people in the community went crazy on Twitter following this announcement.....
What is the one thing we have noticed about most altcoins? The need for developers is a demanding and never ending. Fortunately, ViaCoin has been showing an incredible ability of hiring developers who are regarded very highly in the cryptocurrency community. ViaCoin recently hired Peter Todd, a bitcoin core developer, and creator TreeChains, and Stealth Addresses. Peter is quite an influence in the cryptocurrency world as he is an advisor at Coinkite as well. It should be mentioned that he used to work closely with MasterCoin, but has announced that he is no longer involved with that coin.....
Core developer Peter Todd is known for his forthright ideas on how to improve the security and stability of bitcoin, while staying true to the technology's decentralised roots. An avid Twitter user and conference regular, Todd has worked on everything from off-chain transactions and privacy-enhancing stealth addresses to '2.0' projects like Viacoin, Counterparty and coloured coins. In this video, he discusses his first experiences with bitcoin and precursor Hashcash and I ask how centralisation, regulation and scalability might shape bitcoin's future. View the full video interview below:....
Consultant and Bitcoin Core Developer Peter Todd has advocated changes to the cryptocurrency’s proof-of-work (PoW) algorithm as the scaling debate continues. As the prospect of a Bitcoin hard fork looms and associated “politicized” activity remains, Todd suggested “researching a PoW change” would be a “good backup plan.” With some miners threatening 51% attacks against Bitcoin, researching a PoW change is a good backup plan: https://t.co/SEZ1qlxhAH. — Peter Todd (@petertoddbtc) March 19, 2017. The ongoing infighting over how to resolve Bitcoin’s capacity woes now directly involves the....