From 76d46baee7ad0226f27d72a42baed9a6154eed69 Mon Sep 17 00:00:00 2001 From: keblek <68111648+keblek@users.noreply.github.com> Date: Fri, 10 Jul 2020 14:19:29 +0200 Subject: [PATCH] Update ch1 - minor phrasing This is a minor edit that to my ear did not sound correct --- 01_introduction.asciidoc | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/01_introduction.asciidoc b/01_introduction.asciidoc index e43c715..4ef3347 100644 --- a/01_introduction.asciidoc +++ b/01_introduction.asciidoc @@ -12,7 +12,7 @@ While the bulk of this book is written for programmers, the first two chapters a === Motivation for the Lightning Network -As Bitcoin and the demand for transactions grows, the number of transactions in each block will increase until eventually hitting the block size limit. When blocks are full, excess transactions are left to wait in a queue. Many users increase the fees they're willing to pay in order to buy space for their transaction in the next block. At the same time, an increasing number of users are left behind. Their transactions, e.g. microtransactions such as common small spendings, are not economically qualified to be on the network. However, increasing block size simply shifts the problem to node operators, where each increase in blocksize results in a resource increase multiplied by an order of magnitude. +As Bitcoin and the demand for transactions grows, the number of transactions in each block will increase until it eventually hits the block size limit. When blocks are full, excess transactions are left to wait in a queue. Many users increase the fees they're willing to pay in order to buy space for their transaction in the next block. At the same time, an increasing number of users are left behind. Their transactions, e.g. microtransactions such as common small spendings, are not economically qualified to be on the network. However, increasing block size simply shifts the problem to node operators, where each increase in blocksize results in a resource increase multiplied by an order of magnitude. Because blockchains are gossip protocols, each node is required to know and validate every single transaction that occurs on the network. Furthermore, once validated, each transaction and block must be propagated to the node's "neighbors", multiplying the bandwidth requirements. As such, the greater the block size, the greater the bandwidth, processing, and storage requirements for each individual node, effectively limiting the amount of scaling that can be done this way. Furthermore, scaling in this fashion has an undesirable side effect of centralizing the network by reducing the number of nodes and node operators. Since node operators are not compensated for running nodes, if nodes are very expensive to run, only a few well funded node operators will continue to run nodes.