MultiversX Tracker is Live!

Do nodes really hold power?

Bitcoin Reddit

More / Bitcoin Reddit 222 Views

I understand why ...

... developers hold power. When they change the client, a large number of users will run the software with the new rules. And would have a hard time switching.

... miners hold power. When they refuse to mine certain transactions, those will be delayed or even prevented.

... exchanges hold power. In the case of a fork, the chain that Coinbase calls "Bitcoin" would gain credibility. And their users might have a hard time to support the other chain.

... hodlers hold power. If they say "I demand $XXXXX for a coin on chain A and $XXX for a coin on chain B", that gives chain A more value than chain B.

... buyers hold power. If they say "I pay $XXXXX for a coin on chain A and $XXX for a coin on chain B", that gives chain A more value than chain B.

But how do node operators hold power? How can they influence the outcome in case of a split or when miners refuse to mine certain transactions?


Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments