30 Jul '17, 11am

Could SPV Support a Billion Bitcoin Users? Sizing up a Scaling Claim

Could SPV Support a Billion Bitcoin Users? Sizing up a Scaling Claim

SPV clients trust miners to correctly validate and enforce the rules of bitcoin; they assume that the blockchain with the greatest cumulative proof-of-work is also a valid chain. You can learn about the difference between SPV and full node security models in this article . SPV clients assume that full nodes will not lie to them by omission. A full node can't lie and say that a transaction existed in a block when it didn't actually exist, but it can lie by saying that a transaction that does exist in a block did not happen. Because SPV clients strive for efficiency, they only request data for transactions belonging to them. This results in a massive loss of privacy.

Full article: https://www.coindesk.com/spv-support-billion-bitcoin-user...

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