EB95 – Adam Back: Why Bitcoin Needs A Measured Approach To Scaling


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As the debate about forks, the blocksize and decision making in Bitcoin continues, we are joined by Adam Back. Adam is best known for his invention hash-cash which became one of the fundamental building blocks of Bitcoin. He is also the inventor of the sidechains concept and founder and president of Blockstream, the single biggest employer of Bitcoin core developers.

With Adam we talked about the different blocksize proposals and how a decentralized cryptocurrency should be governed in general. He is an influential conservative voice in the current debate and has been warning that a rapid increase of the blocksize could undermine the decentralization of Bitcoin.

Topics covered included:

– Adam’s concerns with Bitcoin XT and the approach by Gavin Andresen and Mike Hearn
– Why Adam favors a slower blocksize increase to preserve decentralization
– How Bitcoin will function as a settlement network in the medium-term with the bulk of transactions going through the Lightning Network or sidechains
– Why forks are in Bitcoin are different from forks in other open source projects
– The upcoming Scaling Bitcoin workshop in Montreal

Links mentioned in this episode:

– Scaling Bitcoin Montreal Event http://bit.ly/1Qk6Qt2
– Blockstream http://bit.ly/1KAn8zf
– Gavin Andresen’s BIP 101 http://bit.ly/1WZZlw5
– Jeff Garzik’s BIP 100 http://bit.ly/1iakV0M
– Adam Back’s blocksize proposal http://bit.ly/1K18XwC
– List of different blocksize proposals http://bit.ly/1LTs4fI

Sponsors:

– Vaultoro: Trade gold to Bitcoin instantly and securely starting at just 1mg at http://vaultoro.com

Show notes: http://epicenterbitcoin.com/podcast/095
SoundCloud: http://soundcloud.com/epicenterbitcoin/eb-095

Epicenter Bitcoin is hosted by Brian Fabian Crain & Sébastien Couture.

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