James O'Beirne, developer of Bitcoin corerecently issued a serious warning about the future of the world's leading cryptocurrency. During a look on the podcast *supply shock *, O'Beirne expressed deep concerns about the erosion of Bitcoin security budgetemphasizes how this phenomenon can compromise this main RIGHTS INCLUDING that the network is always guaranteed.
According to O'Beirne, the problem is urgent and requires immediate attention. The progressive refusal of the network security revenue, in fact, may push Bitcoin in charge to make massive decisions, changing some of the principles of establishment.
The security budget: a pillar at risk
During the interview, O'Beirne explained that the Bitcoin security budget was primarily based on Reward for miners and On-chain transaction fees. However, as time goes by and the next divide Events approach – events that stop rewarding for mine blocks – the risk of inadequate funds to maintain network security is becoming real.
O'Beirne emphasized that the lowering of the rewards, combined with Low fee and stationaryCan create a very difficult situation for miners. In this context, pressures may appear to introduce radical changes in the bitcoin protocol, thus compromising its original nature.
“` Html
Controversial changes: Tail releases and supply changes
“`
Among the possible solutions discussed, O'Beirne cited the introduction of the so -called Exit the tail – Continuing releasing new coins even after reaching the maximum limit of 21 million bitcoins – and changing cryptocurrency's Discharge program.
According to the developer, both of these options represent a direct threat to the rights of Bitcoin users. The idea of an infinite supply or an arbitrary change in the rules of discharge, in fact, will undermine the confident that millions of people put in that program -like lack of bitcoin, one of its unique features.
O'Beirne warned that, if these changes were adopted, Bitcoin was dangerous to lose its identity, changing something unique to what was originally conceived.
A narrow time window
The time to address this issue is limited. O'Beirne estimated that there was only Two divisions Before reducing rewards it becomes a critical problem for network security. This means that the debate on how to ensure the maintenance of bitcoin should start immediately, without further delay.
“This is an issue that people need to start to meet seriously,”
O'Beirne said, emphasizing the rush of the situation.
An alarm raised by other experts
O'Beirne's concerns are not isolated. It's already 2023, Nikita zhavoronkovThe leading developer of Block Explorer Blockchairhas raised similar issues. Zhavoronkov foretold that, in order to solve the security budget problem, one of the following solutions needs to be used:
- Scale bitcoin on-chainIncreasing the number of transactions and therefore the fees.
- Remove the limit of 21 million Btcallowing a continuous release of new coins.
- Change the agreed systemAbandon Proof-of-work In favor of more sustainable successors.
All these hypotheses, however, will involve a major change in Fondamenti di bitcoinwith unpredictable consequences of user trust and the amount of property.
The future of bitcoin: between loyalty to principles and security challenges
The discussion raised by James O'Beirne opens an important debate for the future of Bitcoin. On the one hand, keeping the basic principles – such as inadequacy and inability – is important to maintain the user's confidence. On the other hand, maintaining network security requires concrete and timely solutions.
The risk is, without a considered intervention, Bitcoin can find itself at a branch: sacrificing part of its identity to survive or dangerous to be vulnerable to external threats.
