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Monday, 24 August 2020

Can we discuss which full nodes matter? Some say it is only the full nodes of miners

Is it only the full nodes of miners that matter? That is a popular opinion in this forum. But the discussions about the fork seems to show that people don’t actually think that is the case.

There was a big deal made of other systems that uses full nodes. Exchanges, merchant software and wallet software.

If these systems pick a node with a set of consensus rules it will affect. The consensus rules that the exchanges pick determing which fork gets to keep the ticker name and continues to be traded on the exchange. The consensus rules that the wallets pick determines which ticker you can use to buy things. And finally the consensus rules that the merchant software picks determines which coin the merchants will accept.

These are 3 very strong votes on which chain becomes the majority chain.

And what they do will affect the miners choice because the miners will follow the price.

It is a complex process because these systems are all dependent.

submitted by /u/N0tMyRealAcct
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from Bitcoin - The Internet of Money https://ift.tt/32mB8sz

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