Opinion: Dr. Michael Tabone, senior economist for CointeLgraph

Bitcoin (BTC) has long been hailed as indestructible and untouchable, a digital fortress against the forces of change. Bitcoin safety substrates are directed to the first real test with quantum calculations, which should be solved sooner than later. His cryptographic armor will break if it is not solved by forcing the network to adapt or die.

The number of bitcoin nodes is growing, but the incentives are still absent

Over time, the full bitcoin node network has grown, which is a sign of growing adoption and more solid infrastructure, but the basic problem remains. The voluntary node lead act still has no financial incentive. Miners win prizes for network securing, but the nodes operators do not receive anything for their role in maintaining the decentralization of bitcoins.

At the same time, a significant part of these nodes is carried out by exchanges, carers and enormous mining pools. These are centralized entities with financial incentives to maintain control. Suppose the bitcoin node network is still developing without adequate incentives. In this case, there is a risk that validation will be more and more dependent on several well -financed players, and not from a truly dispersed base of individual users (see Figure 1).

All this comes because the launch of the bitcoin node has never been easier. Plug-and-play solutions, such as Umbrel, Start9, Raspiblitz, Cubit and Ronin Dojo, allow everyone to configure the full knot for inexpensive equipment with minimal technical knowledge. These tools reduced the entry barrier, thanks to which the node operation is more available than ever before.

However, adoption remains in stagnation. Despite the ease of configuration, most Bitcoin users still do not start their own nodes. The reason is basic: there is no financial incentive for this.

Last: DEkentralization is threatened – we can fix it

Unlike miners who earn block subsidies and fees for transactions for network security, full nodes operators receive nothing. They verify transactions, enforce the principles of consensus and contribute to Bitcoin decentralization, but their efforts are unable. As a result, node surgery remains an ideological commitment, not economically profitable.

If bitcoins must be forged, we must apply it to strengthen decentralization

Critics of the proposal say that Bitcoin’s monetary policy should remain untouched. Others warn that the introduction of full nodes can lead to Sybil attacks, in which bad actors turn thousands of false nodes to apply prizes. These fears are significant – but they ignore greater reality.

Bitcoin is on the way to a forced change in consensus. An truthful debate is not whether Bitcoin should change, but whether we will apply this moment to strengthen it. If the full incentives for bitcoin nodes are implemented correctly, they can enhance the number of nodes, strengthening the resistance to network censorship and strengthening its decentralization. This would reduce dependence on enormous mining stalls and exchange for validation, more evenly distributing control among individual participants. Bitcoiners will still have to press that Bitcoin resistant to corporate influence in the post-quantity world, in which security and decentralization will be more significant than ever in the coming years.

Poorly designed incentives can introduce a risk, especially Sybil attacks, in which bad actors turn thousands of false nodes to apply prizes. These challenges can be resolved using the appropriate mechanisms of resistance Sybil. Ignoring them would be much more risky than addressing them.

The future of Bitcoin depends on this moment

Bitcoin’s greatest strength is his ability to remain decentralized and resistant to censorship. But this force is not automatic; Requires infrastructure that encourages wide participation.

Fork resistant to a quantum, challenging fork will be an event once in generation. We may not get another chance if we do not apply it to repair the broken Bitcoin motivational structure. The future of Bitcoin depends on this moment.

This conversation should continue, but you should have some skin in the game and first start the knot yourself.

Opinion: Dr. Michael Tabone, senior economist Cointelegraph.

This article is used for general information purposes and should not be and should not be treated as legal or investment advice. The views, thoughts and opinions expressed here are themselves and do not necessarily reflect or represent the views and opinions of Cointelegraph.