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Bitcoin Full Node: The Key to Network Security and Decentralization
The Importance of Bitcoin Network Fees and Full Nodes
In this discussion, two Bitcoin researchers delved into the complexities of Bitcoin network fees and the importance of running a Full Node.
First, they corrected the misunderstanding of referring to Bitcoin transaction fees as "Gas fees". Bitcoin's transaction fees are calculated based on the size of the transaction, rather than based on the computational load like Ethereum.
Regarding the recent network congestion caused by BRC20 tokens, the discussion focused on the significant growth of the UTXO set. The expansion of the UTXO set increases the hard disk read and write overhead of nodes, affecting network performance. In contrast, issues such as increasing the block size to 4MB were actually foreseen long ago.
The significance of running a Full Node emphasizes several points:
Full Node can independently verify transactions, protecting user privacy and the security of funds.
Full Node network maintains the censorship resistance and decentralization characteristics of Bitcoin.
Full Nodes can play a proactive role in network upgrades, as illustrated by the BIP 148 case.
Full Nodes help to maintain a low barrier to entry for mining.
Although running a Full Node usually does not have direct economic benefits, it is crucial for maintaining the health of the network.
Finally, the discussion points out that the fundamental philosophy of Bitcoin is to limit any centralized power in order to protect individual freedom. This distinguishes it from some cryptocurrency projects that uphold power.