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Ignat

@berightback

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What didn’t work in the Bitcoin whitepaper? Mistakes and oversights from Satoshi Nakamoto, 15 years later ⬇ 1/ 📄 In 2008, Satoshi Nakamoto published the Bitcoin whitepaper, promising a decentralized financial system without intermediaries. But in 2025, reality shows that not everything went as planned. 2/ ⚙️ Scalability The whitepaper barely addressed scalability. Today, the network handles about 7 transactions per second — far too few for global use. During peak times, fees skyrocket and confirmations take a long time. 3/ 🖥️ Mining decentralization Satoshi envisioned a “one CPU, one vote” system. But with the rise of ASICs and mining pools, most of the hash power is now concentrated in the hands of a few players. 4/ ⚡ Energy consumption Bitcoin consumes as much energy as entire countries like the Netherlands. This raises environmental concerns and fuels public criticism.
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A little summary of the new Vitalik thoughts: This article outlines the potential risks of centralization within the Ethereum protocol, particularly with regard to its proof-of-stake system, and explores various solutions to mitigate these risks. The text examines the issues of block construction centralization stemming from economies of scale within MEV extraction and staking economics centralization arising from the growing percentage of staked ETH. To address these challenges, the article discusses multiple potential solutions including inclusion lists, encrypted mempools, two-tiered staking models, and MEV capture mechanisms, while highlighting the trade-offs and complexities associated with each approach. The article emphasizes the importance of decentralized block building marketplaces, specialized staking hardware, and application-layer solutions in creating a more robust and decentralized Ethereum ecosystem.
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