What the actual fuck…
Discussion
I agree that the main chain will be for larger transactions. Need a second layer for payments and micro transactions
Why do you agree?
For the main chain to update every node, it consumes a lot of energy. There's no need to have that level of security for small transactions. It makes sense to use a second layer. The main chain will be expensive and therefore will be used where the utmost certainty and security is needed. I don't need the entire network to verify my zap or coffee purchase. I like the thesis put forward in the bitcoin standard. Makes a lot of sense to me. What are your thoughts?
Why less security for small amounts?
Why will the main chain be expensive?
Because it takes a large amount of electric and computing power to update all the notes. Power costs money.
Less security for smaller transactions is a way around that because I can take some risk when it's a vendor I trust or a smaller amount I'm not as concerned about.
So we should switch to pos because of power costs then?