Can bitcoin protocol be changed to add economic incentives to validating nodes?
However, as we know that things are driven more by market economics rather than philanthropic or feel good factors.
Running a bitcoin node is more than just helping the network. One recent tweet summarizes it in the best way possible, running a node is nothing but downloading the bitcoin implementation software, install and run like lot of other software:
Pruned nodes can be used if space is concern. Lot of bitcoin projects have made it easier to use the full node you run with just few clicks, some changes in config etc. Example: Umbrel
Main benefits of Bitcoin full node:
- Enforce consensus rules
Other ways of using Bitcoin involve different trust assumptions. Neutrino nodes are helpful for many lightning projects.
Is there a way to change bitcoin protocol to achieve something like this?
The process to change anything in Bitcoin protocol:
Create BIP and share with others. Discuss everything involved.
Get consensus on activation mechanism.
Miners signaling followed by activation.
Miners can follow the new consensus rules else their blocks will be rejected by full nodes. Economic nodes play an important role.