Author: Mark Friedenbach 2015-08-11 19:00:46
Published on: 2015-08-11T19:00:46+00:00
The scalability of Bitcoin has been a topic of debate. Some argue that the ability to process more transactions is crucial for the growth and success of Bitcoin. However, others believe that it is important to maintain Bitcoin's decentralized nature and policy neutrality.The Lightning network is one solution that could enable rapid exchange of funds between parties with micropayment channels. This higher-layer protocol could potentially support millions of users and improve scalability. Additionally, there are new and innovative applications of existing or future script being explored that could further improve scale.It is important to make a decision that does not destroy Bitcoin's policy neutrality and allow for censorship or denial of service. Bitcoin needs to be able to survive active censorship and remain location independent in order to be successful.The discussion on the bitcoin-dev mailing list revolves around the potential for larger blocks and the need for optimization in propagation time. While some argue for larger blocks, others suggest playing to Bitcoin's strengths of trustlessness via policy neutrality or exploring alternative options such as Stellar.There is a need for optimization in propagation time through the use of inverted bloom filters or other products that can improve distribution without relying solely on pingtime. Matt's relay network has already helped in this area, but there is still room for improvement.Overall, there is concern about the pressure to pursue larger blocks, which could lead to failure by their own metrics. The network has the potential to grow, but it requires wallet developers and other infrastructure personnel to step up and deploy this technology.
Updated on: 2023-06-10T18:32:36.918279+00:00