Author: Akiva Lichtner 2015-12-08 21:23:12
Published on: 2015-12-08T21:23:12+00:00
Akiva Lichtner, a developer with 20 years of experience in the payment industry, has proposed an idea for scaling Bitcoin. His proposal involves running more than one simultaneous chain to defeat double spending on only part of the coin. The coin would be partitioned by radix or modulus, with ten parallel chains that each work on coins ending in a specific number from 0-9. The number of chains could increase automatically over time based on the moving average of transaction volume. Blocks would have to contain the number of the partition they belong to, and miners would round-robin through partitions so that an attacker would not have an unfair advantage working on just one partition. While there would be little impact to miners, clients would have to send more than one message to spend money. Payment recipients would need to operate a daemon for each chain. However, Patrick Strateman responded that this partitioning would guarantee no scaling advantage, which he believes to be a showstopper for the idea.
Updated on: 2023-06-11T01:56:10.692831+00:00