Author: Patrick Strateman 2015-12-08 21:29:13
Published on: 2015-12-08T21:29:13+00:00
Akiva Lichtner, a developer with twenty years of experience in the payment industry, proposed an idea for scaling Bitcoin by running more than one simultaneous chain, each defeating double spending on only part of the coin. The coin would be partitioned by radix (or modulus) and blocks would contain the number of the partition they belong to. Miners would have to round-robin through partitions so that an attacker would not have an unfair advantage working on just one partition. However, if partition is selected from a random key, then payment recipients would need to operate a full node on each of the chains. Payment recipients would need to operate a daemon for each chain, thus guaranteeing no scaling advantage. The number of chains could increase automatically over time based on the moving average of transaction volume.
Updated on: 2023-06-11T01:54:46.778258+00:00