Author: Loi Luu 2015-12-09 06:30:24
Published on: 2015-12-09T06:30:24+00:00
Loi Luu, one of the authors of the SCP protocol, has sent a response to Akiva Lichtner's idea for scaling Bitcoin. Luu explains that before SCP, they had been considering how to shard efficiently while maintaining security guarantees. Luu questions the validity of Lichtner's proposal and highlights the problems with other proposals which require increasing amounts of data broadcasted to the network. SCP solves the issue of localizing bandwidth used but requires recipients to verify transactions themselves in exchange for potential scalability. Lichtner's proposal involves running multiple chains that defeat double spending on only part of the coin, with each chain partitioned by radix. For example, ten parallel chains would work on coins ending in different digits from 0 to 9. The number of chains could increase based on transaction volume. Blocks would have to contain the partition number, and miners would round-robin through partitions to avoid an attacker having an advantage. Client messages would need to enumerate coin using compression, and software could handle the details.
Updated on: 2023-06-11T01:56:43.920613+00:00