Published on: 2015-12-10T04:31:42+00:00
Akiva Lichtner, a developer with 20 years of experience in the payment industry, has proposed an idea for scaling Bitcoin. The proposal involves running multiple simultaneous chains, with each chain 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 round-robin through partitions to prevent any unfair advantage for attackers.The number of chains could increase automatically based on transaction volume. Payment recipients would need to operate a daemon for each chain, ensuring no scaling advantage. However, some believe this partitioning could be a showstopper for the idea. Akiva also discusses the potential for sharding coins and acknowledges that his proposal is not exactly scaling Bitcoin's present requirements, but rather relaxing the requirements in a way that satisfies both users and miners.In response to Akiva's proposal, Loi Luu questions the efficiency of this approach and suggests their SCP (Simple Coin-Pair) protocol as an alternative. Luu believes that sharding should localize the bandwidth used and only broadcast minimal data. However, Akiva Lichtner responds by stating that since partitions are completely segregated, there is no need for a node to work on multiple partitions simultaneously. He argues that as long as a node can work on multiple partitions in turn, attacks can still be defeated.Overall, Akiva Lichtner's proposal suggests running more than one simultaneous chain in order to scale Bitcoin. Each chain would tackle double spending on only part of the coin, with the coin being partitioned by radix or modulus. The number of chains could automatically increase based on transaction volume. However, Loi Luu questions the efficiency of this approach and suggests their SCP protocol as an alternative. Despite the differing opinions, the discussion highlights the ongoing efforts to address scalability issues in Bitcoin and the importance of considering trade-offs between decentralization and efficiency.The email exchange also touches on the concept of offloading work to clients and the linearized coin history idea. Overall, Akiva seeks expert feedback on his idea and shares a humorous anagram for Satoshi Nakamoto.
Updated on: 2023-08-01T17:05:55.811394+00:00