Author: Emin Gün Sirer 2015-10-14 18:02:15
Published on: 2015-10-14T18:02:15+00:00
Bitcoin-NG is a new technique aimed at addressing scalability challenges faced by Bitcoin. The technique can increase throughput while reducing latency without impacting Bitcoin's open architecture or changing its trust model. The core technique is illustrated in a post on hackingdistributed.com and all the nitty gritty details are available in the whitepaper posted on arxiv.org. Fitting NG on top of the current Bitcoin blockchain is future work that is quite possible. NG is compatible with both Bitcoin as is, as well as Blockstream-like sidechains. It is not planned to compete commercially with either technology. This is pure science, published and shared with the community to advance the state of blockchains and to help them reach throughputs and latencies required of cutting edge fintech applications. It is hoped that the technique can provide inspiration for someone else to come up with even better solutions. Feedback is welcome from the community.
Updated on: 2023-06-11T00:14:51.657722+00:00