Author: Ittay 2015-10-14 18:38:35
Published on: 2015-10-14T18:38:35+00:00
In an email exchange on October 14th, 2015, Bob McElrath suggests that shutting down Bitcoin-NG could be as simple as figuring out who the current leader is and DDoS-ing them off of the network. However, Ittay responds that this type of attack would be difficult to pull off since miners often run multiple well-connected nodes. Meanwhile, Emin Gün Sirer via bitcoin-dev announces the release of a whitepaper describing Bitcoin-NG as a new technique for addressing scalability challenges faced by Bitcoin. According to the whitepaper, Bitcoin-NG can increase throughput while reducing latency without impacting Bitcoin's open architecture or changing its trust model. The post illustrates the core technique while the whitepaper provides more details. Additionally, NG is compatible with both Bitcoin as is and Blockstream-like sidechains, and there are no plans to compete commercially with either technology. The hope is that NG will help blockchain technology reach throughputs and latencies required of cutting-edge fintech applications. Feedback is welcomed.
Updated on: 2023-06-11T00:14:07.008456+00:00