Author: Bob McElrath 2015-10-14 20:52:35
Published on: 2015-10-14T20:52:35+00:00
Bitcoin-NG has released a whitepaper describing its new technique for addressing some of the scalability challenges faced by Bitcoin. They claim that Bitcoin-NG can simultaneously increase throughput while reducing latency, and do so without impacting Bitcoin's open architecture or changing its trust model. According to Emin Gün Sirer via bitcoin-dev, fitting NG on top of the current Bitcoin blockchain is future work that they think is quite possible. The core technique of Bitcoin-NG is illustrated here and the complete technical details can be found in this whitepaper. The team behind Bitcoin-NG sees it as being complementary to both Bitcoin as is, as well as Blockstream-like sidechains, and not planning to compete commercially with either technology. It is aimed at advancing the state of blockchains and to help them reach throughputs and latencies required of cutting edge fintech applications. However, Bob McElrath has suggested shutting down the network by DDoSing the current leader.
Updated on: 2023-06-11T00:14:21.287042+00:00