Author: Karl Kreder 2018-10-31 23:08:17
Published on: 2018-10-31T23:08:17+00:00
Karl Kreder, the CSO and VP of Hardware Engineering at GridPlus Inc., has proposed a new Bitcoin Improvement Proposal (BIP) called BlockReduce. This proposal presents a new blockchain topology that could potentially increase transaction throughput by 3+ orders of magnitude while avoiding the introduction of hierarchical power structures and centralization. The proposed solution modifies the block reward incentive to reward optimization of network constraints and efficient propagation of transactions. BlockReduce introduces a Proof-of-Work (PoW) managed hierarchy of tightly-coupled, merge-mined blockchains. The BlockReduce proposal is highly compatible with the Bitcoin codebase as it only requires a sharding of state and the introduction of a 268 byte header that allows for 3 levels of merge-mining. A detailed paper outlining the BlockReduce proposal can be found at https://s3-us-west-2.amazonaws.com/gridplus/BlockReduce+(9).pdf. Kreder has requested feedback and comments on the BlockReduce proposal and also inquired about the process for getting a BIP listed on Github.
Updated on: 2023-06-13T15:10:49.391501+00:00