Author: Jason Livesay 2015-09-14 01:46:57
Published on: 2015-09-14T01:46:57+00:00
After studying the issues, it has been recommended that a short-term modest blockchain increase should be made, somewhere between 2mb-5mb, before the winter shopping rush. However, due to fundamental technical limitations of scaling, a new system needs to be adopted for fast transactions which ultimately settles with traditional bitcoins. To maintain brand momentum, network and business investment, the smoothest path forward is to build a new additional system re-using the bitcoin name. This new system should come packaged with the bitcoin core client and be referred to as QuickBitcoin or qbtc, or something similar. This system will work on top of traditional bitcoins but have a mechanism for more/faster transactions. The exact mechanism doesn't have to be perfect, it just needs to be reasonably secure/useful and something that the community will accept. This is believed to be the best way to scale bitcoin while maintaining the strength of its existing network, community, and branding. As far as the public is concerned, this new system could simply continue to be called bitcoin.
Updated on: 2023-06-10T22:26:04.123989+00:00