Author: Cserveny Tamas 2017-09-01 18:15:53
Published on: 2017-09-01T18:15:53+00:00
The discussion revolves around the issue of scaling in the Bitcoin network. The current system is described as a single-threaded computation, where if one block is found, other blocks become worthless. The only way to scale with increasing traffic is by increasing the block size or reducing complexity, which is less secure. Splitting the chain is an option that effectively increases the block size without the increased hashing and validation overhead. The exponential growth of usage requires larger block sizes, but waiting times and fees would grow rapidly. By splitting the ledger, the block size can remain 1-2 mb for a long time, only new partitions need to be added on a schedule. This would also make better use of the hashing capacity. The benefits of this approach are compared to IOTA's system, but more specific details are needed to judge its effectiveness.
Updated on: 2023-06-12T17:57:10.888114+00:00