Bitcoin Developers Pen Open Letter on Network Scalability
More than 30 Bitcoin Core developers and contributors have signed an open letter to the bitcoin community about the process of reaching a technical consensus for bitcoin scalability. Signatories on the list include current Bitcoin Core maintainer Wladimir van der Laan, Blockstream co-founder Pieter Wuille, tree chains developer Peter Todd and litecoin creator Charlie Lee, though former Bitcoin Core maintainer Gavin Andresen and bitcoinJ developer Mike Hearn are notably absent. The letter follows weeks of heated debate regarding whether the network should be augmented to allow for more....
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Editor's Note: This is a letter to the community written and signed by many of the Bitcoin developers, including the most prolific contributors to (at least) three separate implementations of the Bitcoin system. Signers of this letter represent about 90% of the commits in the last year or two to Bitcoin Core, according to Greg Maxwell. As active contributors to Bitcoin, we share this letter to communicate our plan of action related to technical consensus and Bitcoin scalability. Bitcoin is many things to many people. However, the development and maintenance of Bitcoin is a human endeavor.....
A recent letter published to the Bitcoin developers mailing list written by Square founder Jack Dorsey indicates that a legal defense fund has been created for open source developers in order to protect them “from lawsuits regarding their activities in the Bitcoin ecosystem.” Dorsey’s letter is also signed by Alex Morcos of Chaincode Labs and Martin White, the co-founder of Hudson River Trading.
Jack Dorsey’s Open Letter to the Bitcoin Developers Mailing List Reveals Bitcoin Legal Defense Fund
According to an open letter from Jack Dorsey, Alex Morcos,....
Lightning Network is a proposal for an off-blockchain network that would support super-fast transactions and boost Bitcoin scalability. Wednesday, miner hosting company HashPlex unveiled an alpha Lightning Network hub implementation, as developers continue to refine the layer (sometimes called layer-2) on testnets. The python Lightning implementation works with the open source Bitcoin node. Integration tests on a local network, which include three Bitcoin nodes, show that users can open a channel, close a channel, unilaterally close a channel, and send and receive money. The three nodes....
Scalability is a significant aspect of every blockchain-based solution. Several blockchain networks today, including the popular Ethereum and Binance Smart Chain, struggle with scalability issues. However, Jax.Network has established sharding as the absolute solution to this age-old problem. Using precise sharding technology allows the Jax.Network blockchain to scale the network as the demand for transactions […]
The block size debate has been going on for quite some time now, prompting developers Andresen and Hearn to create a new version of the bitcoin software and force the network to a hard fork. The hope is that the system can make the decision itself based on consensus, which is typically how the network functions anyway. However, developers suggest another option, which is to scale bitcoin. Sidechains have also been discussed as a potential workaround to the issue of increasing the block size from 1MB to 8MB, possibly allowing the network to handle more transactions and verify those in a....