Greg Maxwell: Lightning Network Better Than Sidechains for Scaling Bitcoin
Over the past year or two, the main topic of conversation in the Bitcoin community has been how the system is going to eventually scale to millions or billions of users. Two concepts often brought up during these sorts of discussions are the Lightning Network and sidechains. Blockstream is in a unique position when it comes to these Bitcoin improvements,....
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The Bitcoin world never shies away from a good conversation, although some of the discussions may turn out quite differently from what people originally anticipated. Bitcoin Core developer Gregory Maxwell recently engaged in quite an interesting debate about the Lightning Network, and whether or not it will be decentralized, or how transactions will be....
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Mt. Gox Official Statement. Mt. Gox have just released their official statement regarding their recent decision to halt all Bitcoin withdrawals. Essentially, they are claiming they can't release customers' funds until a known bug in the Bitcoin protocol is resolved. The market is reacting very negatively to the Gox announcement, falling ~$160 on high volume since the news. Greg Maxwell Responds. I spoke with Bitcoin core developer, Greg Maxwell, about this highly technical issue. Greg Maxwell and Peter Wuille are the core developers in consultation with Mt. Gox, as per their press release.....
Core developer Greg Maxwell has deflated hopes of imminent SegWit activation, saying any redeployment “can’t happen” until the current one expires. Responding to an alleged agreement led by Barry Silbert at the Consensus conference to activate SegWit by September, Maxwell explained this was due to technical reasons of “simplicity and safety.” “So in 0.13.1+ almost all of SegWit is already active, including all the P2P components... the new network service flag, the witness-tx and block messages, compact blocks v2, etc. A redeployment of SegWit will need to redefine all these things,” he....
The Lightning Network is a design improvement for Bitcoin that could allow users to make micropayments in a decentralized manner and help the entire network scale more efficiently over time. While this proposal has received a large amount of attention in the Bitcoin community, there is another, similar option currently in development by C. J. Plooy. Plooy recently gave a presentation on his alternative implementation, Amiko Pay, at Scaling Bitcoin Montreal. During his talk, Plooy noted:"If you look at the basic design of the Lightning Network -- a network of payment channels. This is....
Greg Maxwell is a target of a recent online Bitcoin community controversy that originates in an alleged connection between Theymos and a Blockstream employee. Two of the Bitcoin community’s largest forums, including Reddit Bitcoin and Bitcointalk are operated by Theymos, who despite many criticisms, have maintained the success of both online communities. A few years ago, Theymos decided to develop innovative forum software to continue the surging growth of Bitcointalk and Reddit Bitcoin. The software is called Epochtalk, and it is still being actively developed by Theymos and his....