Will the Bitcoin Scalability Debate Ever End?
For almost two years, there appears to be little discussion in bitcoin’s two main public forums other than scalability, an ancient topic, in bitcoin terms, that has consumed our community at the expense of all else. There have been many metaphorical casualties, including high principles, such as the right to an open and free public debate in what used to be bitcoin’s main public space, but can bitcoin ever return to a united community? Should it split in two with the market holding a referendum? Can there be a grand compromise or will the question of scalability forever become part of....
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While many people take the view that Bitcoin is dying or failing due to its current issues with governance and scalability, Blockchain Capital founder and managing partner Brock Pierce believes this current controversy is a good sign. In his view, the fact that there are so many transactions on the network should be seen in a positive light because it’s a sign of the technology’s success. In a recent interview with Epicenter Bitcoin, Pierce explained his point of view on the Bitcoin block size debate and how it is currently causing uncertainty in the market. The key point that Pierce, who....
The new technology, Teechan can provide an easier scalability solution for the Bitcoin blockchain. The Bitcoin scalability debate has been going on for a while now. The developer community is divided between the hard fork and soft fork and both the approaches are being backed by some of the prominent names in the ecosystem. As the community struggles to reach a consensus, a new Bitcoin scalability solution in the form of Teechan has now entered the picture. Teechan is a creation of developers from Imperial College London and Cornell University, led by professor Emin Gun Sirer. Teechan....
For the past two years, the main topic of conversation in the Bitcoin community has been the scalability debate. While the peer-to-peer digital currency system processes more than 300,000 on-blockchain transactions per day and recently reached an $18 billion market cap for the first time, the path toward scaling this system to a global economy over the long-term is sometimes seen as unclear. After years of debate over Bitcoin’s effective transaction capacity limit, the plan for capacity increases that has gained the highest level of support from current Bitcoin Core contributors, bitcoin....
The debate about whether Bitcoin network is becoming increasingly centralized rages on. But if the community doesn't start focusing on scalability, it may not matter anymore. Bitcoin is an open source, decentralized, peer-to-peer cryptocurrency. That has been the standard definition of the popular digital currency. But many agree to disagree with it, leading to a never-ending debate on increasing centralization of Bitcoin network. There are those who believe that it is highly unlikely for the Bitcoin network to become centralized anytime soon. And then there many who think that the Chinese....