Teechan Can Be the Potential Solution for Bitcoin Scalability
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....
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Scalability has been a central issue within the Bitcoin community for well over a year now. Amongst the most promising innovations being developed are bidirectional payment channels. These can be extended to the Lightning Network, allowing users to transact securely with minimal footprint on the blockchain. Performance of these solutions would be significantly improved by Segregated Witness, the protocol upgrade proposed by the Bitcoin Core development team. However, the Segregated Witness soft fork has not activated yet. Last week, four researchers from Imperial College London and Cornell....
The inventor of Ethereum, Vitalik Buterin, published an article discussing implementing a new scalability solution. According to a document posted on his blog, several benefits could come from introducing “Plasma,” a scalability solution invented 6 years ago, in the early years of ETH. Related Reading: ‘Ripple Is The Internet Of Value’ Ethereum Founder Vitalik Buterin […]
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 […]
Being the next step in the evolution of human civilization, blockchain technology still hasn’t been mass-adopted. The biggest obstacle here is a limited transaction processing capacity. Existing blockchains like Bitcoin and Ethereum are only able to do about 7-10 transactions per second. This technological limitation has been called the blockchain scalability trilemma. If it is solved, blockchain technology can facilitate the creation of a decentralized global currency that can be mass adopted and the implementation of decentralized governance systems, immutable data storage systems,....
According to a press release, internet browser Opera integrated with Ethereum layer 2 exchange DeversiFi and their scaling solution powered by Starkware. Users will be able to leverage cost-efficient and instant transactions via Opera’s mobile browser wallet. Related Reading | Ethereum Scalability Solution zkSync Deploys Tesnet, Cheap Network Fees Imminent? In that way, they will […]