Bitcoin PoW Change “Good Backup Plan”: Peter Todd On Scaling
Consultant and Bitcoin Core Developer Peter Todd has advocated changes to the cryptocurrency’s proof-of-work (PoW) algorithm as the scaling debate continues. As the prospect of a Bitcoin hard fork looms and associated “politicized” activity remains, Todd suggested “researching a PoW change” would be a “good backup plan.” With some miners threatening 51% attacks against Bitcoin, researching a PoW change is a good backup plan: https://t.co/SEZ1qlxhAH. — Peter Todd (@petertoddbtc) March 19, 2017. The ongoing infighting over how to resolve Bitcoin’s capacity woes now directly involves the....
Related News
Developer Peter Todd has caused quite a stir in the community by committing a double spend on Coinbase. Taking $10 from the company and buying Jeremy Gardner of the Augur project some reddit gold. Todd admitted to the action via Twitter and GitHub with the crack he created. At this time, Gardner says he and Todd were conversing, and Todd had decided to “make a point about security in the industry” Gardner goes on to say that he had succeeded on his first try and was able also to snap a screenshot of the action. Many people in the community went crazy on Twitter following this announcement.....
Core developer Peter Todd is known for his forthright ideas on how to improve the security and stability of bitcoin, while staying true to the technology's decentralised roots. An avid Twitter user and conference regular, Todd has worked on everything from off-chain transactions and privacy-enhancing stealth addresses to '2.0' projects like Viacoin, Counterparty and coloured coins. In this video, he discusses his first experiences with bitcoin and precursor Hashcash and I ask how centralisation, regulation and scalability might shape bitcoin's future. View the full video interview below:....
Bitcoin Core contributor Peter Todd recently discussed a variety of topics on The Crypto Show. Todd was asked if he is still worried about the possibly negative implications of a controversial hard fork induced by Bitcoin Classic or any other alternative Bitcoin client. said he is still worried about a hard fork due to some larger block size limit supporters who seem willing to “fork Bitcoin at all costs.” When Todd was first asked how he felt about his hard fork worries, he brought up the fact that some parts of the Bitcoin community seem ready to fork the blockchain no matter what. He....
The Lightning Network is viewed by many in the Bitcoin community as the network’s best hope for long-term scalability. The concept uses payment channels to perform bitcoin transactions off-chain, with the blockchain acting as a sort of backup court system for situations where someone decides not to play nice. The creators of this system for instant micropayments estimate that it could eventually be used to process billions of transactions per second. While a combination of smart contracts and game theory are used to make sure the system works properly for everyone, Bitcoin Core....
The lineup for the third edition of the bitcoin developer conference Scaling Bitcoin is now available. Released today, the lineup features a heavy emphasis on talks devoted to scaling, or proposed improvements that would boost the transaction capacity of the bitcoin protocol. Planned talks include "Sidechain Scaling" by Bloq’s Paul Sztorc and "Progress on Scaling via Client-Side Validation" by developer Peter Todd. The event is scheduled to be held from 8th to 9th October in Milan, Italy, at Politecnico di Milano. The full program is divided into six sections including....