The Real Scaling Solution For Bitcoin
Forget Lightning, there is an entirely different approach to Bitcoin scaling that fiat money has obscured.This is an opinion editorial by Knut Svanholm, author of “Bitcoin: Sovereignty Through Mathematics.”Bitcoin skeptics often claim that bitcoin doesn’t scale. They say that bitcoin’s on-chain transaction capacity of about seven transactions per second is too low, especially compared to the most common credit and debit card networks. These networks are centralized databases capable of more than a hundred thousand transactions per second. The standard Bitcoiner reply is that these critics....
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Consensys, an Ethereum software company, announced yesterday the launch of a new scaling solution for Ethereum, called “Consensys Rollups.” The company enlisted Mastercard programmers to design the solution, which aims to allow the network to reach a throughput of 10,000 TPS (transactions per second), according to a PR statement. The solution can be implemented on top of private, permissioned protocols like Quorum, or on public chains like Ethereum.
Consensys to Address Scaling With Mastercard’s Assistance
Consensys, an Ethereum software company, launched....
The layer two (L2) scaling solution Arbitrum revealed on Wednesday that the team has implemented the project’s Nitro rollup stack migration. Earlier this month, Arbitrum developers noted that the Nitro migration would reduce network fees and improve throughput.
Arbitrum Developers Implement Nitro Update
The Offchain Labs-managed L2 Ethereum scaling solution Arbitrum, told fellow Arbinauts (the project’s users) on Wednesday that the development team has implemented the Nitro upgrade. “All Arbinauts, please prepare for liftoff,” the team explained.
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According to a press release shared with Bitcoinist, Polygon (MATIC) will launch the first Ethereum equivalent layer two scaling solution, called Polygon zkEVM. Based on Zero Knowledge (ZK) Proof or zk roll-up technology, as the name suggests, this solution will provide developers with the tools to “seemingly” plug into the decentralized finance (DeFi) sector. Related […]
Scaling solutions sometimes come at the cost of decentralization. Most of DeFi's potential scaling options come at the cost of decentralization, according to Kosala Hemachandra, founder and CEO of crypto wallet solution MyEtherWallet. "From a perspective of fully decentralized blockchains, there's no blockchain that has a good enough scaling solution to support this many transactions," Hemachandra told Cointelegraph in an interview. "When you think from that perspective, Ethereum is the best solution out there."DeFi has boomed in 2020, with Ethereum arguably being the top choice for most....
In earlier February, the team behind Ethereum layer 2 scaling solution Optimism received word on a critical bug that could allow a bad actor to “create ETH” on the network. The bug was part of the solution’s Geth fork and was discovered by Jay “saurik” Freeman, Head of Technology at Orchid Protocol. Related Reading | […]