Initially Designed For Bitcoin, Lightning Network Gets Widely Adopted by Altcoins

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Scaling Bitcoin has been a topic of substantial debate for quite some time now. When Bitcoin Cash came around, it almost seemed as if these problems would be put to rest once and for all. Bitcoin scalability roadmap to peace its on-chain scaling approach, BCH is the most functional version of Bitcoin right now.

In fact, it seems we will see another major on-chain scaling upgrade for BCH in the very near future. If things go according to plan, megabyte blocks will become the new normal very soon. Even though the Bitcoin Cash network can comfortably support 8MB bitcoin scalability roadmap to peace right now, very few mining pools and service providers do so.

In fact, Antpool only has started mining 4MB blocks, indicating there is still some room to breathe, so to speak. Thinking ahead will become a necessity at that point. To counter any future problems in this regard, the Bitcoin Cash developer community has put a roadmap on the table to increase the default block size to 32MB later this year. It bitcoin scalability roadmap to peace well known that such a plan has been discussed before. On-chain scaling of Bitcoin Cash seems to be the right way forward, as it is something the vast majority of its community will easily agree to.

The big question is whether or not major mining pools are confident they can support 32MB blocks. Especially when it comes to Chinese service providers, the existing infrastructure may not be able to deal with such a large block size right away.

All developers in the Bitcoin Cash community have the same vision when it comes to future scalability. Becoming and remaining a fast and low-fee peer-to-peer electronic cash system will be a big challenge, but nothing is impossible. With the focus on increasing the block size further, it will be interesting to see what the future holds for BCH.

It is evident that this new major block size increase will need a fair bitcoin scalability roadmap to peace of testing and support from the BCH community as a whole. So far, things seem to be heading in the right direction, but there will undoubtedly be more debates regarding this choice. It is good bitcoin scalability roadmap to peace see such proposals arrive well ahead of time. It is also interesting to note that the Bitcoin Unlimited team has confirmed that a 32MB block size increase was once possible for Bitcoin.

Bitcoin will not pursue any on-chain scaling solutions in the near future, by the look of things, which may turn out to be the wrong decision in the end. Only time will tell whether the BCH team is on the right track. So far, the efficiency advantage seems to confirm as much. I am a robot. I just upvoted you! I bitcoin scalability roadmap to peace similar content that readers might be interested in: Awesome news cryptonewslife hollowpoints.

This post has been upvoted from the communal account, minnowsupportby cryptonewslife from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: Be sure to leave at least 50SP undelegated on your account.

Authors get paid when people like you upvote their post. I'm a firm believer of bitcoin cash.

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Capacity increases for the Bitcoin system , written by Gregory Maxwell and published 7 Dec to the bitcoin-dev mailing list. New technology will be deployed when it is ready and has been tested.

However, we believe the following is a reasonable schedule for the specific improvements described in the roadmap. The code will not be released until it has been well reviewed, and the actual fork will take time to activate BIP66 activated in July after a few months; BIP65 activated in Dec after only 5 weeks.

IBLTs and weak blocks: This improvement is accomplished by spreading bandwidth usage out over time for full nodes, which means IBLT and weak blocks may allow for safer future increases to the max block size. The current proposal for soft fork segregated witness segwit counts each byte in a witness as 0. However, blocks are not expected to consist entirely of witness data and each non-witness byte is counted as 1. According to some calculations performed by Anthony Towns, a block filled with standard single-signature P2PKH transactions would be about 1.

Some ideas are easy to explain but hard to execute. Other ideas are easy to execute but hard to explain. Segregated witness segwit seems to be the latter. Segwit can be deployed incrementally without breaking compatibility, so no significant preparation of the ecosystem is necessary. Developers who want immediate hands-on experience with segwit can begin to test their software on the segwit testnet being deployed in Dec Initially, only miners who wish to support it need to upgrade in order to activate it and enforce it on the mainnet.

Existing applications only need to change if they wish to take advantage of the new features. Segregated witness transactions will require lower fees, will afford much greater performance optimizations, and can support multistage smart contracts and protocols such as bi-directional payment channels that can scale without writing extra data to the blockchain.

Wallets are strongly encouraged to upgrade but can continue to operate without modification as the deployment does not break backwards compatibility. The simplest change would be a hard fork to update that line to say, for example, 2,, bytes 2MB. Miners, merchants, developers, and users have never deployed a hard fork, so techniques for safely deploying them have not been tested. Hard forks require all full nodes to upgrade or everyone who uses that node may lose money.

This includes the node operator, if they use it to protect their wallet, as well as lightweight clients who get their data from the node. Even a single-line change such as increasing the maximum block size has effects on other parts of the code, some of which are undesirable. In 2MB blocks, a 2MB transaction can be constructed that may take over 10 minutes to validate which opens up dangerous denial-of-service attack vectors.

Other lines of code would need to be changed to prevent these problems. Despite these considerable complications, with sufficient precautions, none of them is fatal to a hard fork, and we do expect to make hard forks in the future. Segwit does require more changes in higher level software stacks than a simple block size increase, but if we truly want to see bitcoin scale, far more invasive changes will be needed anyway, and segwit will gently encourage people to upgrade to more scalable models right away without forcing them to do so.

Developers, miners, and the community have accrued significant experience deploying soft forks, and we believe segwit can be deployed at least as fast, and probably more securely, than a hard fork that increases the maximum block size. That is not part of the roadmap. We currently have the ability to increase the capacity of the system through soft forks that have widespread consensus without any of the complications of a hard fork, as described in an earlier question , so the expectation that there will be an eventual hard fork is not sufficient reason to attempt one now.

In addition to giving us extra transaction capacity, the improvements proposed in the roadmap combined with other technology such as bi-directional payment channels give users the ability to reduce the amount of blockchain space they use on average—effectively increasing the capacity of the Bitcoin system without increasing the amount of full node bandwidth used.

BIP68 and BIP allow bi-directional payment channels to stay open indefinitely, which we expect to vastly reduce the number of payment channel transactions that need to be committed to the blockchain.

Segregated witness allows soft forks to change the Bitcoin Script language in ways that could reduce the average size of a transaction, such as using public-key-recovery-from-signatures or Schnorr combined signatures.

Segregated witness permits the creation of compact fraud proofs that may bring the security of Simplified Payment Verification SPV lightweight clients up near to that of full nodes, which may allow the network to function well with fewer full nodes than it can under currently-deployed technology.

The actual effect of these technologies is unknown, but scaling now with a soft fork that has wide consensus allows us to obtain the immediate gains, test and measure the mid-term possibilities, and use that data to formulate long-term plans. Scripts are hashed twice, first to bits and then to bits. The bit hash will be compatible with existing P2SH addresses, so upgraded wallets will be able to send and receive bitcoins to and from currently existing wallets.

Scripts are hashed once to bits. This format will not be compatible with existing wallets but will allow more efficient use of block space and will offer better security due to greater collision resistance. Each byte of the witness part of a segregated witness segwit transaction will only count as 0.

Some people think this means the first transaction they see that spends a particular input is safe, but this is untrue. The original version of Bitcoin provided people with a way to indicate that they wanted to be able to update their transactions, but Nakamoto had to disable it in to prevent denial-of-service attacks. This feature is planned for Bitcoin Core 0.

Weak blocks and IBLTs can both be deployed as network-only enhancements no soft or hard fork required which means that there will probably only be a short time from when testing is completed to when their benefits are available to all upgraded nodes. We hope this will happen within After deployment, both weak blocks and IBLTs may benefit from a simple non-controversial soft fork canonical transaction ordering , which should be easy to deploy using the BIP9 versionBits system described elsewhere in this FAQ.

Most previous soft forks have not provided these benefits to miners either. The BIP66 strict DER soft fork which activated in July will soon be providing reduced processing time by making it possible to switch to libsecpk1 for validation as described elsewhere is this FAQ. The reduced validation time makes it uncommon among soft forks in providing direct benefits to miners.

What segregated witness segwit does is provide several major benefits to anyone who uses it to create transactions:. A permanent fix for third-party malleability, allowing multi-stage smart contracts to flourish. A modest reduction in fees. Easy future upgrades to Bitcoin Script, so wallets can more easily gain access to new features. Segwit and the other improvements in the roadmap provide significant usability enhancements.

In addition, segwit allows miners to put more transactions in their blocks, which may allow them to increase their per-block revenue.

Start by reading the Bitcoin Core contributor pages on Bitcoin. In particular, code review is a critical part of getting soft forks deployed.

To get specific suggestions on how you can help, please join the bitcoin-dev IRC channel. This page has moved to the new Bitcoin Core website click here to be redirected. Capacity increases FAQ Other versions: What specific technologies are included in the roadmap, and when can we expect them? Is the segregated witness soft fork equivalent to a 4MB block size increase, a 2MB increase, a 1. I keep hearing different numbers. Segregated witness sounds complicated; will the ecosystem be prepared for its deployment?

Segregated witness still sounds complicated. Why not simply raise the maximum block size? Will there be a hard fork before or as part of the segregated witness implementation? How will segregated witness transactions work for wallets? If no one is forced to upgrade, why will anyone bother to upgrade? I heard P2SH took almost two years to become widely deployed.

I heard you were breaking zero-confirmation transactions. Which technology in the scaling roadmap is doing that? What is the roadmap? Hard forks are anything but simple: For example, BIP68 and BIP allow bi-directional payment channels to stay open indefinitely, which we expect to vastly reduce the number of payment channel transactions that need to be committed to the blockchain.

Wallets that currently support P2SH can migrate to full segregated witness in two phases: What segregated witness segwit does is provide several major benefits to anyone who uses it to create transactions: How can I help?

BIP34 height in coinbase.