Hi,
I was thinking about how to scale the block-chain.
The fundamental problem is that if the miners add capacity it will only
increase (protect) their share of block reward, but does not increase the
speed of transactions. This will only raise the fee in the long run with
the block reward decrea
Hello Gregory,
Thanks for you feedback.
The BIP has been updated to explicitly specify the multiparty key
derivation scheme which hopefully addresses your concerns.
Please have a look at the updated draft of the BIP at the link below:
https://github.com/commerceblock/pay-to-contract-protocol-sp
On Friday, 1 September 2017 14:47:08 CEST Cserveny Tamas via bitcoin-dev
wrote:
> The fundamental problem is that if the miners add capacity it will only
> increase (protect) their share of block reward, but does not increase the
> speed of transactions.
Adding more space in blocks has no effect
> > The current chain is effectively single threaded.
>
> This is not true, since xthin/compactblocks have been introduced we
> completely removed this bottle-neck.
> The transactions will be validated continuously, in parallel and not just
> when a block is found.
>
If I understood correctly, OP
On 01/09/17 01:15 PM, Lucas Clemente Vella via bitcoin-dev wrote:
>
> > The current chain is effectively single threaded.
>
> This is not true, since xthin/compactblocks have been introduced we
> completely removed this bottle-neck.
> The transactions will be validated continuously,
Yes. I meant the single thread as an analogy, if a block is found, other
blocks are worthless. (more or less) Longest chain wins.
My line of though was, that currently the only way to scale with the
traffic (and lowering the fees) is increasing the block size (which is hard
as I learned from recen
On 01/09/17 02:15 PM, Cserveny Tamas via bitcoin-dev wrote:
> Yes. I meant the single thread as an analogy, if a block is found,
> other blocks are worthless. (more or less) Longest chain wins.
>
> My line of though was, that currently the only way to scale with the
> traffic (and lowering the fees
