Bitcoin new idea for scalability

[Captain Karim 0]

If they can solve this loophole, Bitcoin will fly over the wind, now and with this potential loophole its price has previously reached $ 20,000. If the most important problem is dual spending, it is not surprising that it reaches $ 200,000 within several days.

[Shaza Ahmad 1682]

The problem of scalability and dual spending is one of the biggest problems facing Bitcoin, but I do not know how far the Swiss can implement these offered solutions.

[rekter 8129]

On 10/23/2019 at 12:14 PM, hexwin said:

https://coinspace.com/news/bitcoin-news/researchers-propose-new-way-achieve-bitcoin-security-minimal-energy

 

What do you think about it?
Looks like a nice idea that could be implemented in future.
Ledger would be double size and no more double spending issues 

I am guessing that it most likely ends up being a fork of bitcoin, because btc maximalists are very careful not to touch the core code. And i understand them perfectly, as radical code changes devalues btc at least in short term. Untested new tech often brings up new vulnerabilities.

[tienda 8776]

Thank you for sharing that and yes you are right, also this is a good idea ans they need to expand this idea to others countries not just in Switzerland, because that this idea is useful and helpful, so I hope they will get a very good result.

[Thekingcallme 1975]

It really seems like a good idea to have a dual blockchain created and maintained in order to preserve bitcoin as well as reduce its expansion

[Raqeebzy 6456]

This kind of technological development is what we need to help in the growth of cryptocurrency which I think the rate of power consumption is a big deal. A very brilliant stuff. 

[Upright 2688]

The scalability part is one of the main mentions as when regarding the aspect if the Crypto coin, electricity cist are those which some researcher on energy reserves will always kind of talk about, as when especially dealing with mining as basically electricity is a common utility which is used every where and exception on electricity on Crypto is like be uneven

[BTC Future 3946]

Personally I feel that this much excess energy consumption for validating transactions will not be needed in the future. There are profits right now that don't allow changes and billions at stake. The people involved are too many and it will be highly unlikely that there will be consensus on approving a swift to an nature friendly mechanism. This is sad as the environment is suffering from the human footprint with the massive consumption of resources as coal and oil that create polution. I am an advocate of ecological ways to produce electricity though and hopefully miners will chose ways that are friendly to the environment.

[Rezort 846]

It might be a good idea but I also think that the current idea of bitcoin have still not reached it potential yet, so I am happy to see new idea as a good addition to the main ones.

[Zaino34 0]

These are really good news we must always strive to find good solutions for digital currencies and Bitcoin especially the problem of energy greatly affects Bitcoin mining and some people depend on other energy sources for mining such as solar energy to produce the electricity needed for mining

[TimopheyKa 3900]

Of course, cryptocurrency mining requires a certain level and energy consumption. I am so happy for Switzerland, because they are actively developing in the world of cryptocurrency, the blockchain system - and this really shows the great and stable success of the country

[Jessica Karren 1242]

It's good that this technology is evolving more day by day. There is a always a chance of improvement. By implementing these concepts of Quorum, Energy Hog and Contagion bitcoin transactions become more fast and will require minimal energy.

[CryptoLover21 0]

Then it will be easier to mine the coin with even low resources and low power consumption. I think it can disturb the price of the bitcoin because it will easier to mine coins.

[Iriswolfgang 200]

On 10/23/2019 at 5:14 PM, hexwin said:

https://coinspace.com/news/bitcoin-news/researchers-propose-new-way-achieve-bitcoin-security-minimal-energy

 

What do you think about it?
Looks like a nice idea that could be implemented in future.
Ledger would be double size and no more double spending issues 

Having new ideas in cryptocurrencies and in Bitcoin is great because people now understand that it is great to be more developing about cryptocurrency so that people will experience more and new features in the cryptocurrencies that they are using

[BrolySSJ 7899]

I have just read the article that you have attached in your topic and i was unaware that bitcoin account for such a large portion of the world energy consumption. I guess now that i truly think about the cpu power required in bitcoin mining and the energy consumption is rather great so i am not entirely surprised but it was a shocking figure to see. The idea to confirm transaction with minimal energy is a good idea, although i did not fully understand the article when it spoke about random sampling. However the overall idea is great and hopefully it can come to light in the future.

[AlexBerkut 51]

On 23.10.2019 at 13:14, hexwin said:

https://coinspace.com/news/bitcoin-news/researchers-propose-new-way-achieve-bitcoin-security-minimal-energy

 

What do you think about it?
Looks like a nice idea that could be implemented in future.
Ledger would be double size and no more double spending issues 

Scalability is one of the problems with Bitcoin and other blockchain-based systems. The more nodes in the system, the more time it takes to synchronize them with each other. There is a huge field for improving the approach to the functioning of such systems.

[Razan alikac 1899]

Well, I think that the double spending problem and the 51% attack are what threaten Bitcoin the most and the cryptocurrencies that operate in  proof-of-work method, so I support any method or development that supports finding a solution to this problem and takes us to a stage that no one can influence the promising future of Bitcoin. .

[Guru2050 8284]

Bitcoin is beyond such imagination and nothing to hindered BTC power of rising nature. Though the value can be altered with some external or internal factors some times and in moment continue pumping upwardly again day and night

[annayks 2314]

If this is viable it can be proposed to the Bitcoin community then. There are many proposals and anything is discussed first and then given a green light if everybody agrees. I don't think it is bad for researchers to make proposals but if there is even a slight chance this will make security less then it is not worth the trouble.

[Mella 3680]

I was trying to open the link and it was loading but later gave me the message that it was removed.

Maybe this was something the author was not very proud of or was discussed and found not have good chance. It is make me want to know about this but I am hope if someone has another link of this information to provide please.

[Moaz 7239]

Of course, it is a good idea that the world of cryptography is constantly developing, especially Bitcoin, and experts in blockchain technology are always trying to invent ideas in order to improve the value of the bitcoin on which the crypto market depends mainly.

[zhoutong 2188]

The link for this study is here: https://arxiv.org/abs/1908.01738

It describes how consensus can be eliminated by the Bitcoin ecosystem and how this will help the scalability problem of the Bitcoin blockchain. Instead of Bitcoin it will probably be something used by new and upcoming cryptocurrencies.

[kryptonick 2659]

I've heard about something similar and there have been many new proposals but some that have been tested with other blockchain projects did not seem to be very secure. I haven't read this before but maybe it has a good chance and in case it is considered there is a lot of testing to be done and results to be obvious. Bitcoin can't change easily.

[MahimaMariam 919]

Good day my friend. I really appreciate the views you put forward. It is one of the best platform where we can earn and learn. We can earn income very easily. It helps to share our views and opinions. When new features comes it will improve the platform. 

[bogdanoff 3173]

There are many ideas and suggestions for Bitcoin and scalability. There was one about big blocks before and it led to a fork and a split chain of Bitcoin Cash. It seems that Bitcoin is hard to change because of consensus bus it is how it is governent and I am sure if there will be problems there will be ways to be fixed.