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Title: idea to solve scalability problem Post by: tutkarz on March 14, 2016, 11:51:05 AM I think it could be possible to change bitcoin code to add more bitcoins. I mean blockchains. If one blockchain is not enough, then maybe we could have more?
Current bitcoin blockchain could be bc1. Because there is high demand for more transactions, we could add another blockchain bc2 that have parallel transactions. You could have accounts in wallet in different blockchains and could see which one is less used to pick one you would like to use. Ofcourse there should be a way to allow to move bitcoins between blockchains. What about rewards for miners? I think bitcoins should be split between current count of blockchains to not change inflation. If we have 50 btc as block reward, with multiple blockchains reward would be 50/(blockchain amount) plus fees. But there would be (blockchain amount) more blocks per 10min than now. I am not core developer and because of that I don't know if it is 100% doable but if it would, we could scale blockchains that way forever just by adding another ones until we find something better :) And another good thing about that woud be that you could have only one of the blockchains on disk and not have to save all transactions in all blockchains ... Title: Re: idea to solve scalability problem Post by: achow101 on March 14, 2016, 01:34:55 PM What you just proposed is basically sidechains, something already proposed and being worked on. Google it to find out more on how it works.
Title: Re: idea to solve scalability problem Post by: rizzlarolla on March 14, 2016, 09:14:59 PM Yeah, being worked on. ALT coins unlimited. Title: Re: idea to solve scalability problem Post by: watashi-kokoto on March 15, 2016, 12:06:34 AM when you create 1000 altcoins like doge , lite , eth, you can easily handle visa scale
good thing they can be traded bad thing you cannot pay from bitcoin to doge directly also Bitcoin has not many users because not popular enough if this happens, we can grow easily with altcoins but user's not here yet so relax Title: Re: idea to solve scalability problem Post by: Ch3wbacca on March 23, 2016, 11:16:16 AM Shapeshift does a wonderful job at bridging certain cryptocurrencies along with Bitcoin which allow them to be used as payments.
I believe at one point we may be allowed to send Dogecoin to BTC addresses and vice versa, and have an auto exchange but in the meantime, it is only possible with 3rd party services. Title: Re: idea to solve scalability problem Post by: amaclin on March 23, 2016, 09:30:55 PM What you just proposed is basically sidechains, something already proposed and being worked on. Google it to find out more on how it works. Does it work? ;DTitle: Re: idea to solve scalability problem Post by: Blockchain.Ventures on March 24, 2016, 01:52:16 AM What you just proposed is basically sidechains, something already proposed and being worked on. Google it to find out more on how it works. Does it work? ;DCurrently under development by https://blockstream.com/ Title: Re: idea to solve scalability problem Post by: icecube45 on March 24, 2016, 02:54:17 AM when you create 1000 altcoins like doge , lite , eth, you can easily handle visa scale good thing they can be traded bad thing you cannot pay from bitcoin to doge directly also Bitcoin has not many users because not popular enough if this happens, we can grow easily with altcoins but user's not here yet so relax this is a major issue i have found when dealing with smartcoins and altcoins, in the end i always come back to bitcoin. no other coin offers the volume of liquidity, lets face it at the end of the day we need to be discussing scaling bitcoin before we fix any altcoins. i dont know about you but i vastly prefer etherium to bitcoin in my day to day, wish it had the liquidity. Title: Re: idea to solve scalability problem Post by: amaclin on March 24, 2016, 04:54:23 AM What you just proposed is basically sidechains, something already proposed and being worked on. Google it to find out more on how it works. Does it work? ;DCurrently under development by https://blockstream.com/ The second question: How do you know - is it mathematically possible? Title: Re: idea to solve scalability problem Post by: Blockchain.Ventures on March 24, 2016, 07:04:27 AM What you just proposed is basically sidechains, something already proposed and being worked on. Google it to find out more on how it works. Does it work? ;DCurrently under development by https://blockstream.com/ The second question: How do you know - is it mathematically possible? There is already a working version https://www.elementsproject.org/sidechains/alpha/ It is just not working on Bitcoin blockchain for now. Title: Re: idea to solve scalability problem Post by: whizz94 on March 25, 2016, 06:18:43 PM look up "coloured coins" and "extranonce". I think you'll find that in an evening longer than it takes to unwrap a shiney new asic miner, plug it in and start mining ordinary BTC, you could instead set to mining your own "coloured coin" distinguishable from others by an extranonce chosen by you in every block, and a 2016 genesis block started by you. The unsolved problems are:
- how do other remote users know whether to trust the unauthenticated binary which you say to them does N-BTC tokens for your business empire ( miner and wallet applications both exist ) - what happens if your exchange between BTC and N-BTC goes down for a while ? - is your exchange one-way "buy tokens here" or the fairer sounding two way trade which gets pounced on for arbitrage gains ? N-BTC probably is not quite the best for small quick transactions; see how you go with looking at other altcoins. |