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Title: (New?) way of scaling decentralized payments Post by: Discounted on March 07, 2020, 07:37:45 PM First off, I want to say it's not like I'm some Satoshi Nakamoto, this is just a shower thought..
So we all know Bitcoin transactions became very inefficient throughout time, it wasn't always as slow and expensive since it has now become. What I was thinking about, what if instead of 1 single Bitcoin blockchain, there were 10 different chains, each with 2.1M bitcoin, people can choose in which chain they want to have their coins ofcourse, but these would be the 10 Bitcoin chains. This way transactions are not all stressed under one chain and speeds and transactions fees should go back to early bitcoin days. It's almost like with internet connections, people can choose routing channels, which ones are the fastest at the moment. Same for miners too, they can choose the concurrent most profitable chain of the 10, or whatever number is the most scalable chains. I could totally be wrong ofcourse, let me know what you guys think. Title: Re: (New?) way of scaling decentralized payments Post by: LoyceV on March 07, 2020, 07:45:37 PM You may be interested in reading about a Directed Acyclic Graph (DAG):
https://miro.medium.com/max/2560/1*FNV15RoDsJPFv1e7jx3RqA.jpeg Source and further reading (https://medium.com/@Suirelav/introduction-to-byteball-part-2-the-dag-ce84ca4c4e01). But that's not Bitcoin. Title: Re: (New?) way of scaling decentralized payments Post by: Discounted on March 07, 2020, 07:52:02 PM You may be interested in reading about a Directed Acyclic Graph (DAG): https://miro.medium.com/max/2560/1*FNV15RoDsJPFv1e7jx3RqA.jpeg Source and further reading (https://medium.com/@Suirelav/introduction-to-byteball-part-2-the-dag-ce84ca4c4e01). But that's not Bitcoin. Thanks a lot, it sure is interesting. Title: Re: (New?) way of scaling decentralized payments Post by: CristianOff on March 07, 2020, 09:47:31 PM You may be interested in reading about a Directed Acyclic Graph (DAG): https://miro.medium.com/max/2560/1*FNV15RoDsJPFv1e7jx3RqA.jpeg Source and further reading (https://medium.com/@Suirelav/introduction-to-byteball-part-2-the-dag-ce84ca4c4e01). But that's not Bitcoin. This is such a smart thing so many people don't know about. Melted my heart when I read about it. Thanks for sharing First off, I want to say it's not like I'm some Satoshi Nakamoto, this is just a shower thought.. So we all know Bitcoin transactions became very inefficient throughout time, it wasn't always as slow and expensive since it has now become. What I was thinking about, what if instead of 1 single Bitcoin blockchain, there were 10 different chains, each with 2.1M bitcoin, people can choose in which chain they want to have their coins ofcourse, but these would be the 10 Bitcoin chains. This way transactions are not all stressed under one chain and speeds and transactions fees should go back to early bitcoin days. It's almost like with internet connections, people can choose routing channels, which ones are the fastest at the moment. Same for miners too, they can choose the concurrent most profitable chain of the 10, or whatever number is the most scalable chains. I could totally be wrong ofcourse, let me know what you guys think. Sounds interesting. Maybe if we had some sort of "routers" between those blockchains? ::) So maybe a coin could travel over other blockchains but faster. I believe this is actually an implementable solution which is truly visionary. Those "blockchains" are not blockchains but rather "routes" which would make this idea closer to reality. The direction is correct, now we need the engineers Title: Re: (New?) way of scaling decentralized payments Post by: odolvlobo on March 07, 2020, 10:12:34 PM ... What I was thinking about, what if instead of 1 single Bitcoin blockchain, there were 10 different chains, each with 2.1M bitcoin, people can choose in which chain they want to have their coins ofcourse, but these would be the 10 Bitcoin chains. ... Do mean something like these 10 Bitcoin chains? 1. Bitcoin 2. Bitcoin Cash 3. Bitcoin SV 4. Bitcoin Gold 5. Bitcoin Diamond 6. United Bitcoin 7. Bitcoin Super 8. Segwit2x 9. Bitcoin World 10. Bitcoin Faith Title: Re: (New?) way of scaling decentralized payments Post by: Discounted on March 07, 2020, 10:37:00 PM ... What I was thinking about, what if instead of 1 single Bitcoin blockchain, there were 10 different chains, each with 2.1M bitcoin, people can choose in which chain they want to have their coins ofcourse, but these would be the 10 Bitcoin chains. ... Do mean something like these 10 Bitcoin chains? 1. Bitcoin 2. Bitcoin Cash 3. Bitcoin SV 4. Bitcoin Gold 5. Bitcoin Diamond 6. United Bitcoin 7. Bitcoin Super 8. Segwit2x 9. Bitcoin World 10. Bitcoin Faith No not different chains, like that, but I'm sure you understood that part. Title: Re: (New?) way of scaling decentralized payments Post by: Discounted on March 07, 2020, 10:39:05 PM You may be interested in reading about a Directed Acyclic Graph (DAG): https://miro.medium.com/max/2560/1*FNV15RoDsJPFv1e7jx3RqA.jpeg Source and further reading (https://medium.com/@Suirelav/introduction-to-byteball-part-2-the-dag-ce84ca4c4e01). But that's not Bitcoin. This is such a smart thing so many people don't know about. Melted my heart when I read about it. Thanks for sharing First off, I want to say it's not like I'm some Satoshi Nakamoto, this is just a shower thought.. So we all know Bitcoin transactions became very inefficient throughout time, it wasn't always as slow and expensive since it has now become. What I was thinking about, what if instead of 1 single Bitcoin blockchain, there were 10 different chains, each with 2.1M bitcoin, people can choose in which chain they want to have their coins ofcourse, but these would be the 10 Bitcoin chains. This way transactions are not all stressed under one chain and speeds and transactions fees should go back to early bitcoin days. It's almost like with internet connections, people can choose routing channels, which ones are the fastest at the moment. Same for miners too, they can choose the concurrent most profitable chain of the 10, or whatever number is the most scalable chains. I could totally be wrong ofcourse, let me know what you guys think. Sounds interesting. Maybe if we had some sort of "routers" between those blockchains? ::) So maybe a coin could travel over other blockchains but faster. I believe this is actually an implementable solution which is truly visionary. Those "blockchains" are not blockchains but rather "routes" which would make this idea closer to reality. The direction is correct, now we need the engineers Exactly. It'd have to be engineered in an ease of use way though, like the best suitable blockchain for a certain transaction being automatically selected, your balance over the 10 blockchains being combined and shown in the front end wallet etc. It's a shame I myself have no computer engineering experience like this however. I truly believe it could turn into an exceptional project. Title: Re: (New?) way of scaling decentralized payments Post by: odolvlobo on March 08, 2020, 06:09:34 AM ... What I was thinking about, what if instead of 1 single Bitcoin blockchain, there were 10 different chains, each with 2.1M bitcoin, people can choose in which chain they want to have their coins ofcourse, but these would be the 10 Bitcoin chains. ... Do mean something like these 10 Bitcoin chains? 1. Bitcoin 2. Bitcoin Cash 3. Bitcoin SV 4. Bitcoin Gold 5. Bitcoin Diamond 6. United Bitcoin 7. Bitcoin Super 8. Segwit2x 9. Bitcoin World 10. Bitcoin Faith No not different chains, like that, but I'm sure you understood that part. Anyway, I think the DAG suggestion by Loyce is really what you want, though it isn't what you asked for. My answer is not what you were hoping for, but it is exactly what you asked for. In short, if you have separate chains then that is what you get. If you don't want that then you can't have separate chains. If the DAG intrigues you, take a look at IOTA: https://blog.iota.org/the-tangle-an-illustrated-introduction-4d5eae6fe8d4 |
