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patt0
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February 25, 2018, 11:46:04 PM
 #21

Why don't the developers just update Bitcoin like any other normal altcoin on the market?

For example give Bitcoin an update for larger block sizes, faster transactions speeds, privacy features, more transactions per second, lower fee's and maybe add in smart contracts.

All those things you've mentioned are already being developed. Expect for block increase, because bitcoin is going for of-chain solutions, that are far better than the on-chain solution that would make the coin to much centralized. Even the Director of Program Management from Microsoft stated that on-chain solutions (like block size increase) "generally degrades the decentralized state of the network and cannot reach the millions of transactions per second the system would generate at world-scale". The solution is on second layer solutions like the lightning network for example.

You can of course have a different opinion, that is up to you, but those are valid points and time will tell if BTC devs are doing the right thing or not. I actually think they are, and I continue saying that there is no other coin with the potencial of BTC. Maybe some coins are "ahead" in the sort term, but crypto are here for the future, and it's better for development to take it's time, so that the final project is good enough to stay in our lives.

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February 26, 2018, 05:50:17 AM
 #22

The nodes on the lighting network don't look "completely decentralised" to me, if you look at the live view of the lighting network nodes you can see a lot of centralization on the nodes with mostly 9 nodes connecting the 873 nodes together.

So you don't know what decentralised means. A picture often helps.

https://upload.wikimedia.org/wikipedia/commons/b/ba/Centralised-decentralised-distributed.png


And the "off-chain transactions" means the lightning network doesn't opperate on the blockchain right?

That's the point, Bitcoin is way ahead of the altcoins in making this possible.


Any reason it can't be distributed then?

Distributed networks quickly run into scaling limitations so using a decentralised network becomes a necessity to achieve mass adoption. If you know anything about data networks then this might help you understand https://medium.com/@melik_87377/lightning-network-enables-unicast-transactions-in-bitcoin-lightning-is-bitcoins-tcp-ip-stack-8ec1d42c14f5



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