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Author Topic: How faster transactions can be implemented  (Read 602 times)
Wind_FURY
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November 18, 2021, 12:17:19 PM
 #41

The solution? A low latency cryptocurrency network, which is only possible through a gigameg internet network that could download and upload gigamegs of data within seconds that’s available for everyone.
I'm afraid that won't solve the real issue either. Bitcoin blocks are not like a video that you just stream, they have to be validated which requires expensive computation work followed by database updates, which is the actual bottlenecks.


Then besides a very low latency network, thanks to our fictitious, perfect gigameg internet available to all, add our fictitious, cheap, high-grade institutional hardware network of full nodes. All post-IBD validation is processed within milli-seconds.

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Storytellers
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November 25, 2021, 08:20:14 AM
 #42

There are several ways to speed up the bitcoin transaction and i will list them below:

- Replace-by-Fee (RBF (for transactions sent by you)To implement RBF you need to use a wallet thats upports this functionality
- Child Pays for Parent (CPFP)
- Transaction accelerators

if you need more info be welcome to reply to me to try to help you little bit more.
ABCbits
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November 25, 2021, 11:30:14 AM
Last edit: November 26, 2021, 08:41:38 AM by ETFbitcoin
Merited by BlackHatCoiner (1)
 #43

All post-IBD validation is processed within milli-seconds.

All? milliseconds? It's unlikely since there are many factor which affect verification time. Check this snipped answer by Pieter Wuille.

  • Signature cache size and CPU speed. The larger the cache, the more signature validations can be avoided. These validations - depending on the software version and hardware van vary from 0.01ms to 0.6ms per signature (45ms to 2.7s for a block).
  • Correlation between the memory pool and the new block. If a block contains transactions that a node hasn't seen before, its inputs and signatures are less likely to be cached before.



There are several ways to speed up the bitcoin transaction and i will list them below:

- Replace-by-Fee (RBF (for transactions sent by you)To implement RBF you need to use a wallet thats upports this functionality
- Child Pays for Parent (CPFP)
- Transaction accelerators

if you need more info be welcome to reply to me to try to help you little bit more.

It's not wrong answer, but what OP means is increasing transaction speed (as in getting confirmed) by modifying Bitcoin protocol/node implementation.

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n0nce
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November 29, 2021, 03:44:56 AM
 #44

The solution? A low latency cryptocurrency network, which is only possible through a gigameg internet network that could download and upload gigamegs of data within seconds that’s available for everyone. If Bitcoin can’t have something like this, the Core Developers must adapt with what’s available, and they are doing a very good job.

Besides the fact that this claim is false, a 'gigameg' doesn't mean anything regarding an internet network. It literally means 'billion million'. You're saying: which is only possible through a billion million internet network.

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