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Author Topic: [2015-12-30] Garzik and Andressen State that Maxwell’s Bitcoin Roadmap Lacks...  (Read 521 times)
may_flava (OP)
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December 30, 2015, 01:12:04 PM
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Two prominent Bitcoin Core contributors, Jeff Garzik and Gavin Andressen, co-wrote a response to the recently published bitcoin scalability roadmap by Gregory Maxwell, which is based on the SegWit concept.

While recognizing that there are some great ideas involved in the roadmap, Garzik and Andressen state that the whole idea completely ignores such important issues as possible growth of fees in case it is implemented.

http://forklog.net/garzik-and-andressen-state-that-maxwells-bitcoin-roadmap-lacks-consideration-of-important-issues/
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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December 30, 2015, 04:56:50 PM
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In particular, they wrote:

    “If Bitcoin block size is not increased via a hard-fork, when the next Bitcoin reward halves, Bitcoin transaction fees may become prohibitively high for certain applications.”

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