Bitcoin Forum
February 17, 2020, 12:54:54 PM *
News: Latest Bitcoin Core release: 0.19.0.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: [2016-04-06] Bitcoin in need of restructuring, say Cornell researchers  (Read 431 times)
hendra147
Hero Member
*****
Offline Offline

Activity: 644
Merit: 509


View Profile
April 05, 2016, 04:31:15 AM
 #1

Juels says the current debate over block size overlooks bitcoin’s fundamental scaling challenge. He says tweaks to the block can be made as a quick fix, but the digital currency’s system must be completely redesigned in order to compete with major payment methods.

“The question isn’t what happens in the next year, but what happens in two or three year,” says Juels. “And that’s going to affect if Bitcoin becomes adopted as a mainstream currency or if cryptocurrency in general begins to wither.”

https://coinreport.net/bitcoin-need-restructuring-say-cornell-researchers/
1581944094
Hero Member
*
Offline Offline

Posts: 1581944094

View Profile Personal Message (Offline)

Ignore
1581944094
Reply with quote  #2

1581944094
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
TraderTimm
Legendary
*
Offline Offline

Activity: 2394
Merit: 1066



View Profile
April 05, 2016, 12:32:55 PM
 #2

Oh look, sheltered academia thinks it knows what we "need". How amusing. Maybe they can get their resources together and comment on "current" events like Mark Karpeles stealing from everyone. Nevermind, its all just fishing for funding so they can stay safe and cozy in their departments, researching bug farts and important issues of the day.

fortitudinem multis - catenum regit omnia
aigeezer
Legendary
*
Offline Offline

Activity: 1446
Merit: 1013


Cryptanalyst castrated by his government, 1952


View Profile
April 05, 2016, 01:55:22 PM
 #3


According to Dr. Juels' website, one of his research interests is:

"Honey objects: How can we create fake resources that deceive adversaries"

http://www.arijuels.com/

It may be wise to assume that he is a player, rather than an observer.

Perhaps he will comment on the story.

aso118
Legendary
*
Offline Offline

Activity: 1918
Merit: 1012


★Nitrogensports.eu★


View Profile
April 06, 2016, 10:15:14 AM
 #4

If the researchers are so sure of themselves, nothing stops them from developing a scalable altcoin.
They should put their money where their mouths are.


           █████████████████     ████████
          █████████████████     ████████
         █████████████████     ████████
        █████████████████     ████████
       ████████              ████████
      ████████              ████████
     ████████     ███████  ████████     ████████
    ████████     █████████████████     ████████
   ████████     █████████████████     ████████
  ████████     █████████████████     ████████
 ████████     █████████████████     ████████
████████     ████████  ███████     ████████
            ████████              ████████
           ████████              ████████
          ████████     █████████████████
         ████████     █████████████████
        ████████     █████████████████
       ████████     █████████████████
▄▄
██
██
██
██
██
██
██
██
██
██     
██
██
▬▬ THE LARGEST & MOST TRUSTED ▬▬
      BITCOIN SPORTSBOOK     
   ▄▄
██
██
██
██
██
██
██
██
██
██     
██
██
             ▄▄▄▄▀▀▀▀▄
     ▄▄▄▄▀▀▀▀        ▀▄▄▄▄           
▄▀▀▀▀                 █   ▀▀▀▀▀▀▀▄▄
█                    ▀▄          █
 █   ▀▌     ██▄        █          █               
 ▀▄        ▐████▄       █        █
  █        ███████▄     ▀▄       █
   █      ▐████▄█████████████████████▄
   ▀▄     ███████▀                  ▀██
    █      ▀█████    ▄▄        ▄▄    ██
     █       ▀███   ████      ████   ██
     ▀▄        ██    ▀▀        ▀▀    ██
      █        ██        ▄██▄        ██
       █       ██        ▀██▀        ██
       ▀▄      ██    ▄▄        ▄▄    ██
        █      ██   ████      ████   ██
         █▄▄▄▄▀██    ▀▀        ▀▀    ██
               ██▄                  ▄██
                ▀████████████████████▀




  CASINO  ●  DICE  ●  POKER   
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
   24 hour Customer Support   

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
Denker
Legendary
*
Offline Offline

Activity: 1442
Merit: 1014


View Profile
April 06, 2016, 10:44:48 AM
 #5

So this guy seems to be the desperately needed Bitcoin expert we are all looking for?! Roll Eyes Cheesy
Bitcoin is doing good so far I would say.
SegWit coming soon, LN seems to make great progress and first functional version seems to be ready this summer.
The roadmap for scaling is clear and the devs working hard.
Advises by that douchebag and wannabe are not needed thanks!
aigeezer
Legendary
*
Offline Offline

Activity: 1446
Merit: 1013


Cryptanalyst castrated by his government, 1952


View Profile
April 06, 2016, 04:01:19 PM
 #6

I don't know how to say this delicately, but, um, Dr. Juels is arguably the inventor of Proof of Work and is VERY well qualified to comment on crypto issues.

"The term "Proof of Work" or POW was first coined and formalized in a 1999 paper by Markus Jakobsson and Ari Juels."

https://en.wikipedia.org/wiki/Proof-of-work_system

His present agenda is a separate issue (I don't know what it is), but he is no amateur observer when it comes to BTC.

cr1776
Legendary
*
Offline Offline

Activity: 2520
Merit: 1086


View Profile
April 06, 2016, 04:56:30 PM
 #7

Juels says the current debate over block size overlooks bitcoin’s fundamental scaling challenge. He says tweaks to the block can be made as a quick fix, but the digital currency’s system must be completely redesigned in order to compete with major payment methods.

“The question isn’t what happens in the next year, but what happens in two or three year,” says Juels. “And that’s going to affect if Bitcoin becomes adopted as a mainstream currency or if cryptocurrency in general begins to wither.”

https://coinreport.net/bitcoin-need-restructuring-say-cornell-researchers/

Pegged side chains are also a potential solution to many things and they often seem to be discounted.
ArticMine
Legendary
*
Offline Offline

Activity: 2268
Merit: 1041


Monero Core Team


View Profile
April 06, 2016, 04:58:46 PM
 #8

Here is a link to the original paper http://fc16.ifca.ai/bitcoin/papers/CDE+16.pdf

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
TraderTimm
Legendary
*
Offline Offline

Activity: 2394
Merit: 1066



View Profile
April 07, 2016, 05:59:42 PM
 #9

I don't know how to say this delicately, but, um, Dr. Juels is arguably the inventor of Proof of Work and is VERY well qualified to comment on crypto issues.

"The term "Proof of Work" or POW was first coined and formalized in a 1999 paper by Markus Jakobsson and Ari Juels."

https://en.wikipedia.org/wiki/Proof-of-work_system

His present agenda is a separate issue (I don't know what it is), but he is no amateur observer when it comes to BTC.



But as you said in another prior post here, he could have an agenda that clouds his "recommendation". Even if he knows crypto backwards and forwards, being an authority on a subject doesn't mean you have some unique gift to predict future evolution of the Bitcoin ecosystem. We have plenty of "experts" that have declared Bitcoin "dead" a few times, too. I'm not exactly holding my breath for what this guy has to say.

I'm wary of self-appointed experts in general, especially this late in the game. Where were they when the whole enterprise was just getting started? Too deep into their own pet projects to contribute? The timing seems a bit suspicious to me.

fortitudinem multis - catenum regit omnia
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!