Bitcoin Technology

[soul-impact]

Is possible to upgrade the blockchain technology solving issues like the transactions taking too much time to finish without compromise the currency we have now or without creating a new version devaluing the currently one?

They are trying to upgrade the Bitcoin by adding the SegWit into its system. SegWit helps us to reduce the amount of KB per transaction and we can easily confirm more transactions at the time. However, I have not seen anything clearly about the SegWit up to now and I hope the the Bitcoin dev team will soon finish it before the number of Bitcoin users is more than 50 millions

[noictib]

Is possible to upgrade the blockchain technology solving issues like the transactions taking too much time to finish without compromise the currency we have now or without creating a new version devaluing the currently one?

In my opinion upgrading the system of the blockchain is not a option of solving the problem of transactions ( mainly in confirmation ) .
Because all this depends upon the online nodes in the whole world . In I remembered that last time online node was about 350 out of 8333 node( previous day ) .
You can understand easily why problems of unconfirmation happening .Numbers of transactions are more than the numbers of the nodes online .
I think Here. one and only one solution is to putting some news nodes systems only and increasing the reward to support the node system ( because I know that about one of them is rewarded once a week which can be disappointing for those who always making desire that he will get weekly money/bitcoin as reward)

[franky1]

pay nodes to be nodes does not lead to diverse decentralised node count

it leads to a select few people who run 100 nodes. who blacklist other people and white list their own to ensure the funds flow through their list to increase their own income

it also costs the transactor more due to having to pay for each 'hop'/relay on the way to where it should go.
which again ends up with people blacklisting certain nodes and trying to find ways to get to the destination with least hops/relays.

imagine Fibre
set up as the gate keeper to pools and filtering data down to the nodes but whitelisting which nodes connect to it. thus the single owner of Fibre (matt corallo) would get the income in such an event of 'nodes getting paid' because everyone loops through his Fibre nodes ring around the pools

[xIIImaL]

Is possible to upgrade the blockchain technology solving issues like the transactions taking too much time to finish without compromise the currency we have now or without creating a new version devaluing the currently one?

Even I noticed that issue in transaction of blockchain wallet to somewhere. I have forward my campaign income to my parent wallet but it took long time then before. Upgrading the version has to do by blockchain, Once they done with that then we can update on it accordingly.

[talkbitcoin]

Is possible to upgrade the blockchain technology solving issues like the transactions taking too much time to finish without compromise the currency we have now or without creating a new version devaluing the currently one?

In my opinion upgrading the system of the blockchain is not a option of solving the problem of transactions ( mainly in confirmation ) .
Because all this depends upon the online nodes in the whole world . In I remembered that last time online node was about 350 out of 8333 node( previous day ) .
You can understand easily why problems of unconfirmation happening .Numbers of transactions are more than the numbers of the nodes online .
I think Here. one and only one solution is to putting some news nodes systems only and increasing the reward to support the node system ( because I know that about one of them is rewarded once a week which can be disappointing for those who always making desire that he will get weekly money/bitcoin as reward)

you are completely wrong!
whether there are 10 nodes or 10 billion nodes, it doesn't matter for number of unconfirmed transactions. nodes are ensuring the security of the network and like a bakcbone of bitcoin network. they also help relaying the transactions.

in any case block size is the problem causing the issue here! a block can only take in a limited number of transactions while there are more transactions waiting to be in a block (more than the capacity)

[hajimasan]

Yes, obviously its possible to speed up the system of transaction confirmation but it depends on the group of miners who will do the task if more miners start mining with high-end system then there wouldn't be any waiting for transaction confirmation. and these unconfirmed transactions are mainly caused due to span transaction was done to attack the blockchain network.

[TofuLover]

Yes, obviously its possible to speed up the system of transaction confirmation but it depends on the group of miners who will do the task if more miners start mining with high-end system then there wouldn't be any waiting for transaction confirmation. and these unconfirmed transactions are mainly caused due to span transaction was done to attack the blockchain network.

i think that mining system have nothing to do while what needed to solve a block is hashpower from various centralized hashpower source.

[Monnt]

Is possible to upgrade the blockchain technology solving issues like the transactions taking too much time to finish without compromise the currency we have now or without creating a new version devaluing the currently one?

Even I noticed that issue in transaction of blockchain wallet to somewhere. I have forward my campaign income to my parent wallet but it took long time then before. Upgrading the version has to do by blockchain, Once they done with that then we can update on it accordingly.

The transaction time is not really related to the block chain technology it is really related to the miners that have the bitcoin and the fees you pay on transaction, if we want to solve the bitcoin transaction time we have to redefine the whole confirmation system in the blockchain and make it that it is processed automatically.