Thursday, December 1, 2022

How to Scale Bitcoin and Cryptocurrencies at the Network Layer, With Emin Gün Sirer

How to Scale Bitcoin and Cryptocurrencies at the Network Layer, With Emin Gün Sirer

Even Bitcoin Cash will face scaling issues someday if it becomes as popular as its proponents want — but there are ways to deal with that at every layer of the protocol, even the network layer, says Cornell University Computer Science professor Emin Gün Sirer. 

Also see: Bitcoin Cash Gives Devs More Freedom, Say Bitcoin Unlimited’s Andrew Stone and Peter Rizun

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Emin Gün Sirer: How Much Should We Scale, and Where?

It’s easy (and a bit superficial) to break down the main differences between the Bitcoin (BTC) and Bitcoin Cash (BCH) camps into a preference for off-chain or on-chain scaling. But that’s not necessarily true, and even Lightning Network isn’t the only “layer two” scaling solution out there.

In this video interview, Sirer explains how Bitcoin (and other cryptocurrencies) are structured with a network layer, consensus layer, presentation layer and applications. He gives a summary of his presentation at Satoshi’s Vision in Tokyo about scaling at the network layer, which he calls “the forgotten kid” of the Bitcoin protocol stack. Focusing on bits moving round the network layer can offer even more exciting solutions, he says.

Sirer supports BCH’s increase of the transaction block size but also agrees with Bitcoin Core’s position that you shouldn’t make them arbitrarily large. That makes him something of a novelty in the polarized Bitcoin ideological space, and also someone well worth listening to. Watch the interview above to get a better idea, and you can also check out his entire presentation at the conference.

What’s Satoshi’s Vision All About?

Satoshis Vision Background

The March 2018 Satoshi’s Vision Conference in Tokyo is the third of its kind — but the first to take place since the hard fork that separated Bitcoin (BTC) and Bitcoin Cash (BCH).

Previous events were the single-day Satoshi’s Vision San Francisco in September 2016 and the two-day Future of Bitcoin event in Arnhem, Netherlands in June 2017.

Presented by Bitcoin Unlimited, these conferences focus on technical and academic research into making Bitcoin a scalable and spendable currency that offers a viable alternative to today’s fiat currencies in daily life. It’s not just “buying a coffee with crypto” — it looks to a future where money itself has intelligence, and is used by humans and machines to create a new kind of economy that’s still being conceived.

Are you following any of the presenters at Satoshi’s Vision? Lets hear your thoughts in the comments.

Video and images via Jon Southurst

Bitsonline is an official Media Partner for the Satoshi’s Vision Conference in Tokyo.

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