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From: Sergio Demian Lerner <sergio.d.lerner@gmail.com>
Date: Wed, 14 Oct 2015 15:14:08 -0300
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Cc: bitcoin-dev <bitcoin-dev@lists.linuxfoundation.org>,
Ittay Eyal <ittay.eyal@cornell.edu>
Subject: Re: [bitcoin-dev] Bitcoin-NG whitepaper.
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I'm reading it.
First comment: since a Bitcoin block time is only greater than the median
of the last 11 blocks, a miner could choose the key block time in order to
generate about 400 miniblocks, instead of the average 60 blocks. Not very
bad, but should be taken into account.
On Wed, Oct 14, 2015 at 3:02 PM, Emin G=C3=BCn Sirer <
bitcoin-dev@lists.linuxfoundation.org> wrote:
> Hi everyone,
>
> We just released the whitepaper describing Bitcoin-NG, a new technique fo=
r
> addressing some of the scalability challenges faced by Bitcoin.
> Surprisingly, Bitcoin-NG can simultaneously increase throughput while
> reducing latency, and do so without impacting Bitcoin's open architecture
> or changing its trust model. This post illustrates the core technique:
> http://hackingdistributed.com/2015/10/14/bitcoin-ng/
> while the whitepaper has all the nitty gritty details:
> http://arxiv.org/abs/1510.02037
>
> Fitting NG on top of the current Bitcoin blockchain is future work that w=
e
> think is quite possible. NG is compatible with both Bitcoin as is, as wel=
l
> as Blockstream-like sidechains, and we currently are not planning to
> compete commercially with either technology -- we see NG as being
> complementary to both efforts. This is pure science, published and shared
> with the community to advance the state of blockchains and to help them
> reach throughputs and latencies required of cutting edge fintech
> applications. Perhaps it can be adopted, or perhaps it can provide the
> spark of inspiration for someone else to come up with even better solutio=
ns.
>
> We would be delighted to hear your feedback.
> - Ittay Eyal and E. G=C3=BCn Sirer.
>
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
>
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<div dir=3D"ltr">I'm reading it.<div><br></div><div>First comment: sinc=
e a Bitcoin block time is only greater than the median of the last 11 block=
s, a miner could choose the key block time in order to generate about 400 m=
iniblocks, instead of the average 60 blocks. Not very bad, but should be ta=
ken into account.</div><div><br></div><div><br></div><div><br></div></div><=
div class=3D"gmail_extra"><br><div class=3D"gmail_quote">On Wed, Oct 14, 20=
15 at 3:02 PM, Emin G=C3=BCn Sirer <span dir=3D"ltr"><<a href=3D"mailto:=
bitcoin-dev@lists.linuxfoundation.org" target=3D"_blank">bitcoin-dev@lists.=
linuxfoundation.org</a>></span> wrote:<br><blockquote class=3D"gmail_quo=
te" style=3D"margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"=
><div dir=3D"ltr">Hi everyone,<div><br></div><div>We just released the whit=
epaper describing Bitcoin-NG, a new technique for addressing some of the sc=
alability challenges faced by Bitcoin. Surprisingly, Bitcoin-NG can simulta=
neously increase throughput while reducing latency, and do so without impac=
ting Bitcoin's open architecture or changing its trust model. This post=
illustrates the core technique:</div><div>=C2=A0 =C2=A0 =C2=A0<a href=3D"h=
ttp://hackingdistributed.com/2015/10/14/bitcoin-ng/" target=3D"_blank">http=
://hackingdistributed.com/2015/10/14/bitcoin-ng/</a></div><div>while the wh=
itepaper has all the nitty gritty details:</div><div>=C2=A0 =C2=A0 =C2=A0<a=
href=3D"http://arxiv.org/abs/1510.02037" target=3D"_blank">http://arxiv.or=
g/abs/1510.02037</a></div><div><br></div><div>Fitting NG on top of the curr=
ent Bitcoin blockchain is future work that we think is quite possible. NG i=
s compatible with both Bitcoin as is, as well as Blockstream-like sidechain=
s, and we currently are not planning to compete commercially with either te=
chnology -- we see NG as being complementary to both efforts. This is pure =
science, published and shared with the community to advance the state of bl=
ockchains and to help them reach throughputs and latencies required of cutt=
ing edge fintech applications. Perhaps it can be adopted, or perhaps it can=
provide the spark of inspiration for someone else to come up with even bet=
ter solutions.</div><div><br></div><div>We would be delighted to hear your =
feedback.=C2=A0</div><div>- Ittay Eyal and E. G=C3=BCn Sirer.</div><div><br=
></div></div>
<br>_______________________________________________<br>
bitcoin-dev mailing list<br>
<a href=3D"mailto:bitcoin-dev@lists.linuxfoundation.org">bitcoin-dev@lists.=
linuxfoundation.org</a><br>
<a href=3D"https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev" =
rel=3D"noreferrer" target=3D"_blank">https://lists.linuxfoundation.org/mail=
man/listinfo/bitcoin-dev</a><br>
<br></blockquote></div><br></div>
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