Here are all the plans bitcoin plans to scale without directly increasing block size
Bitcoin needs to scale. 2017 was not a good year for bitcoin. It lost most of its dominance. Bitcoin core refuses to increase block size for one reason it= less nodes in fact when the 1 mb size was reached it lead to a -6% node. I support core for one reason increasing the block size can't be the way the blockchain scales. I like big blocks but not too big i probably support a max 10 mb block increase for every 10 minutes unlike bitcoin cash idea of 40 mb a minute. yikes.... Might as well have 20 nodes. It been admitted that bigger block size will increase centralization but is bigger the trade off for more users so that the world can be more decentralized than before?
So here are some of the way bitcoin plans on scaling atleast what core wants.
Core plans on adding all of these one day probably by the end of 2018 most/all of these will be included.
Segwit
Learn about it here= https://99bitcoins.com/what-is-segwit-segregated-witness/Schoor signatures
Read more about it here= https://steemit.com/bitcoin/@tipu/the-next-big-thing-in-bitcoin-network-schnorr-signaturesMAST
Learn about it here= https://bitcoinmagazine.com/articles/the-next-step-to-improve-bitcoin-s-flexibility-scalability-and-privacy-is-called-mast-1476388597/Lightning network
Learn more about it here= https://steemit.com/bitcoin/@sames/bitcoin-s-lightning-network-simply-explainedSidechain bitcoin
Reduce stress on bitcoin by creating token backed by bitcoins. Learn more about it here= =https://news.bitcoin.com/5-ways-bitcoins-transferred-sidechain/More to come;some have been only theorized hence why i won't put it on here.
DId you know that bitcoin pow is somewhat actually green. https://steemit.com/mining/@sames/bitcoin-mining-pow-the-truth
Basically since most energy produced is usually lost( due to the fact energy can't be stored efficiently or storing energy costs more than making more energy itself ) bitcoin mining gives another use for this energy preventing it from being wasted and giving it value. Yes not the best but the stats saying bitcoin mining is completely wasteful is not true.
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Yes, BitCoin was certainly created to be flexible, adaptable and all that. But as long as the miners are making more and more money, it will be hard to convince some of the more shortsighted ones that upgrading NOW makes sense for longer term gains. If I were BTC mining and making a killing, I'd be looking into how I could be effective well past 2030! ;)
yeah but these things are a little special nodes only have to turn it on. Bitcoin core realized that miners would not listen to their demands but thanks to nodes protocols bitcoin can expand most nodes are loyal to bitcoin core. Bitcoin is flawed but it will pave the road for the world it accept crypto as a whole
Wow thanks for posting this. Been meaning to read up on scaling. Bothers me that people act like BTC will never be updated and scale...
Thanks i also updated this a little due to spelling errors and i shall be adding a eth scaling plan as well follow if you want to read that as well
Yeah like software can't get updated. Guess they're still using dos.
They have however been to slow to do so. Demand has been growing faster than the scale and that is already causing big issues.
2018 is the year lightning network comes along with sidechains. Whether it is fast enough is the question
Maybe so, but given the demand on the network now, something like that needed to be in place in 2017 or even 2016.
And that is assuming it's even the right thing to do. I guess time will tell
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I personally don't like all the forking. Core needs to do something.
None of these plans require hard forks these are soft forks so any node could use it. Core realized that miners would not listen to their demands but thanks to nodes protocols bitcoin can expand most nodes are loyal to bitcoin core. Bitcoin is flawed but it will pave the road for the world to accept crypto as a whole