27 Dec '16, 8pm

Trusted Hardware Can Help Bitcoin Scale, But At What Cost?

Trusted Hardware Can Help Bitcoin Scale, But At What Cost?

As 2016 comes to a close, bitcoin development remains at a crossroads. Take the long-anticipated scaling solution, the Lightning Network . An open-source project that aims to boost bitcoin's capacity to millions of transactions per second (and by extension the technology's value), it's code is nearly ready to go live. Yet, bitcoin isn't exactly ready for the change. While some form of the Lightning Network is possible to deploy today, the technical change that could pave the way for an improved version still needs near-unanimous support from miners and users or it won’t activate. (For now, miner hashrate signaling has plateaued at about 25%, far from the necessary 95%). This bottleneck has lead some researchers to begin exploring other options for getting Lightning-style payment channels off the ground. One new idea, Teechan, comes from Initiative For CryptoCurrencies & Co...

Full article: http://www.coindesk.com/trusted-hardware-can-help-bitcoin...

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via @qz

via @qz

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