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Tuesday, November 14, 2017

Crypto News: Craig Wright Pushes For 1GB Blocks to Attain Visa-Level Bitcoin Scaling

Craig Wright Pushes For 1GB Blocks to Attain Visa-Level Bitcoin Scaling

Nchain is the name of Wright’s company, who bill themselves as “a global leader in research and development of blockchain technologies”. A week ago, Wright published a white paper examining the feasibility of the blockchain being used as a global payment system. In it, he explored speed and scalability, issues which have become pet obsessions of Wright’s.

In a follow-up post published today, Wright hit back at critics who’d found flaws in his research, which he attributed to the fact that “many academics seem to hate Bitcoin”. He wrote:

"What we are finding is that there is a lot of pessimism and open condemnation of the idea that Bitcoin can scale."

Forget 1MB, 2MB, or 8MB block sizes – if Wright has his way, block sizes in the future will be measured in gigabytes. His team have reportedly scaled and tested 340GB blocks. If such a system were ever to implemented on a live network, however, one of the conditions would be the removal of small nodes. Wright claims: “Bitcoin is and was never a home user system, it was designed to end on specialised nodes in datacentres.”


Full story at http://bit.ly/2AFOaSh


Source: Bitcoin News


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