Scaling solutions, advantages and disadvantages. I won’t take a position on scaling options for a simple reason: I think we will do all of them. SegWit, second layer implements like Lightning Network, increasing the base block size with 4-8 Mb of capacity, Schnorr signatures, Spoonnet. Scaling is not something that is solved once; scaling is a moving target, an aspiration. As you achieve each level of scale, that opens the door for new applications; solving current problems creates the opportunity for new problems. The internet has been failing to scale for 25 years. Email, image attachments, audio, video, high-definition video, livestreaming, holographic virtual reality, etc. We have a system that allows for global transactions, without borders, a level of planetary scale immutability. As soon as we make it faster and cheaper, people will want to put _more_ data on the blockchain. We will reach Visa scale and then surpass Visa scale on an exponential curve. We can never “fix” scaling. All we can do is hope to continue to fail to scale gracefully. Solutions that are technically sensible, maintainable, and don’t violate the core principles of decentralisation. We can change the rules as often as we like, but we should not appoint rulers.
This talk took place on June 6th 2017 at a joint meet-up with Blockchain Professionals, BitcoinSYD and SydEthereum in Sydney, Australia: https://antonopoulos.com/event/blockchain-professionals-sydney/
Why we should worry about optimisation, not scaling – https://youtu.be/J3sEcuCc9fg
The Lightning Network – https://youtu.be/vPnO9ExJ50A
Lightning, full nodes, and miners – https://youtu.be/dlJG4OHdJzs
Bitcoin, Lightning, and Streaming Money – https://youtu.be/gF_ZQ_eijPs
Rules vs. Rulers – https://youtu.be/9EEluhC9SxE
The Scaling Rites of Passage – https://youtu.be/rZi86_ovB3Y
Altcoins and the scaling debate – https://youtu.be/slbpdW-H3yk
Unlimited vs. Cypherpunks – https://youtu.be/5adgo4-32HU
As a bitcoin entrepreneur, Andreas has founded a number of bitcoin businesses and launched several community open-source projects. He is a widely published author of articles and blog posts on bitcoin and is a frequent speaker at technology and security conferences worldwide.
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He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.
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Mastering Bitcoin: Unlocking Digital Cryptocurrencies: http://amzn.to/2tzu4FP
Mastering Ethereum: Building Smart Contracts and Dapps: http://amzn.to/2smthIS
This video was originally published under a creative commons licence by the aantonop YouTube channel on 13 Jun 2017 and can be found here: https://youtu.be/Plu_WX3Gs8E