• About
  • FAQ
Newsletter
BlockBar
  • Home
  • About
    • Advertise
    • Contact Us
    • FAQ
    • Sitemap
  • News
    • Blockchain
    • Bitcoin
    • Ethereum
    • Business
    • Guides
  • Bitcoin
  • Blockchain
  • Business
    • Press Release
    • Market
    • Exchanges
    • Regulation
  • Ethereum
  • Press Release
  • Sitemap
No Result
View All Result
  • Home
  • About
    • Advertise
    • Contact Us
    • FAQ
    • Sitemap
  • News
    • Blockchain
    • Bitcoin
    • Ethereum
    • Business
    • Guides
  • Bitcoin
  • Blockchain
  • Business
    • Press Release
    • Market
    • Exchanges
    • Regulation
  • Ethereum
  • Press Release
  • Sitemap
No Result
View All Result
BlockBar
No Result
View All Result
Home Bitcoin

Lighting Co-Author Proposes Code For Bitcoin Scaling Solution

Mayan MV by Mayan MV
June 6, 2019
in Bitcoin
0
Lighting Co-Author Proposes Code For Bitcoin Scaling Solution
193
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

(BlockBar) Co-author of the original paper underpinning bitcoin’s experimental lightning payments network, Tadge Dryja has released a new research paper. The paper is outlining a proposed scaling solution that he’s been working on for the past one year. Released on Monday, Utreexo is set to make the part of bitcoin full nodes called the “state” smaller and easier to run with the help of cryptographic proofs.

Dryja is known for being one of the most prominent technologists behind the “lightning” idea. Through it bitcoin can scale significantly if transactions are pushed to a second layer. Utreexo has a similar motivation and boils down to making bitcoin full nodes easier to run. To be noted, they’re the most secure way of using bitcoin.

Related articles

Monetary Authority of Singapore Warns of New Bitcoin Scam by Forged Statement

Monetary Authority of Singapore Warns of New Bitcoin Scam by Forged Statement

August 1, 2019
2020 Presidential Candidate John McAfee Back in Jail Hours After Release in Dominican Republic

2020 Presidential Candidate John McAfee Back in Jail Hours After Release in Dominican Republic

July 31, 2019

The paper explains “As the number of users of the system increases, the UTXO set grows, and the resource cost of running a node increases. This has led to a progressively smaller proportion of users running their own node as more users rely on light clients or on [third] party nodes to inform them of the state of the network. Nodes using the accumulator need only store a logarithmically sized representation of the UTXO set, greatly reducing storage space and disk seek times.” Dryja has run showing the benefits of the scheme and the paper also reveals the results of simulations. According to him “Since January I’ve implemented more code and made the code public on GitHub, and gotten performance numbers for bitcoin mainnet download sizes.”

By looking at these numbers, a small catch is found there. The proofs data increases the network bandwidth load even though the storage requirements decrease overall. But the paper explains “In our simulations of downloading Bitcoin’s blockchain up to early 2019 with 500MB of RAM allocated for caching, the proofs only add approximately 25% to the amount otherwise downloaded.” Dryja has also noted the code as open source so developers can test out the idea if other developers want to take a look and pick it apart for themselves. He said “It’s not integrated into a wallet yet, which will still take some time, but the library is there for people to try out.”

Mayan MV
Mayan MV

Mayan MV is a passionate writer and cryptocurrency enthusiast. He currently serves as marketing strategist and contributor at BlockBar, based in Singapore. Mayan has started his career in blockchain technology about five years ago, and he has also written over a hundred articles that span across various fields.

Tags: bitcoinbtclightningnetworkscaling
Share77Tweet48

Related Posts

Monetary Authority of Singapore Warns of New Bitcoin Scam by Forged Statement

Monetary Authority of Singapore Warns of New Bitcoin Scam by Forged Statement

by Mo Chou
August 1, 2019
0

The monetary authority of Singapore (MAS) has been alerted to an online bitcoin (BTC) scam that offers bitcoin investments using...

2020 Presidential Candidate John McAfee Back in Jail Hours After Release in Dominican Republic

2020 Presidential Candidate John McAfee Back in Jail Hours After Release in Dominican Republic

by Mo Chou
July 31, 2019
0

According to cointelegraph, bitcoin supporter and 2020 presidential candidate John McAfee returned to prison last week, a day after his...

Deserted Bitcoin will be Liquidated and Transfer ed to Treasury

Deserted Bitcoin will be Liquidated and Transfer ed to Treasury

by Mo Chou
July 29, 2019
0

(BlockBar) The United States will allow the government to liquidate abandoned bitcoins and transfer them to the treasury. If they...

Andrew Yang Accept Lightning-Powered Bitcoin Donation For His 2020 Presidential Election

Andrew Yang Accept Lightning-Powered Bitcoin Donation For His 2020 Presidential Election

by Mo Chou
July 26, 2019
0

(BlockBar) On Thursday, bitcoin supporters backing Andrew Yang, the democratic presidential candidate, launched a cryptography friendly super PAC Humanity Forward...

Bitcoin Price Falls Below $10,000 As Refusal of Libra Project From US Senate Banking Committee

Bitcoin Price Falls Below $10,000 As Refusal of Libra Project From US Senate Banking Committee

by Mo Chou
July 17, 2019
0

(BlockBar) Bitcoin fell below the threshold of $10,000 for the second time this month, after the largest cryptocurrency cut the...

Load More
  • Trending
  • Comments
  • Latest
Andrew Yang Pro Crypto

Presidential Contender, Andrew Yang States Crypto Framework In The U.S. Is Unclear, Unfair

May 17, 2019
Trump’s Advisor Is Urged to Promote Blockchain

Trump’s Advisor Is Urged to Promote Blockchain

June 1, 2019
David Schwartz Defends XRP Over Bitcoin, Drags Into An Online Debate

David Schwartz Defends XRP Over Bitcoin, Drags Into An Online Debate

June 10, 2019
Bitcoin Futures

Vancouver Puts A Ban On Bitcoin ATMs

June 10, 2019

A Major Vulnerability Has Frozen Hundreds Of Millions Of Dollars Of Ethereum

0

China Is Reportedly Moving To Clamp Down On Bitcoin Miners

0

Inside the Chinese Bitcoin Mine That’s Grossing $1.5M a Month

0

All You Need to Know About This Whole SegWit vs. SegWit2x Thing

0
Bakkt Tests Its Bitcoin Future Contracts and Expected to  be Online by September

Bakkt Tests Its Bitcoin Future Contracts and Expected to be Online by September

August 1, 2019
The Importer of Bitmainland Mining Machines is Facing a Criminal Investigation in Russia

The Importer of Bitmainland Mining Machines is Facing a Criminal Investigation in Russia

August 1, 2019
Monetary Authority of Singapore Warns of New Bitcoin Scam by Forged Statement

Monetary Authority of Singapore Warns of New Bitcoin Scam by Forged Statement

August 1, 2019
Ripple Asks US Congress to  Treat Cryptocurrency Industry Fairly

Ripple Asks US Congress to Treat Cryptocurrency Industry Fairly

July 31, 2019

BlockBar




Blockbar specializes in blockchain and cryptocurrency related reports, and our goal is to become the world’s leading news gateway for blockchain cryptocurrencies.





News Categories

  • Banking
  • Bitcoin
  • Blockchain
  • Business
  • Education
  • Ethereum
  • Exchanges
  • Guide
  • Market
  • News
  • Opinion
  • Politics
  • Press Release
  • Regulation
  • Reviews
  • Security

Got a tip? Feel free to let us know!

Newsletter

  • About
  • FAQ
  • Contact Us

© 2019 BlockBar. All Rights Reserved.

John Danie
John Danie

John Danie is a highly experienced marketing strategist and businessman in the blockchain industry who likes the pace of the development of cryptocurrency, especially in blockchain technology where it can move so fast. Being a fintech writer and crypto reporter with a fascination for tech and a passion for starting interesting conversations, he seeks to create authentic news stories in the industry.

No Result
View All Result
  • Home
  • About
    • Advertise
    • Contact Us
    • FAQ
    • Sitemap
  • News
    • Blockchain
    • Bitcoin
    • Ethereum
    • Business
    • Guides
  • Bitcoin
  • Blockchain
  • Business
    • Press Release
    • Market
    • Exchanges
    • Regulation
  • Ethereum
  • Press Release
  • Sitemap

© 2019 BlockBar. All Rights Reserved.