Bitcoin scalability news

Path to Bithcoin scalability has been firming up:

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Q&A related to Bitcoin capacity increases planned in 2016:
So much for “Bitcoin doesn’t scale”… I hate to copy and paste (i.e. duplicate) content but because the link isn’t showing content from there, I’ll copy and paste some key points. More at the link above.

  • Segregated witness testnet: a separate testnet (not part of the regular testnet) that provides an opportunity for Bitcoin Core contributors to test segregated witness and for wallet authors to begin working with it.

  • Libsecp256k1 verification: 500% to 700% speed boost on x86_64 hardware during verification to help new full nodes join the network and to lighten the burden on existing nodes.

  • OP_CHECKSEQUENCEVERIFY: 25,000% improvement in bi-directional payment channel efficiency by allowing users to keep channels open as long as they want.

  • VersionBits: increase the maximum number of soft forks able to be deployed simultaneously from 1 to 29, allowing for faster and more decentralized future upgrades of the network.

  • Segregated witness: 175% to 400% direct capacity upgrade, 66% additional improvement in bi-directional channel efficiency by consolidating channel open and close operations, an end to third-party malleability that hurts smart contract deployment, fraud proofs to allow lightweight clients to better participate in economic enforcement, and ability to more easily upgrade Bitcoin’s Script language so that new and more powerful trustless contracts may be devised.

  • IBLTs and weak blocks: 90% or more reduction in critical bandwidth to relay blocks created by miners who want their blocks to propagate quickly with a modest increase in total bandwidth, bringing many of the benefits of the Bitcoin Relay Network to all full nodes. This improvement is accomplished by spreading bandwidth usage out over time for full nodes, which means IBLT and weak blocks may allow for safer future increases to the max block size.

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