4 ms·

What is the max tx/s speed? Still no consensus???

by ented 9y ago

VMG 9y ago
With segwit, you can use http://lightning.network http://lightning.network. Lightning network gives you essentially unlimited transaction speed.
- spiralx 9y ago
  Which doesn't actually exist yet, and doesn't solve the problem even theoretically: https://medium.com/@jonaldfyookball/mathematical-proof-that-the-lightning-network-cannot-be-a-decentralized-bitcoin-scaling-solution-1b8147650800 https://medium.com/@jonaldfyookball/mathematical-proof-that-...
  - VMG 9y ago
    The blog author and you need to learn about lighting network and graph theory. Edit: responses to the specific "proof" you linked https://medium.com/@murchandamus/i-have-just-read-jonald-fyookballs-article-https-medium-com-jonaldfyookball-mathematical-fd112d13737a https://medium.com/@murchandamus/i-have-just-read-jonald-fyo... https://medium.com/@murchandamus/some-subsidiary-points-on-lightning-network-cc68bc81d6f1 https://medium.com/@murchandamus/some-subsidiary-points-on-l...
    - spiralx 9y ago
      That's just a lot of hand-waving, if the author is so confident about his rebuttal he should be able to provide a model for it. This person did at least attempt to simulate something along the lines of an ideal LN, which showed that micropayments do not do very well at all due to the combination of fees accrued at each hop: https://hackernoon.com/simulating-a-decentralized-lightning-network-with-10-million-users-9a8b5930fa7a https://hackernoon.com/simulating-a-decentralized-lightning-... This thread on the same story discusses other issues with LN proposals, one that stands out to me is how routing is going to work if all nodes are perfectly equal - routing on the internet relies on a hub model, seems likely that a decentralised routing protocol adds even more complexity and resource requirements. https://news.ycombinator.com/item?id=14759965 https://news.ycombinator.com/item?id=14759965 The trouble of course is that LN is just a bunch of proposals right now, each promising to fix all of Bitcoin's issues without removing all of its unique features. When it actually exists then I'll revisit, but until then I'll treat it as another piece of vapourware.
      - VMG 9y ago
        > The trouble of course is that LN is just a bunch of proposals right now, There are multiple implementations of the spec.
  - deleted 9y ago
    [deleted]

What is the max tx/s speed? Still no consensus???

by ented 9y ago

What is the max tx/s speed? Still no consensus???

VMG 9y ago

With segwit, you can use http://lightning.network http://lightning.network. Lightning network gives you essentially unlimited transaction speed.

spiralx 9y ago
Which doesn't actually exist yet, and doesn't solve the problem even theoretically: https://medium.com/@jonaldfyookball/mathematical-proof-that-the-lightning-network-cannot-be-a-decentralized-bitcoin-scaling-solution-1b8147650800 https://medium.com/@jonaldfyookball/mathematical-proof-that-...
- VMG 9y ago
  The blog author and you need to learn about lighting network and graph theory. Edit: responses to the specific "proof" you linked https://medium.com/@murchandamus/i-have-just-read-jonald-fyookballs-article-https-medium-com-jonaldfyookball-mathematical-fd112d13737a https://medium.com/@murchandamus/i-have-just-read-jonald-fyo... https://medium.com/@murchandamus/some-subsidiary-points-on-lightning-network-cc68bc81d6f1 https://medium.com/@murchandamus/some-subsidiary-points-on-l...
  - spiralx 9y ago
    That's just a lot of hand-waving, if the author is so confident about his rebuttal he should be able to provide a model for it. This person did at least attempt to simulate something along the lines of an ideal LN, which showed that micropayments do not do very well at all due to the combination of fees accrued at each hop: https://hackernoon.com/simulating-a-decentralized-lightning-network-with-10-million-users-9a8b5930fa7a https://hackernoon.com/simulating-a-decentralized-lightning-... This thread on the same story discusses other issues with LN proposals, one that stands out to me is how routing is going to work if all nodes are perfectly equal - routing on the internet relies on a hub model, seems likely that a decentralised routing protocol adds even more complexity and resource requirements. https://news.ycombinator.com/item?id=14759965 https://news.ycombinator.com/item?id=14759965 The trouble of course is that LN is just a bunch of proposals right now, each promising to fix all of Bitcoin's issues without removing all of its unique features. When it actually exists then I'll revisit, but until then I'll treat it as another piece of vapourware.
    - VMG 9y ago
      > The trouble of course is that LN is just a bunch of proposals right now, There are multiple implementations of the spec.
- deleted 9y ago
  [deleted]