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Relevant XKCD, https://xkcd.com/927/ https://xkcd.com/927/ Bitcoin is scaling rapidly with higher layer development. The foundational blockchain layer is simpl

Relevant XKCD, https://xkcd.com/927/ https://xkcd.com/927/ Bitcoin is scaling rapidly with higher layer development. The foundational blockchain layer is simple but rock solid and expressive enough to allow for some incredibly creative development, like the lightning network. Projects like https://www.rsk.co/ https://www.rsk.co/ are attempting to bring ethereum like smart contracting to bitcoin's second layer. Don't fall into the trying to build a new TCP/IP because alternative protocols are somewhat better. Once network effects take over, alternatives don't just need to be marginally better to supplant the dominant network. They need to be several orders of magnitude better.

Tepix 4y ago
Does xkcd apply here? It's not like there haven't been huge advances covering most, if not all of the aspects that are holding bitcoin back today. > Bitcoin is scaling rapidly with higher layer development. ... > Don't fall into the trying to build a new TCP/IP because alternative protocols are somewhat better. Scaling Bitcoin with higher layers is like tunneling IPv6 over IPv4 even if you could just deploy IPv6 directly. There's the huge waste environmental problem. And even Bitcoins consensus safety (51%) is bested by more recent advances in algorithms. Why hold on?