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Categories: Epicenter Bitcoin

EB103 - Emin Gün Sirer & Ittay Eyal: Bitcoin-NG, Scientists Versus The Church

Published on November 2nd, 2015 by epicenterbitcoin


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One of the concerns confronting the Bitcoin community is that of scaling the transaction throughput rate: How do we go from the current rate of approx. 5 transactions per second to a thousand times that?

In this episode, we talk to Emin Gun Sirer and Ittay Eyal from Cornell University regarding Bitcoin NG; a next generation Bitcoin blockchain design that addresses some protocol based limitations preventing Bitcoin from increasing transaction throughput.

Their proposal also enables fast (initial) transaction confirmations on the order of 10-20 seconds.

Topics covered include:

  • Metrics to measure the security and fairness properties of Nakamoto consensus as implemented in Bitcoin.
  • A network emulation of Bitcoin designed by their team to study properties of Bitcoin network.
  • Technical design of Bitcoin NG
  • Concerns with Bitcoin NG
  • Impact of Bitcoin NG on various stakeholders if it is adopted in the main Bitcoin network.

Links mentioned in this episode:

Sponsors:

  • Ledger Nano: Smart card security for your Bitcoins - Get 10% off your first order when you use the code EB09 at ledgerwallet.com (valid until 09/30/15)
  • Hide.me: Protect your privacy and personal data with a free VPN account at Hide.me/epicenter

Show notes

SoundCloud

Epicenter Bitcoin is hosted by Brian Fabian Crain, Sébastien Couture and Meher Roy.

Views: 40,922


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