From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 72ACB259 for ; Mon, 9 Nov 2015 18:33:49 +0000 (UTC) X-Greylist: whitelisted by SQLgrey-1.7.6 Received: from mail-qg0-f49.google.com (mail-qg0-f49.google.com [209.85.192.49]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 3CC92142 for ; Mon, 9 Nov 2015 18:33:48 +0000 (UTC) Received: by qgad10 with SMTP id d10so151091513qga.3 for ; Mon, 09 Nov 2015 10:33:47 -0800 (PST) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20120113; h=mime-version:in-reply-to:references:from:date:message-id:subject:to :cc:content-type; bh=eIvcLHti1pBMz4alyA8BHwEPMEdDHCXHDziKvZnRckA=; b=Ojf9p5lkgsbEpbkhXPcgh8vSxt9dcUTTrCcdEPfeVoSW9t/brLIDD2pg7v9IH09vtj ZO4Oij10wVIIuhm4ROOYa9wRykxHgSxvWKUZ06SOBpuBMa46kaMAokOXDaPrIW2WuLBa IeYeBlJcrW3Jv9E0V3RdpA+xvU3LPvS76Gg8FGYfomD755NxMwSIRjxdKjhsT7F+LEz8 WMe5Pb+5smuhxBnRX8PZ1l3HsUiGiYybVylAJB3DC/hZltltryTtblp6elnoFT3ku34o Yt+pDDBHJMTYUJqDQ1JbO+uAmQMJpYBe+qoj6l4x/k9yfcJoI7EbXKWjbeBbBpNtmMTh RYuA== X-Received: by 10.141.23.20 with SMTP id z20mr33411798qhd.52.1447094027446; Mon, 09 Nov 2015 10:33:47 -0800 (PST) MIME-Version: 1.0 Received: by 10.140.19.132 with HTTP; Mon, 9 Nov 2015 10:33:27 -0800 (PST) In-Reply-To: References: From: =?UTF-8?Q?Emin_G=C3=BCn_Sirer?= Date: Mon, 9 Nov 2015 13:33:27 -0500 Message-ID: To: bitcoin-dev@lists.linuxfoundation.org Content-Type: multipart/alternative; boundary=001a11423c807671be05241fd53a X-Spam-Status: No, score=-2.7 required=5.0 tests=BAYES_00,DKIM_SIGNED, DKIM_VALID,DKIM_VALID_AU,FREEMAIL_FROM,HTML_MESSAGE,RCVD_IN_DNSWL_LOW autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org X-Mailman-Approved-At: Mon, 09 Nov 2015 19:03:01 +0000 Cc: Ittay Eyal Subject: Re: [bitcoin-dev] Bitcoin-NG whitepaper. X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Development Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Mon, 09 Nov 2015 18:33:49 -0000 --001a11423c807671be05241fd53a Content-Type: text/plain; charset=UTF-8 Content-Transfer-Encoding: quoted-printable Hi everyone, Thanks to everyone for a very friendly and scientifically-oriented discussion. We have collated all the issues that have been raised related to NG, and placed them in context, here: http://hackingdistributed.com/2015/11/09/bitcoin-ng-followup/ Overall, NG has a unique insight: turning the block creation process upside down can provide many benefits. Most notably, throughput can go as high as the network will allow, providing scalability benefits that increase as the network improves. There are many other side benefits, including fast confirmations that are stronger than 0-conf in Core, and come much more quickly than Core's 1-confirmations. And there are ancillary benefits as well, such as resilience to fluctuations in mining power, and healthier incentives for participants to ferry transactions. We believe that a fresh new permission-less blockchain protocol, designed today, would end up looking more like NG than Core. Of course, if NG could possibly be layered on top of Bitcoin, that would be the ultimate combination. Many thanks for an interesting discussion, and as always, we're happy to hear constructive suggestions and feedback, - egs On Wed, Oct 14, 2015 at 2:02 PM, Emin G=C3=BCn Sirer wrote: > Hi everyone, > > We just released the whitepaper describing Bitcoin-NG, a new technique fo= r > addressing some of the scalability challenges faced by Bitcoin. > Surprisingly, Bitcoin-NG can simultaneously increase throughput while > reducing latency, and do so without impacting Bitcoin's open architecture > or changing its trust model. This post illustrates the core technique: > http://hackingdistributed.com/2015/10/14/bitcoin-ng/ > while the whitepaper has all the nitty gritty details: > http://arxiv.org/abs/1510.02037 > > Fitting NG on top of the current Bitcoin blockchain is future work that w= e > think is quite possible. NG is compatible with both Bitcoin as is, as wel= l > as Blockstream-like sidechains, and we currently are not planning to > compete commercially with either technology -- we see NG as being > complementary to both efforts. This is pure science, published and shared > with the community to advance the state of blockchains and to help them > reach throughputs and latencies required of cutting edge fintech > applications. Perhaps it can be adopted, or perhaps it can provide the > spark of inspiration for someone else to come up with even better solutio= ns. > > We would be delighted to hear your feedback. > - Ittay Eyal and E. G=C3=BCn Sirer. > > --001a11423c807671be05241fd53a Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable
Hi everyone,

Thanks to everyone for a very friendly and scientifically-oriented d= iscussion. We have collated all the issues that have been raised related to= NG, and placed them in context, here:

Overall, NG has a uni= que insight: turning the block creation process upside down can provide man= y benefits. Most notably, throughput can go as high as the network will all= ow, providing scalability benefits that increase as the network improves. T= here are many other side benefits, including fast confirmations that are st= ronger than 0-conf in Core, and come much more quickly than Core's 1-co= nfirmations. And there are ancillary benefits as well, such as resilience t= o fluctuations in mining power, and healthier incentives for participants t= o ferry transactions. We believe that a fresh new permission-less blockchai= n protocol, designed today, would end up looking more like NG than Core. Of= course, if NG could possibly be layered o= n top of Bitcoin, that would be the ultimate combination.

Many thanks for an interesting discussion, a= nd as always, we're happy to hear constructive suggestions and feedback= ,
- egs


On Wed, Oct 14, 2015 at 2:02 PM, Emin G=C3=BCn Sirer <el33th4= x0r@gmail.com> wrote:
Hi everyone,

We just released the whitepaper= describing Bitcoin-NG, a new technique for addressing some of the scalabil= ity challenges faced by Bitcoin. Surprisingly, Bitcoin-NG can simultaneousl= y increase throughput while reducing latency, and do so without impacting B= itcoin's open architecture or changing its trust model. This post illus= trates the core technique:
while the whitepap= er has all the nitty gritty details:

Fitting NG on top of the current B= itcoin blockchain is future work that we think is quite possible. NG is com= patible with both Bitcoin as is, as well as Blockstream-like sidechains, an= d we currently are not planning to compete commercially with either technol= ogy -- we see NG as being complementary to both efforts. This is pure scien= ce, published and shared with the community to advance the state of blockch= ains and to help them reach throughputs and latencies required of cutting e= dge fintech applications. Perhaps it can be adopted, or perhaps it can prov= ide the spark of inspiration for someone else to come up with even better s= olutions.

We would be delighted to hear your feedb= ack.=C2=A0
- Ittay Eyal and E. G=C3=BCn Sirer.


--001a11423c807671be05241fd53a--