Topic: "Innovative methods or technologies" - page 2. (Read 282 times)

The issue with transaction charges, maybe later it implementation of the increase on block size will not be a threat anymore to bitcoin users from having an increasing transaction fee rate, people want to experience the lowest and possible least rate for making bitcoin transactions and this will be their utmost desire in using this decentralized currency when they found out that its the least or one of the least that has lower cost of making transactions in cryptocurrency.

First, thanks for the question, and it's very interesting of course. I think the scalability, security, core principles of decentralization and environmental issues in the Bitcoin ecosystem and those four aspects are also things that we should know together both the progress and development of this innovative technology and I think the benefits are not only for the Bitcoiner community but the direction is towards sustainable adoption.

Yes.  The four aspects that you conveyed are also basic foundations in the ecosystem and  if see BTC price up generally sound  the problem is always in high fees due to the increasing number of users and transactions and of course and this is also considered quite troublesome also for users. Well, for other advanced aspects I think the efforts that have been seen now are like there are Layer 2 Solutions such as Lightning Network,  There are continuing efforts to optimize Block Size and Transaction Throughput as well as Sustainable Mining Practices. But from what I've written, it's most likely just a general, but at least that's what I've known and been following for this time.

as for bitcoin innovations for bitcoiners benefit
bitcoins never leave the bitcoin network,, FACT
so silly idea's that innovating bitcoin involves tricks to get people to abandon using the bitcoin network as being innovative, are laughable
subnetworks that dont use blockchains are old tech, old idea's not new (the cypherpunks were playing with those old idea's even before bitcoins invention)

bitcoin network needs to scale. and by this i do not mean the idiot echo chamber narrative of bitcoin being a dystopian one world currency needing to cover ~300k tx a second for the entire worlds currency usage of all currencies in one

the reality is much more scalable..
things like code(which bitcoin is) that:

* formulates ways to punish only the bloating spam creators. to cause them to not be using as much space per block, to then allow more genuine transactions to confirm sooner by being added into the space that spammers/bloaters took up

*creates transactions that are leaner than the current average of 1kb (4k tx/4mb block=1kb per tx average). transactions that can be less than a quarter of current averages can multiply the amount per block allowed

*re-utilising the 4mb space as true 4mb for the main tx data, without the metadata junk of the 1mb base:3mb cludgy miscount segregation
this also can increase the transaction count

*and then the blocksize increase, does not need to leap to obsurd amounts narrated by idiots. but instead progressively grow, this can be done without dev politics need of involvement deciding how much and when, but instead using code to read blockdata and at certain milestones all nodes react and change the amounts allowed...  (much like hashrate difficulty does not need dev political input per fortnight, the nodes work it out themselves via blockdata)

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the current lineup of subnetworks fail many tests of security, autonomy, meeting their objectives,
there will be future subnetworks yet to be made from scratch that will fill niche needs of temporary services.. but without the presumption that everyone should abandon using bitcoin and be locked into those niche subnetworks for long periods

I'm not up to date with the stuff that's going to be invented or created with the help or the inspiration of bitcoin or bitcoin related tech but I do know for sure that we're going to see more people trying to create their own cryptocurrency that want to deviate from how bitcoin moves in the market because most of the time, altcoins are following the market movement of bitcoin and so it becomes predictable. Another thing that could happen would be more people trying to make technology that involves bitcoin or anything like that, probably a better mining rig that can outperform the current one that most miners got, hell we might even see a rig that you can plug to your computer and mine bitcoins for you.

bitcoin mining devices do not see nor care whats inside a block.. an asic just hashes a hash..
a block can be empty or hold thousands of transactions, and neither end affects the mining chore/work/function

so transaction scaling is not going to cause environmental disaster

as for the separate issue of speaking about only the mining function done by asics
well compared to hashes per second of CPU, asics have already made advances in innovated methods to achieve more hashes for less power per hash

as for speaking about renewable sources of energy. this is not a issue of bitcoins cause, but an issue of a countries own power companies that need to change their own business models per power company/power plant. infact its electric vehicles making energy demands at random times of day in bursts of 70kwh in 20minutes that will cause more power impacts, compared to bitcoins predictable power utilisation

bitcoin miners have a predictable rate of usage
EG 24/7 3.5kwh at x asics per location.. which can be calculated and predicted for the 2 year lifespan of those asics
and so asic farms can have payment contracts drawn to buy power in allotments to cover that 2 year period

ev cars however use 70kw+ per full battery but charge at random times of day/week in short sharp surges. unpredictably

last thing to note. there are less asics on the planet than there are EV cars. so it will be the car industry that will impact power demand, power surge and brown out risk possibilities, so they need to get involved more in the innovation of power supply companies

Not sure about it though, there are L2 solutions already in place. And as much as we like to see changes in Bitcoin, core developers will have to come up with consensus and it's not going to be easy.

For environmental sustainability, it's not Bitcoin per se, but those who produces mining hardware and what renewable sources this miners are going to used as this is one attacks that anti-Bitcoin is when they try to picture it as the one hurting the environment as it consumes a lot of energy for mining.

Over the next decade, Bitcoin aims to handle more transactions efficiently and reduce its environmental impact, keeping its commitment to decentralization and security.
There will be the help of layer-2 solutions and adopting greener mining technologies.
These steps are expected to make Bitcoin, more sustainable, and securely future-proof. Just my 2 cents.

In the coming decade, we're likely to see some cool new tricks and tech pop up in the Bitcoin world to make it faster, greener and more efficient all while keeping it decentralized and secure. Theres a talk of exploring different consensus mechanisms, like proof-of-stake, to cut down on energy use. And let's not forget about other tech like sharding and sidechains which could also help with scalability while being eco-friendly. It's an exciting time for Bitcoin and there's no shortage of smart minds working on ways to make it better for everyone

What innovative methods or technologies do you foresee emerging within the Bitcoin ecosystem over the next decade to enhance both its scalability and environmental sustainability, while maintaining its core principles of decentralization and security?

I truly appreciate your feedback!