Topic: Project Genesis - a project to redecentralise Bitcoin - page 2. (Read 344 times)
The foundation will also help to fund projects in the space through a non profit. Hopefully providing devs a way to grow the protocol and support themselves.
Project Genesis
This project will be to bring back the innovation and progress and decentralise the most centralized part of the network that Bitcoin currently has. It is not the miners. It is not the exchanges it is the development and client. There should not be a reference implementation as it moves vulnerabilities from being client vulnerabilities to network vulnerabilities. We aim to create an environment that values security and transparency and promote openness and progress as the core purposes. Problems like block limit have been pushed by companies to further their own projects and closed door meetings decide the network protocol. The developers were unable to have segwit included alone and were losing market to Bitcoin unlimited. After closed door meetings they negotiated for segwit 2x. This too was gone back on after they got what they wanted causing fees to hit huge amounts. Censorship resistance is the most important part of the network and high fees censor the people that have the most need for the revolution that this technology provides. We rely on projects that may not deliver that have only been pushed back and forks pulling away rather than trying to bring people under the united purpose we all share of an open financial system. We will not fork. We will not negotiate behind closed doors. We will make Bitcoin into what it was made to be. Bitcoin: A Peer-to-Peer Electronic Cash System
Aims
Formal spec for the Bitcoin protocol and consensus
More client diversity and implementations
Open and transparent foundation for development and adoption
Node architecture for archival full light and spv
Open standards and interoperability
More flexible and powerful scripting capabilities
Full review of the current implementation and the current optimal network state
Flexible and dynamic block limit and research into both on and off chain solutions
Just getting thoughts on this for now.
This project will be to bring back the innovation and progress and decentralise the most centralized part of the network that Bitcoin currently has. It is not the miners. It is not the exchanges it is the development and client. There should not be a reference implementation as it moves vulnerabilities from being client vulnerabilities to network vulnerabilities. We aim to create an environment that values security and transparency and promote openness and progress as the core purposes. Problems like block limit have been pushed by companies to further their own projects and closed door meetings decide the network protocol. The developers were unable to have segwit included alone and were losing market to Bitcoin unlimited. After closed door meetings they negotiated for segwit 2x. This too was gone back on after they got what they wanted causing fees to hit huge amounts. Censorship resistance is the most important part of the network and high fees censor the people that have the most need for the revolution that this technology provides. We rely on projects that may not deliver that have only been pushed back and forks pulling away rather than trying to bring people under the united purpose we all share of an open financial system. We will not fork. We will not negotiate behind closed doors. We will make Bitcoin into what it was made to be. Bitcoin: A Peer-to-Peer Electronic Cash System
Aims
Formal spec for the Bitcoin protocol and consensus
More client diversity and implementations
Open and transparent foundation for development and adoption
Node architecture for archival full light and spv
Open standards and interoperability
More flexible and powerful scripting capabilities
Full review of the current implementation and the current optimal network state
Flexible and dynamic block limit and research into both on and off chain solutions
Just getting thoughts on this for now.
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