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From: =?UTF-8?Q?Emin_G=C3=BCn_Sirer?= <el33th4x0r@gmail.com>
Date: Mon, 9 Nov 2015 13:33:27 -0500
Message-ID: <CAPkFh0vQ=c+r1e+UBpCL0B-nbytzvUW3x=5Chuo=8-Ywdfcr_A@mail.gmail.com>
To: bitcoin-dev@lists.linuxfoundation.org
Content-Type: multipart/alternative; boundary=001a11423c807671be05241fd53a
Cc: Ittay Eyal <ittay.eyal@cornell.edu>
Subject: Re: [bitcoin-dev] Bitcoin-NG whitepaper.
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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 <el33th4x0r@gmail.com>
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.
>
>

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<div dir=3D"ltr">Hi everyone,<div><br></div><div><span style=3D"font-size:1=
2.8px">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:</span><br></div><div><div style=3D"f=
ont-size:12.8px">=C2=A0 =C2=A0=C2=A0<a href=3D"http://hackingdistributed.co=
m/2015/11/09/bitcoin-ng-followup/" target=3D"_blank">http://hackingdistribu=
ted.com/2015/11/09/bitcoin-ng-followup/</a></div></div><div style=3D"font-s=
ize:12.8px"><br></div><div style=3D"font-size:12.8px">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&#39;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, i<span style=3D"font-size:12.8px">f NG could possibly be layered o=
n top of Bitcoin, that would be the ultimate combination.</span></div><div =
style=3D"font-size:12.8px"><br>Many thanks for an interesting discussion, a=
nd as always, we&#39;re happy to hear constructive suggestions and feedback=
,<br></div><div style=3D"font-size:12.8px">- egs</div><div style=3D"font-si=
ze:12.8px"><br></div></div><div class=3D"gmail_extra"><br><div class=3D"gma=
il_quote">On Wed, Oct 14, 2015 at 2:02 PM, Emin G=C3=BCn Sirer <span dir=3D=
"ltr">&lt;<a href=3D"mailto:el33th4x0r@gmail.com" target=3D"_blank">el33th4=
x0r@gmail.com</a>&gt;</span> wrote:<br><blockquote class=3D"gmail_quote" st=
yle=3D"margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div =
dir=3D"ltr">Hi everyone,<div><br></div><div>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&#39;s open architecture or changing its trust model. This post illus=
trates the core technique:</div><div>=C2=A0 =C2=A0 =C2=A0<a href=3D"http://=
hackingdistributed.com/2015/10/14/bitcoin-ng/" target=3D"_blank">http://hac=
kingdistributed.com/2015/10/14/bitcoin-ng/</a></div><div>while the whitepap=
er has all the nitty gritty details:</div><div>=C2=A0 =C2=A0 =C2=A0<a href=
=3D"http://arxiv.org/abs/1510.02037" target=3D"_blank">http://arxiv.org/abs=
/1510.02037</a></div><div><br></div><div>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.</div><div><br></div><div>We would be delighted to hear your feedb=
ack.=C2=A0</div><div>- Ittay Eyal and E. G=C3=BCn Sirer.</div><div><br></di=
v></div>
</blockquote></div><br></div>

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