Could the Bitcoin Lightning Network Solve Blockchain Scalability?

By March 26, 2015Bitcoin Business

The blockchain’s increasing size continues to raise concerns about its ability to accommodate transaction growth.

But, could a decentralised system where transactions are sent over a network of off-blockchain micropayment channels solve the ledger’s scalability problems?

Joseph Poon and Thaddeus Dryja, the developers behind the Bitcoin Lightning Network, think so.Although still in its nascent stage, the Lightning Network – based on a recent  white paper  – aims to solve the scalability issue by implementing hashed timelock […]

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