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Bitcoin-NG: A Scalable Blockchain Protocol

arXiv:1510.02037
Date: 2015-11-11
Author(s): Ittay Eyal, Adem Efe Gencer, Emin Gun Sirer, Robbert van Renesse

Link to Paper


Abstract
Cryptocurrencies, based on and led by Bitcoin, have shown promise as infrastructure for pseudonymous online payments, cheap remittance, trustless digital asset exchange, and smart contracts. However, Bitcoin-derived blockchain protocols have inherent scalability limits that trade-off between throughput and latency and withhold the realization of this potential.This paper presents Bitcoin-NG, a new blockchain protocol designed to scale. Based on Bitcoin's blockchain protocol, Bitcoin-NG is Byzantine fault tolerant, is robust to extreme churn, and shares the same trust model obviating qualitative changes to the ecosystem.In addition to Bitcoin-NG, we introduce several novel metrics of interest in quantifying the security and efficiency of Bitcoin-like blockchain protocols. We implement Bitcoin-NG and perform large-scale experiments at 15% the size of the operational Bitcoin system, using unchanged clients of both protocols. These experiments demonstrate that Bitcoin-NG scales optimally, with bandwidth limited only by the capacity of the individual nodes and latency limited only by the propagation time of the network.

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submitted by dj-gutz to myrXiv [link] [comments]

One dev asks: Anybody for a train hackathon?

What about a bitcoin hackathon on a train?
You can now book Amtrak train rides with bitcoin: http://www.coindesk.com/cheapair-now-accepts-bitcoin-amtrak-railway-bookings/
Writers enjoy write-a-thons: http://www.thewire.com/culture/2014/02/inside-amtraks-absolutely-awesome-plan-give-free-rides-writers/358332/
Amtrak route map: http://www.amtrak.com/ccurl/948/674/System0211_101web,0.pdf
Amtrak wifi info: http://www.amtrak.com/journey-with-wi-fi-train-station
There are several 2-3 day rides that would work well for hackathons. Starting points and destinations include bitcoin-friendly cities such as Seattle, San Jose, SF, Chicago, NYC, Miami. The scenery along many of these routes, especially out west, is beautiful.
Other than standard conference logistics, the main hurdle is 24/7 Internet access. Based on the above Amtrak link, 24/7 wifi is not guaranteed, so a workaround that can travel with a train must be found.
Nerd on!
submitted by jgarzik to Bitcoin [link] [comments]

Robocoin to Install World’s Second Bitcoin ATM in Hong Kong

The first Bitcoin ATM was installed in Vancouver, Canada on 29th October 2013. Robocoin first unveiled the ATM at a conference in San Jose, California during last year’s springtime. At the time Robocoin had said that four other ATM’s would be launched in December at Toronto, Montreal, Calgary and Ottawa. Today (7th January 2014) however, Robocoin announced that they would be deploying the world’s second Bitcoin ATM in Hong Kong.
According to Robocoin, they have sold nearly 50 ATM machines to operators worldwide but they are not yet in operation. Hong Kong was chosen because due to its positive response towards technological innovation. “I think Hong Kong is a very progressive environment,” said CEO Jordan Kelley. “The government takes a progressive approach to emerging technologies, and it is important to get something going in the Asian economies,” he added.
This video gives you an overview of the machine:
https://www.youtube.com/watch?v=uoiAewo5K7s&src_vid=0SidcjCLrQM&feature=iv&annotation_id=annotation_1219530905
About the Robocoin ATM:
It enables users to buy and sell Bitcoins. The ATM machine from Robocoin is equipped with biometric time locks and privacy-shielded touchscreen and has features like Wi-Fi and 3G enabled. robocoin1 The machine also accepts and dispenses cash and is international denomination ready. To avoid cases like money laundering and making multiple deposits, the ATM machine allows operation only after scanning a user’s palm. A user has a limit for depositing. “The ATM will work a bit like a vending machine for buying and selling virtual goods (Bitcoin) instead of physical goods like a can of soda,” said Hong Kong Bitcoin Enthusiast, Casper Cheng Tsz Chun. The location of the ATM has not been disclosed however.
Hong Kong’s adoption of the Bitcoin ATM gives Robocoin some breathing space. Recently the Taiwanese Central Bank & Financial Supervisory Commission (FSC) had jointly declared that Bitcoin cannot be recognized as a valid form of currency. FSC Chairman Tseng Ming Chung said that Robocoin ATM’s would be prohibited.
Whatever said and done, Bitcoin has definitely created some waves last year. It will be interesting to see what is in store in 2014 for companies of all types trying to monopolize the virtual currency. If Bitcoin ATM’s end up gaining mainstream adoption (which I believe is a high possibility), Robocoin would benefit tremendously with its advantage as the first player in the arena.
submitted by chiraagpatel to Bitcoin [link] [comments]

Bitcoin 2013 conference - Yifu Guo - Avalon ASIC BitCoin 2013 conference: San Jose, CA - YouTube Bitcoin 2013 conference - Garrick Hileman - History and Prospects for Alternative Currencies Bitcoin 2013 conference - Greg Broiles - Nuts and Bolts of Bitcoin Taxation Bitcoin 2013 conference - Noah Silverman - Statistical Analysis of Price Swings and Market Pricing

De ma découverte de Bitcoin à “on peut faire quelque chose avec la carte à puce et Bitcoin” ça a quand même pris un an et demi. On a développé à sec, sans être soutenu par qui que ce soit, avant d’aller sur une des premières conférences à l’époque qui s’appelait la San José Bitcoin Conference en 2013 qui était un endroit absolument surréaliste… » A lire sur ... Keep up to date with the latest bitcoin event news on CoinDesk. You can also check out local Bitcoin Meetups in your area. CoinDesk also runs the Consensus Conference and an ‘Expert Briefings ... Bitcoin 2014 was the Bitcoin Foundation’s annual conference which gathered more than 1,100 attendees in Amsterdam. As a top fintech hub in Europe and with fantastic tourist attraction, Amsterdam served as a great place for the event. Holding a conference in Europe was a great way for the Foundation to help spread its reach out of the US and provided an opportunity to experience an ... The list of panelists for the Bitcoin Conference 2013 (the one in San Jose, California, there's also going to be a second one in November in Vienna) has been announced and I'm one of them. If you're in San Jose between May 17th and 19th, you can meet a lot of people involved in Bitcoin. The 2014 Symposium will mark the 35 th annual meeting of this flagship conference. The Symposium will be held on May 18-21, 2014 in San Jose, California at The Fairmont. Latest News. Tweets by @IEEESSP. Organizing Committee. General Chair: Greg Shannon: Carnegie Mellon University: Program Chairs: Michael Backes: Saarland University and MPI-SWS: Adrian Perrig: ETH Zürich: Helen Wang: Microsoft ...

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Bitcoin 2013 conference - Yifu Guo - Avalon ASIC

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