scalability – With reference to Bitcoin/Lightning scaling to worldwide adoption

on

|

views

and

comments


Assuming micropayment channel networks like Christian Decker’s purposed Channel Factories involves life on Bitcoin (by way of a future smooth fork containing one thing like SIGHASH-ANYPREVOUT) and given the all too typically posed query of “How can Bitcoin scale to incorporate 6 billion folks and worldwide adoption” I can’t assist however assume this could be pretty arbitrary given the pattern of onboarding 20 folks per channel manufacturing unit transaction. I imply assuming that the driving narrative is 6 billion folks need to use BTC/Lightning community ASAP, then can’t this be simply achieved utilizing channel factories and direct cooperation with the KYC exchanges? (That is assuming the world didn’t thoughts utilizing exchanges to onboard and utilizing peer- to-peer atomic swaps wasn’t of essential significance) Coinbase, for instance, might conceivably ask for a public-key after withdrawing funds from someone’s account. They might group at the least 20 folks collectively and use their public keys to derive the 20 of 20 tapscript tackle. They might ship out the relevant data to all events after which ship the sum of all 20 peoples funds to the taproot tackle successfully onboarding 20 folks onto the Lightning Community and thus Bitcoin community with one transaction. By my calculations, the alternate might create a large transaction filling a complete block with 1 P2TR to 23,230 P2TR outputs. The arbitrary price Coinbase would cost every individual and thus put in the direction of the large transaction would greater than incentivize any miner to take the large transaction into their block because the price can be bigger than another mixture of different transactions within the mempool. Given that every output is successfully representing 20 new folks being onboarded to the community, this could imply 20*23,230 = 464,600 could possibly be onboarded per block. This could imply that you can onboard 6 billion folks in 90 days. Even if you happen to have been simply allocating 25% of every block for transactions like this and leaving the opposite 75% for normal transaction, that may nonetheless imply you may onboard the whole planet in 1 yr which appears greater than cheap to me. So is my math fallacious right here? So far as I do know a transaction may be as giant as a block. Granted, I notice I’m neglecting the time it could take to offboard all these folks however I’m coping with simply the idealized greatest case situation right here. Any ideas?

Share this
Tags

Must-read

New Part of Torc–Edge Case Collaboration Targets Manufacturing-Prepared Security Case

Unbiased security assessments by Edge Case mark a pivotal step in Torc’s journey towards commercializing Degree 4 autonomous trucking Blacksburg, VA — August 19,...

Self-Driving Truck Firm Strikes Into Ann Arbor

Exterior, friends mingled within the heat August solar whereas children, dad and mom, and even a number of four-legged mates loved the morning....

Tesla shareholders sue Elon Musk for allegedly hyping up faltering Robotaxi | Tesla

Tesla shareholders sued Elon Musk and the electrical automobile maker for allegedly concealing the numerous threat posed by firm’s self-driving automobiles.The proposed class-action...

Recent articles

More like this

LEAVE A REPLY

Please enter your comment!
Please enter your name here