Craig Wright on Ethereum and BCH scalability

Craig Wright on Ethereum and BCH scalability


Ethereum came about because in 2013
when Vitalik wanted to create smart
contracts on Bitcoin he was told that
they were spam non-standard contracts
were introduced before that to stop
people doing things like tokenized
coins and whatever else.
None of that’s going to be an issue in
Bitcoin Cash the script operations will
be opened up again and everything that
Bitcoin can and should be will happen
there will be no one taking over and
telling us that things that they a few
people don’t like like gambling or
whatever else as spam so we’re going to
open that up
we’ve just attention we’ve just funded a
number of universities doing so far a
test up to one gigabyte we did that
because it validates what we’ve already
done independently we’ve tested up to
380 gigabyte blocks right now we have
tested 1 million transactions a second
and transaction sizes up to 20 megabytes
super complex scripts basically ones
that can run operating systems so
scaling I don’t see it as a problem we
can handle we can actually help people
scale up in the next few years on
Bitcoin cash to over 1 million
transactions a second that’s basically
all of global commerce times about 50 on
top of that we can have complex scripts
on top of that with payment channels
between that we can scale each of those
transactions 1,000 times which
effectively means about a billion
transactions per second
which means we can then have all
derivatives or complex trades everything
that means high frequency trading it
means everything that happens globally
we’ll be releasing a number of things
such as methodologies to allow pegging
of assets not the way that colored coins
did in the past but so that you can’t
lose your assets so that colored coin
then stays as a colored coin unless you
intentionally write a raw script to
destroy it
or lose it which means you stay if you
have a pegged currency with a pegged
currency and it all happens on chain so
sorry Ethereum but Bitcoin can do
everything you can. It always could and
now we don’t have developers stopping us.

7 comments

  1. Fabulous talk from Dr. Wright – finally bitcoin (cash) now has a an opportunity to reclaim some of its lost territory…

  2. You can’t have 1GB blocks every few seconds like master or visa.
    And with 1GB very 10mins your average joe won’t be able to download the Blockchain and mine.

  3. Research Elastos ETH sidechains for Dapps and Ethereum scalability issues as opposed to using BCH.

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