One best thing about digital and software products and applications is that it can be constantly updated to make it better by adding new features and functionalities as per the changing requirements. Bitcoin, since its inception in 2009 has undergone several iterations till date. From being just a form of digital currency to a whole new platform powered by Blockchain technology. Bitcoin was followed by Bitcoin 2.0 (Blockchain related applications), Bitcoin XT (latest bitcoin fork aiming to increase block size limit) and now we have Bitcoin NG (Bitcoin Next Generation) under development.
Bitcoin NG was introduced at the recently concluded Scaling Bitcoins event held in Montreal, Canada. The latest iteration of Bitcoin is being developed by a group of researchers from the Cornell University. Working on Bitcoin NG are students Itay Eyal and Adem Efe Gencer along with Professor Emin Gun Sirer and research scientist Robbert Van Renesse. Bitcoin NG aims to provide solutions to various issues currently plaguing the existing Bitcoin network. These hotly debated issues includes the network’s capacity to process the increasing number of Bitcoin transactions and expansion of Bitcoin block size limit.
Bitcoin NG is focused on research and development on Blockchain technology. According