Scaling Bitcoin Conference: On the Scalability of Non-Currency Applications

The Scaling Bitcoin workshop held in Montreal, Canada from September 12-13 aimed to discuss several issues currently affecting the industry. One of the biggest topics on the table was that of the block size limit, which could be addressed through scalability.

Among the presentations made during the bitcoin conference was on the scalability of non-currency applications, discussed by Harry Kalodner of Princeton’s Security and Privacy Research Group and assistant professor of computer science at Princeton Arvind Narayanan.

Scaling Solutions for Bitcoin

As it is, the bitcoin network has been subjected to a hard fork, with some developers favoring the Bitcoin XT software that allows a shift from a 1MB to 8MB maximum block size. Others, however, thought it best to stick with the Bitcoin Core version that is reportedly more stable.

In their presentation during Day 2 of the conference, Kalodner and Narayanan discussed the various non-currency applications of bitcoin and blockchain. After all, the distributed public ledger has been enjoying the spotlight these days, thanks to its numerous applications in record-keeping and trade settlement.

Among the applications presented are the use of blockchain in stock trading activity wherein each trade could be recorded as a transaction on the blockchain. The

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