KCN Startup offers Extension Blocks to solve bitcoin scaling issue
Channel: KCN News
Date: 05/04/2017

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Bitcoin startup suggests new solution to break scaling gridlock. Purse team issued demo of specification that enables the network to optionally support different kinds of blocks in addition to the default 1 MB blocks that today make up the main bitcoin blockchain and that have long been a source of community tension. Extension Blocks enable larger blocks through an opt-in second layer for true on-chain capacity increase. The main features of the innovation are immediate blocksize increase, possibility to further blocksize increase via soft fork, fungibility to transfer funds in and out of the extension block, support for Lightning and Smart Contracts and minimal changes for wallet software.
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