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Bitcoin Classic Roadmap 2016/2017

The Bitcoin Classic team will work to realize Satoshi’s vision of making Bitcoin scale into a global peer-to-peer cash system, not merely a settlement network. We believe on-chain scaling is crucial for the long term health of Bitcoin. On-chain scaling maximizes transaction volume, whose fees are needed to replace miner rewards on the medium to long term scale.

Our preferred strategy for on-chain scaling is move the control over the block size from the software developers to the open market. The maximum size hardcoded in the protocol should be replaced with one where block-creators (miners) choose the size based on what the market as a whole indicates they need. The indicators are acceptable block size on one side and transaction backlogs on the other.

Bitcoin Classic will also work to implement further strategies, like optimistic mining, to make the blockchain grow both safe and responsible in size and number of users.

In research done by independent parties we gained insight into the growth difficulties to be expected over the next years. The main thing we learned is that the difficulties would not be relevant for quite some time of normal growth of the Bitcoin userbase. This gives us some breathing room to share the focus between growth innovations and the long overdue maintenance and forward looking cleanups.

Focus areas

Basic scaling of Bitcoin

  • We will work on strategies to allow the market to decide on a block size that is healthy for individual players and remove the central-planned maximum block size.
  • We will work with miners and other parties in Bitcoin to come up with a way to do a safe and predictable protocol upgrade which is required to remove the current 1MB maximum block size.
  • We will implement optimistic mining. A strategy where a miner sends out a block-header first and the block itself afterwards. Other miners will be able to start mining as soon as they get the first part removing many attack vectors and risks associated with bigger blocks.

Fix problems in the Bitcoin protocol

  • We will work on Flexible Transactions, a new transaction format that can live side by side with the current one but solves a lot of technical debt. The major ones it solves are transaction-malleability and the quadratic hashing problem.

Codebase cleanliness

Bitcoin Classic inherited its codebase and the quality of the architecture and overall design is far below our standards. In this roadmap we want to work on this with the goal that the quality-of-live for developers wanting to contribute will go up.

  • Put to work engineering best-practices and improve on code-quality.
  • Introduce a new network-manager that will live side-by-side to the current network stack, but have many features and a lock-free design.
  • Use the new network manager to provide a better RPC solution, one that is much faster and allows new features like remote-logging and monitoring.
  • Introduce an Application class which is a singleton and a single-point of entry for the ongoing work to remove most of the global variables. Global variables are a technical debt we want to remove.

Now read the long-term high-level roadmap.