• Latest
Coder Proposes Alternative to Bitcoin’s ‘Notoriously Unreliable’ Testnet

Coder Proposes Alternative to Bitcoin’s ‘Notoriously Unreliable’ Testnet

July 18, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Tech

Coder Proposes Alternative to Bitcoin’s ‘Notoriously Unreliable’ Testnet

coinnewsdaily by coinnewsdaily
July 18, 2019
in Tech
0
Coder Proposes Alternative to Bitcoin’s ‘Notoriously Unreliable’ Testnet
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022

Introduced Wednesday, a new proposal called Signet offers a fresh alternative to bitcoin’s test network.

The software plays a crucial role for developers, serving as a place where they can test their apps, to make sure they work reasonably well on the network by putting only test money on the line. Further, protocol developers can use it to test the viability and safety of big changes to bitcoin, such as Segregated Witness, one of the best-known and largest-scale bitcoin changes.

But bitcoin’s current testnet, which has been around in its current form for years, has its share of problems. In a new Bitcoin Improvement Proposal (BIP) posted to the bitcoin developer email list, Bitcoin Core contributor Karl-Johan Alm goes as far as to call it “notoriously unreliable.”

He hopes to change that with a new type of testnet for bitcoin that gets around the old testnet’s problems.

Alm told CoinDesk:

“Signet is like bitcoin, but it is completely centralized and controlled by one or several people. These people have to sign a block for it to actually be valid.”

Many of the problems with the testnet have to do with mining blocks, which is more erratic on the testnet than on the real bitcoin network. A few of the problems, Alm argues in the BIP, are: “Huge block reorgs, long gaps in between blocks being mined or sudden bursts of blocks in rapid succession mean that realistic testing of software, especially involving multiple independent parties running software over an extended period of time, becomes infeasible in practice.”

“Reorgs” are when one block is replaced with another block.

To a degree, this happens naturally in bitcoin because it’s a distributed network with nodes scattered all over the world, so it takes a bit of time for the nodes to come to agreement on block and transaction history. If two blocks are broadcast at about the same time from different parts of the network, one block might seem valid to some of the network, and another block valid to the rest of the network. So, the network needs some time to reconcile these conflicting blocks.

The problem is that this event happens much more frequently – and on a larger scale – on the test network.

“The goal is not to be perfectly reliable but rather to have a predictable amount of unreliability. You want a test network to behave like mainnet (i.e. no thousands of block reorgs) while also making it easier to trigger expected but rare events like a 6-block reorg,” the BIP explains.

As a centralized testnet alternative, Signet would help to alleviate these types of problems.

“Signet helps prevent these problems because the signer is fixed. Making blocks can be pretty cheap because you don’t compete with anyone, and there is no security issue with a low hash rate since nobody else has the private keys. Since the network is highly coordinated, reorgs will basically never occur, except if the network operators want them to,” Alm told CoinDesk.

Though there is a test Signet live already, his next goal is to get support for the change merged into Bitcoin Core, so that people can use it like the current testnet. In the proposal, Alm also linked to a rough draft Signet code implementation that other developers can test.

Hackers via CoinDesk archives 

Credit: Source link

Tags: Crypto Tech
Share76Tweet48
Previous Post

‘Smart Dubai’ Initiative Receives a Boost as DAG Platform Comes On Board

Next Post

Reasons Why US Government Won’t Ban Libra Cryptocurrency

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building
Bitcoin

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
green gaming
Business

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
axie infinity: what are the minimum android phone requirements to play on mobile
Alt Coin

Axie Infinity: What Are the Minimum Android Phone Requirements to Play on Mobile

April 21, 2022
Load More
Next Post
Reasons Why US Government Won’t Ban Libra Cryptocurrency

Reasons Why US Government Won’t Ban Libra Cryptocurrency

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$27,750.000.16%
  • ethereumEthereum(ETH)$1,752.44-0.67%
  • tetherTether(USDT)$1.00-0.60%
  • binancecoinBNB(BNB)$327.120.37%
  • rippleXRP(XRP)$0.452343-1.11%
  • cardanoCardano(ADA)$0.348244-3.21%
  • dogecoinDogecoin(DOGE)$0.073316-2.55%
  • matic-networkPolygon(MATIC)$1.09-0.69%
  • solanaSolana(SOL)$20.50-1.90%
  • polkadotPolkadot(DOT)$5.95-1.62%
  • litecoinLitecoin(LTC)$91.31-3.83%
  • shiba-inuShiba Inu(SHIB)$0.000010-1.38%
  • tronTRON(TRX)$0.064152-0.20%
  • daiDai(DAI)$1.00-0.27%
  • chainlinkChainlink(LINK)$7.13-1.20%
  • cosmosCosmos Hub(ATOM)$11.12-1.27%
  • leo-tokenLEO Token(LEO)$3.420.07%
  • moneroMonero(XMR)$160.88-3.27%
  • ethereum-classicEthereum Classic(ETC)$19.92-1.70%
  • okbOKB(OKB)$41.890.56%
  • stellarStellar(XLM)$0.092490-0.11%
  • bitcoin-cashBitcoin Cash(BCH)$122.66-2.53%
  • filecoinFilecoin(FIL)$5.51-0.83%
  • crypto-com-chainCronos(CRO)$0.067856-2.39%
  • vechainVeChain(VET)$0.022514-2.16%
  • algorandAlgorand(ALGO)$0.206922-1.73%
  • internet-computerInternet Computer(ICP)$4.87-1.84%
  • eosEOS(EOS)$1.12-1.65%
  • elrond-erd-2MultiversX(EGLD)$42.18-1.17%
  • tezosTezos(XTZ)$1.12-0.51%
  • aaveAave(AAVE)$72.090.01%
  • theta-tokenTheta Network(THETA)$0.99-2.44%
  • neoNEO(NEO)$12.654.92%
  • paxos-standardPax Dollar(USDP)$1.00-0.67%
  • havvenSynthetix Network(SNX)$2.40-1.75%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.71-0.66%
  • bitcoin-cash-svBitcoin SV(BSV)$36.18-1.69%
  • dashDash(DASH)$57.02-5.49%
  • makerMaker(MKR)$663.27-1.54%
  • huobi-tokenHuobi(HT)$3.63-1.29%
  • iotaIOTA(MIOTA)$0.206631-1.56%
  • zilliqaZilliqa(ZIL)$0.026938-1.58%
  • zcashZcash(ZEC)$35.51-1.56%
  • basic-attention-tokenBasic Attention(BAT)$0.240343-1.23%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • nemNEM(XEM)$0.038707-1.06%
  • qtumQtum(QTUM)$3.110.38%
  • kusamaKusama(KSM)$33.07-0.65%
  • compound-governance-tokenCompound(COMP)$41.47-3.07%
  • bitcoin-goldBitcoin Gold(BTG)$16.17-1.33%
  • yearn-financeyearn.finance(YFI)$8,289.54-1.25%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • omisegoOMG Network(OMG)$1.79-1.83%
  • golemGolem(GLM)$0.235523-1.90%
  • wavesWaves(WAVES)$2.12-1.23%
  • ontologyOntology(ONT)$0.226233-0.43%
  • sushiSushi(SUSHI)$1.04-1.02%
  • digibyteDigiByte(DGB)$0.009538-1.20%
  • umaUMA(UMA)$2.02-0.40%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%