During a recent presentation at Paralelni Polis in Prague, Czech Republic, Blockstream President Adam Back shared his personal vision for scaling Bitcoin to handle more users over the next few years. His plan is mostly based on the Bitcoin Core roadmap for capacity increases (originally written up by Blockstream CTO and Bitcoin Core contributor Greg Maxwell on the Bitcoin development mailing list).

If implemented, Back’s plan for scaling Bitcoin would double the on-chain transaction capacity on the network three years in a row, while simultaneously allowing for the development of layer-2 solutions, such as the Lightning Network, which, according to its creators, could allow for millions or billions of transactions per second across the network.

Segregated Witness Soft Fork

The first improvement listed on Adam Back’s proposed roadmap was Segregated Witness (SegWit), which provides a variety of improvements to Bitcoin’s scalability prospects. The improvement effectively…

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