Bitcoin Professionals Create Group For Blockchain Implementation & Scalability

2018-7-21 19:23

Another group related to blockchain technology has been created on July the 20th. This time, John Newbery decided to announce the new project which is known as the Blockchain Operations Technology Group. The main intention behind it is to help Blockchain-related companies adopt and implement the technology behind Bitcoin in a successful and easy way.

For those who do not know about him, John Newbery is a Bitcoin developer and contributor that has been working in the last years trying to improve how the most famous virtual currency works. The group created by Mr. Newbery has identified two main problems that crypto and blockchain companies face. We are talking about scalability and the ‘accurate implementation of a certain technology.’

There are four important topics that the group will be working with including: Segregated Witness (SegWit), its use and adoption, transaction batching, fee estimation and coin selection.

The company aims to spread the use of blockchain technology and bitcoin around the world and in many different businesses everywhere. The group will be working with several specialized engineers that will be learning about new technologies and integrating them into existing products.

Wences Casares, John Pfeffer and Chaincode Labs, the group has been working very hard in order to produce important information about Bitcoin and blockchain tech.

The company explained about it on its blog:

“With generous support from Wences Casares, John Pfeffer and Chaincode Labs, we’ve spent the last few months meeting engineers and managers from across the ecosystem; started producing weekly newsletters for Bitcoin engineers highlighting ways that they could use the blockchain more effectively.”

Indeed, the company will be gathering and working with an important group of experts and engineers from different important crypto exchanges, technological companies and digital wallets with the only mission of improving Bitcoin’s blockchain.

Other important topics that the group will be focusing in are related to holding workshops for Bitcoin engineers and discuss scaling issues, monitor the adoption of the latest scaling techniques, test the general health of the Bitcoin network, produce high-quality technical content in the form of weekly newsletters and more.

Additionally, the company expressed that they are not a Bitcoin foundation, but instead, they are engineers and contributors that care about Bitcoin and want it to succeed. Moreover, they said that they are not a company that represents Bitcoin Core and is project-agnostic, a company that represents any Bitcoin companies, and more.

It is important to mention that the group is now relying on sponsorships and contributions from fans and participants.

At the moment of writing this article, Bitcoin is the most important virtual currency in the market. Indeed it is now being traded around $7,300 and has experienced an important increase during the last days. Its price spiked from $6,700 to $7,400 in just an hour. At the same time, its dominance gre up to 45,5% and it is in its highest point since December 2017.

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