RATE Group | Newly Launched Bitcoin Optech Initiative Aims to Address BTC Scalability Issue
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Newly Launched Bitcoin Optech Initiative Aims to Address BTC Scalability Issue

22 Jul Newly Launched Bitcoin Optech Initiative Aims to Address BTC Scalability Issue

Posted at 01:05h in Bitcoin News by

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A team of Bitcoin (BTC) engineers has announced the launch of the Bitcoin Operations Technology Group (Bitcoin Optech) addressing the problem of Bitcoin’s scalability, according to their statement published July 20.

Bitcoin Optech is a non-profit organization backed by leading industry players like PayPal Board Member Wences Casares, executive of Kohlberg Kravis Roberts & Co. Ltd John Pfeffer, and cryptocurrency research and development group Chaincode Labs.

At this stage, Bitcoin Optech focuses on “operational technical work, such as segwit usage, transaction batching, fee estimation and coin selection,” helping companies integrate the rapidly developing technology.

Working closely with engineers from companies using the Bitcoin network and open-source developers, Bitcoin Optech seeks to give the scalability problem full consideration by holding workshops for Bitcoin engineers, hosting an online forum for technical scaling issues, and producing a weekly newsletter.

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