On July 20, John Newbery announced the launch of a new project called Blockchain Operations Technology Group, a program designed to help Blockchain companies successfully implement and implement Bitcoin technology. John Newbury is the developer of the Bitcoin and Bitcoin core contributor. The Group identified two major problems faced by companies, namely “scalability” and “accurate implementation of a certain technology”.
The group will mainly focus on a couple of things:
- Segwit usage
- Transaction batching
- Fee estimation
- Coin selection
The company has one main goal, to develop the Bitcoin technology that can be adopted by companies today. The group aims to build a network of process engineers who will learn about upcoming technologies and integrate them into existing products. According to the company’s 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.”
The company plans to bring together a group of engineers from digital exchanges, technological companies and digital wallets to better utilize the Bitcoin blockchain. The group also held their first workshop in San Francisco where the participants talked about the solutions to scaling and related issues.
The group also stated that they will:
- Continue engaging with engineers from companies using the Bitcoin network and with the open source community. The company claims that an open source industry is better than the mainstream ones that exist now.
- Continue producing high-quality technical content in the form of weekly newsletters and potentially a ‘scaling cookbook’.
- Hold more workshops for Bitcoin engineers to discuss real-world scaling issues and feed findings back to the open source community.
- Host an online forum for Bitcoin engineers to discuss technical scaling issues.
- Monitor the adoption of scaling techniques and the general health of the Bitcoin network.
The company has also gone ahead and stated that they are not:
- A Bitcoin foundation. They have stated that they are just engineers and contributors who care about Bitcoin and want to see it succeed.
- A company that represents Bitcoin Core and is project-agnostic.
- A company that represents any Bitcoin companies.
- The company relies on sponsorships and contributions from fans and participants.
At the time of writing Bitcoin was trading at $7471 with a market volume of $4.741 billion. On Binance it was trading at $7482.01 while on OKEx it was trading at $7477.66. Recently the cryptocurrency had undergone a massive surge where the coin was trading at $7498.