Term of the Moment

early storage

Look Up Another Term

Redirected from: next-gen Bitcoin

Definition: Bitcoin NG

(Bitcoin Next Generation) A proposed change to the Bitcoin protocol that allows faster transaction processing. Bitcoin NG splits the transaction blocks into "key" and "micro" blocks. See Bitcoin, blockchain and crypto glossary.

Key Blocks and Micro Blocks
The key blocks resemble the traditional Bitcoin blocks that provide the hash linkage and integrity of the blockchain. The micro blocks published between the key blocks hold the actual transactions and are linked to the key blocks via public and private keys.