A group of bitcoin developers presented the initiative of Bitcoin Operations Technology Group (Optech Bitcoin), which is designed to solve the problem of scalability of the bitcoin network.

The main goal of the new initiative is to prevent the jump of the fees with the next wave of increased interest in cryptocurrencies. The developers are convinced that solutions such as the Protocol Segregated Witness, can greatly help bitcoin businesses and to reduce transaction costs by half.

To do this, team members are closely cooperating with engineers from different companies using the bitcoin network in private purposes. In addition, the specialists of Bitcoin Optech periodically hold seminars and conduct a forum to answer technical questions about bitcoin.

Bitcoin Operations Technology Group is positioned as a non-profit organization that receives support from industry leaders, and people interested in using technology to achieve the best results with the PTS. Among Board members are representatives of Kohlberg Kravis Roberts and Co, PayPal and Chaincode Labs.

We will remind, in April of this year the company Stripe has discontinued support of the application for payment in bitcoin, citing its uselessness. CEO Claire Hughes Johnson (Claire Hughes Johnson) explained that the reason for the refusal of service was the fact that bitcoin and other payment services on the basis of the blockchain is slow, impractical and overpriced.