Bitcoin Core developer John Newbury introduced the initiative Bitcoin Optech, in which experienced developers will help uses FOR bitcoin companies to implement solutions to scale the network.

We’re proud to announce the launch of Bitcoin Optech today. We’re here to help businesses integrate Bitcoin technology scaling.

— bitcoinops (@bitcoinoptech) 20 Jul 2018

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.

Investors in Bitcoin Optech has made Wences Xapo CEO Casares, entrepreneur John Pfeffer and group Chaincode Labs. Note that support for the initiative expressed Coinbase, Square, BitGo and several well-known companies.

“The more the industry interacts with open source, the better”, — said in a statement Optech Bitcoin.

The participants of the project will focus on the technologies that a business can implement in the near future, but in the future are likely to look and Lightning Network, signature Snorra and Taproot/Graftroot.

We will remind, earlier the average size of blocks in the bitcoin network exceeded 1 MB.