Some software developers have favoured reorganising the format of Bitcoin transactions to make the blockchain more efficient.
Specifically, they propose relocating " transaction signatures" - which unlock bitcoins so they can be spent - from within the blockchain to a separate file transmitted alongside it.
Doing so should make it possible to process transactions at double the current rate.
And as an added benefit, "node" computers could save on storage space by opting not to keep records of the oldest signatures.
This scheme is known as Segregated Witness, or Segwit.
However, critics say it would deliver only a temporary respite while adding an extra level of complexity.
