I have heard that bitcoin can evolve its model . For example bitcoin has added some start contract language. And I've heard it said there's ways to go from proof of work to proof of stake, if that were desired.
I don't know how that actually happens. Who agrees with change in the model and how does this protocol change get pushed out?
Here's a few challenges bitcoin has to deal with eventually. 1. There's a rate limit on the number of transactions. So either the number of transactions per epoch or the rate of epochs needs to go up by hundreds of fold to be similar to say Visa. In particular workarounds like lightning network evidently have a model flaw in that it becomes unviable as bitcoin transitions from mining based to fee based.
Moving to quantum resistant signatures.
Reducing the cost of mining without losing the security model of cost based (paid in energy) Mining. Presumably this looks like proof of stake
How would these changes get introduced into this distributed system?
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