Update
Bitcoin Developer Introduces Layertree Proposal
Bitcoin developer Olaoluwa Osuntokun has unveiled Layertree, a proposal to allow millions of Bitcoin users to share a single blockchain output without surrendering control of their funds. The system uses a Merkle-sum tree to track balances outside the blockchain, allowing for potential savings in transaction fees. However, the proposal faces complications such as operator control over admission and the risk of congestion if many users attempt to withdraw simultaneously. The system requires new capabilities not yet activated in Bitcoin's scripting rules.