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The Bitcoin network is not having much difficulty with a couple of transactions per second. It is the community that struggles with adjusting to an appropriate
by Hermel 11y ago
The Bitcoin network is not having much difficulty with a couple of transactions per second. It is the community that struggles with adjusting to an appropriate throughput.
- vertex-four 11y agoHow do I continue using Bitcoin as a transactional currency if I can't perform transactions with it?
- vonklaus 11y agowell, you couldn't. Peter Todd is a btc dev and provided a lot of thinking on the tradeoffs. He stated in an interview (fairly confident in this) a 100x improvement in speed and is in favour of not increasing block size. Should check it out, the intetview was on a podcast on the LTB network on itunes. So you will be able to. He has done a lot of thinking around tree chains and scaling and optimiztion. Btc is limited inamount of coins and came first, its value is as a currency. Eth is the first popular blockchaindb. Coins are needed to pay miners and powet dapps. If a currency cant be traded it idnt worth anything, however sidechains seem to provide a way to convert from one to another
- tommorris 11y agoI believe the current answer to that is to make vague promises about how the vapourware known as the Lightning Network will solve all the problems.
- Crespyl 11y ago"a couple" transactions per second is not enough for a global network that intends to have millions of participants.