3 ms·
There are some nuances that are often not fully understood when discussing the transaction limit in bitcoin. Firstly, since the transactions are processed by th
by solotronics 10y ago
There are some nuances that are often not fully understood when discussing the transaction limit in bitcoin. Firstly, since the transactions are processed by the miners in exchange for a fee we have evolved into a dynamically calculated fee system. Since the blockchain is immutable this makes sense so that it is costly for an attacker or abuser to flood the system with meaningless transactions. There is some contention in this, but from my perspective what has emerged is a free market where if you need a quick transaction guaranteed you will pay the few cents to get it. Also, the Lightning network payment layer is in testing currently and when it is added as another layer on top of bitcoin this enables a huge rate of transactions per second for negligible price.