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Uh, I definitely don't mean to be offensive at all but your question is very naive. The short answer is that a lot of engineering effort has gone into improvin
by Taek 10y ago
Uh, I definitely don't mean to be offensive at all but your question is very naive.
The short answer is that a lot of engineering effort has gone into improving performance and today's Bitcoin is already enjoying those benefits.
The long answer is an entire field of research. There are fundamental things about cryptocurrency that means global throughput is very low and also high latency.
The hard part is the decentralization. If you can delegate trust to a small handful of entities, it's much easier to get scaling.
- alkonaut 10y agoNo offense. My question was really e.g. are there newer "generations" of cryptocurrencies that have worked around some of the problems Bitcoin has with eg. scaling? mostly interesting wrt. whether Bitcoin will survive or be superceded by something else.
- Taek 10y agoThere are newer currencies that claim to have solved the problem. But the vast majority of them do not understand the problems that Bitcoin is trying to solve, and make security tradeoffs that would be considered unacceptable in the Bitcoin ecosystem. Those that show promise are yet-incomplete. Most don't provide practical scaling benefits greater than 5x, not a strong number considering the amount of scaling we'd like to see is closer to 10,000x.