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I'll be convinced when I get a satisfying explanation on how blockchain will scale to handle the rate of transactions in a real global economy (while keeping al
by placebo 9y ago
I'll be convinced when I get a satisfying explanation on how blockchain will scale to handle the rate of transactions in a real global economy (while keeping all it's advantages intact)
- bitcoinusrname1 9y agoLightning network is a superb solution for that scaling. Still, the whole thing is a huge research project. There's no simple and clear solution in sight. Bitcoin isn't just an engineering project.
- vertex-four 9y agoThe answer is reasonably simple - a globally-agreed-upon time-ordered database can act as an anti-cheating layer for new protocols built on top of it. Lightning Network is a simplistic option, and I reckon there'll be more over time. These protocols may allow nodes to only watch transactions that they're interested in, and participate in a blockchain only indirectly - storing or even hearing about the whole chain becomes unnecessary for most nodes. I do hope that proof-of-stake or a similar system come into being trustworthy systems, however, to decouple the security of a blockchain from its energy usage.