3 ms·
I'm out of the loop on this stuff, but are others doing things to prevent the situation Bitcoin had a couple years ago, when it hit $37 per transaction? That s
by gregmac 7y ago
I'm out of the loop on this stuff, but are others doing things to prevent the situation Bitcoin had a couple years ago, when it hit $37 per transaction?
That seemed to happen due to a massive price and volume increase, so is hard to design for. At the same time, at peak, it was still doing a tiny fraction of the volume that any of the credit card networks do.
- bufferoverflow 7y agoYeah, BTC limited the block size, so transaction cost went through the roof. Thankfully there are many alternatives. BCH is great.
- leppr 7y agoBlockchain scaling is still a very active area of research, and anyone (like GP) telling you there's a battle-tested solution available today to replace Visa is lying to you. On the precise issue of transaction cost predictability, I think most solutions would revolve around creating a market for the ability to execute future transactions. There's a hackish project on Ethereum doing just that: https://gastoken.io/ https://gastoken.io/