3 ms·

It's gonna sound snarky, but I don't think there is any crypto that is ready for "widespread usage" if by that we mean literally 100s of millions of users per d

It's gonna sound snarky, but I don't think there is any crypto that is ready for "widespread usage" if by that we mean literally 100s of millions of users per day, doing multiple transactions each. ETH for example is sitting at around 1.2 million transactions per day nowadays, and Bitcoin half of that. Theoretically, ETH can only do around ~2.5M transactions a day. Not exactly ready for widespread usage either. ETH 2.0 is theoretically capable of 100K transactions per second, but I'll believe it when I see it under real world load. That said, it's good to see ETH finally moving to PoS.

leppr 6y ago
It is ready, the low throughput is organically priced in by the network, thus the valid usecases are also organically, and "correctly" constrained. On experimental chains you pay a fraction of the cost for transactions, but the risks are unclear and misunderstood.
1996 6y ago
> Theoretically, ETH can only do around ~2.5M transactions a day. Not exactly ready for widespread usage either. This is besides the point. There are many scaling solutions - and technology improves with time. Your point is equivalent to saying "yeah but you can't put full videos online or even distribute them in digital format" in 1996, or predicting youtube is doomed to fail (like most nerds did back then) Even with the storage technology of 1996 (700 MB CD) with the help of new algorithms you can compress a full movie at NTSC resolution or better. And today, youtube is one of the most popular websites if not #1 in most of the world. You may say "hindsight 20/20", I will say instead "old geeks can't understand the market or the potential of new things" - like the iPod. Less space than a nomad! Lame! Young impressionable geeks parrot these words instead of thinking by themselves. Meanwhile, those who can see beyond the present limitations understand how wrong this all is.

leppr 6y ago

It is ready, the low throughput is organically priced in by the network, thus the valid usecases are also organically, and "correctly" constrained. On experimental chains you pay a fraction of the cost for transactions, but the risks are unclear and misunderstood.

1996 6y ago

> Theoretically, ETH can only do around ~2.5M transactions a day. Not exactly ready for widespread usage either. This is besides the point. There are many scaling solutions - and technology improves with time. Your point is equivalent to saying "yeah but you can't put full videos online or even distribute them in digital format" in 1996, or predicting youtube is doomed to fail (like most nerds did back then) Even with the storage technology of 1996 (700 MB CD) with the help of new algorithms you can compress a full movie at NTSC resolution or better. And today, youtube is one of the most popular websites if not #1 in most of the world. You may say "hindsight 20/20", I will say instead "old geeks can't understand the market or the potential of new things" - like the iPod. Less space than a nomad! Lame! Young impressionable geeks parrot these words instead of thinking by themselves. Meanwhile, those who can see beyond the present limitations understand how wrong this all is.