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We have no idea how many transactions are “in a block”. There are multiple decentralized layers aggregating thousands of transactions down into a single bitcoin
by doomroot 5y ago
We have no idea how many transactions are “in a block”. There are multiple decentralized layers aggregating thousands of transactions down into a single bitcoin block transaction. This doesn’t even begin to touch the sheer magnitude of transactions that exchanges facilitate between their users without touching the blockchain.
- davewritescode 5y agoYes, but when I exchange bitcoin off chain, I'm giving up a lot of the benefits of using bitcoin in the first place. Lighting in particular solves transaction speed by introducing additional potential security problems that need to be accounted for, particular closed channel type attacks.
- Balantio 5y agoFrom a default btc perspective, we are very aware of how many transactions are there. Non of my ways of buying/using bitcoins is doing it indirectly. And i do have to assume that this is nothing you can't estimate. After all either those systems are known and used, than you should be able to verify that this is a potential lightning transaction block which contains more or so.