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The Future of Blockchain Transactions

https://perfectial.com

If you’ve been keeping up with the Blockchain news cycle, you know that the scalability issue is still very much pressing for the Bitcoin network.

Currently, the blocks on Bitcoin are being mined every 10 minutes and the block size is limited to 1 megabyte. The network is capable of processing nearly 2000 transactions every 10 minutes which means it can only handle about 3 transactions per second. Compare this capacity to the throughput of Visa (~1700TPS) or Paypal (193TPS) and you’ll see that, at this point, Bitcoin is a pathetically slow payment system.

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Created by Galyna 2 years 34 weeks ago – Made popular 2 years 34 weeks ago
Category: Technology   Tags: