During discussions and debates related to Bitcoin scalability, the idea of the blockchain handling Visa levels of transactions per second is often mentioned. While reaching Visa’s 150 million processed transactions per day may seem like a lofty goal right now, the reality is that Bitcoin will need to be able to handle a number of transactions many times that amount in order to reach its full potential. This is mainly due to the fact that Bitcoin has the potential to enable completely new types of transactions that have not existed in the past.
Online Micropayments
The clearest example of a new type of payment enabled by Bitcoin that could require the blockchain to handle many more transactions per day than current payment systems is online micropayments. Many Bitcoin supporters believe that Bitcoin could revolutionize the online content industry by allowing readers, viewers, and other content consumers to make small payments for articles, videos, podcasts, and other forms of content rather than viewing advertisements or purchasing a subscription.
http://coinjournal.net/bitcoin-will-need-to-scale-to-levels-much-higher-than-visa-mastercard-and-paypal-combined/
Topic: [2015-10-16] Bitcoin Will Need to Scale to Levels Much Higher Than Visa, MC & PP (Read 245 times)
October 16, 2015, 10:09:45 AM
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