Author

Topic: [2018-11-22] Interoperability and Scalability are Key for Blockchain in 2019 (Read 142 times)

legendary
Activity: 1526
Merit: 1179
So, the question is, if all blockchains were suddenly to become scalable, would this solve the lack of user activity? I don't think so, there are tons of other problems, and most importantly, general population is just uninterested in blockchain.
I don't think it's that people aren't really interested in the blockchain, because they are and think it will be huge which makes them invest in this space, but there is no actual use to back it up.

In most countries people don't need crypto currencies because their regular system does its job well enough. We may think the regular system sucks, but if the average joes don't see it as such, they won't come over.

In order for people to start using crypto, the regular system needs to mess up so hard, that they have no other option than to adopt crypto currencies. Bitcoin's white paper popped up during the credit crisis with a reason.
legendary
Activity: 2170
Merit: 1427
At least next year, Bitcoin should finally solve its overripe scalability problem, which still amounts to seven transactions per second. If he does not solve this problem, then he may be in big trouble. True, it remains to be seen how the current fall for Bitcoin will end, in general, its popularity is falling.

It may shock you, but Bitcoin's transaction throughput currently is like 3-4 per second. You shouldn't pay attention to theoretical transaction throughput per second figures, because real world usage easily nullifies these figures. What matters is transaction throughput per second based on how much block space is being used.

If we look at the top 6, then this is how things currently look;

1- EOS 16-17 transactions per second.
2- Ethereum 6-7 transactions per second.
3- XRP 4-5 transactions per second.
4- Bitcoin 3-4 transactions per second.
5- Ethereum Classic 0.55 transactions per second.
6- Litecoin 0.28 transactions per second.
newbie
Activity: 113
Merit: 0
Scalability is always great, but so far only Bitcoin and Ethereum have historically reached the limits of their blockchains, while other projects have 99.9% of their capacity unused. So, the question is, if all blockchains were suddenly to become scalable, would this solve the lack of user activity? I don't think so, there are tons of other problems, and most importantly, general population is just uninterested in blockchain.

What is worse is that even tech savvy guys, scientists, economists and others who seemingly should be interested in blockchain technology are mostly not interested in it. It looks like they have no time for examining the subject even a bit, because if they would do that they would see that it's not just another financial pyramid, but rather something without which future world is hard to imagine. I think we still lack a simple yet powerful explanation of what blockchain technology is, because we would have all those guys on our side otherwise.

Speaking as someone with a computer science background, I think that computer scientists are interested in blockchain technology. The technology itself is good, and won't be going anywhere. However, again from a comp.sci background, I think that blockchain and digital currencies have been over-hyped, over-valued in the market, and in my opinion used for scams (Bitconnect as an example.) This has tarnished the technology by association, and I do notice people in the community distancing themselves from named coins such as Bitcoins, often being at pains to distance themselves from Bitcoin lest they be lumped together with things that the would rather not.

So, I don't think it's a lack of a description of what blockchain technology is that is the problem. People in comp.sci understand the technology. It's the tarnishing of the reputation that is a bigger problem. As I view it.

I'm a big fan of digital currency technology. But, when I read posts on Bitcointalk, too often they are just people predicting huge price rises 'moon' or values dropping to zero 'gloom' with no cogent argument for either type of prediction. That's really painful to see.
legendary
Activity: 3374
Merit: 2198
I stand with Ukraine.
Scalability is always great, but so far only Bitcoin and Ethereum have historically reached the limits of their blockchains, while other projects have 99.9% of their capacity unused. So, the question is, if all blockchains were suddenly to become scalable, would this solve the lack of user activity? I don't think so, there are tons of other problems, and most importantly, general population is just uninterested in blockchain.

What is worse is that even tech savvy guys, scientists, economists and others who seemingly should be interested in blockchain technology are mostly not interested in it. It looks like they have no time for examining the subject even a bit, because if they would do that they would see that it's not just another financial pyramid, but rather something without which future world is hard to imagine. I think we still lack a simple yet powerful explanation of what blockchain technology is, because we would have all those guys on our side otherwise.
sr. member
Activity: 2352
Merit: 245
"2019 could be an exciting year for blockchain development as lots of projects mature and focus on interoperability."

https://medium.com/swlh/interoperability-scalability-key-for-blockchain-in-2019-68605cfad7a2
At least next year, Bitcoin should finally solve its overripe scalability problem, which still amounts to seven transactions per second. If he does not solve this problem, then he may be in big trouble. True, it remains to be seen how the current fall for Bitcoin will end, in general, its popularity is falling.
legendary
Activity: 3024
Merit: 2148
Scalability is always great, but so far only Bitcoin and Ethereum have historically reached the limits of their blockchains, while other projects have 99.9% of their capacity unused. So, the question is, if all blockchains were suddenly to become scalable, would this solve the lack of user activity? I don't think so, there are tons of other problems, and most importantly, general population is just uninterested in blockchain.
member
Activity: 166
Merit: 10
"2019 could be an exciting year for blockchain development as lots of projects mature and focus on interoperability."

https://medium.com/swlh/interoperability-scalability-key-for-blockchain-in-2019-68605cfad7a2
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