Looking at the long queue of 40K unconfirmed transactions currently affecting Bitcoin,
https://blockchain.info/unconfirmed-transactions how can Dash prepare for a sudden influx of transactions in the size of the Bitcoin network?
I am of course aware of our block time of 2.5 minutes, and the decision to increase the block size to 2MB should this be necessary. This would provide almost a 8x increase of the capacity compared to the Bitcoin network and that is great. But then what? I admit to not be fully up to speed with the coming features of evolution, but
are there measures to increase the transaction capacity by utilizing the masternode tier in some fashion? If most transactions were an InstantSend transaction, this would not increase the transaction throughput per say, but it would get the funds around faster as the transaction would be confirmed and the receiver would at least have the perception that the network is working efficiently. Besides InstantSend, are there other blockchain implementations being addressed to help make Dash a true global digital cash with a capacity that can rival VISA/Mastercard/Paypal?
I didn't have access to my account from my phone earlier, and wanted to answer / speculate on your questions here when I read your post
So, first, yes, as of right now, we have plans that put us at 8X the capacity of Bitcoin (thought those 2mb blocks won't be implemented until there is need) So that's all traditional / normal / current technology that should cover us for the next few years, but then what? Well, if segwit can be implemented while preserving account information for people (we could do a hybrid with some info on blockchain and other info in the Dash Drive?) there is also blockchain pruning if that solution ever pans out, and last, hopefully never ever, and IMO least, is off chain transactions. Undoubtedly there will be other ideas that come up. So far no solution is without a cost. In the end, the technology will simply have to keep up. Bandwidth and storage might simply have to be expanded.
You know with Masternodes, we can instantly process an unlimited number of transactions per second using IS technology. I guess it's the miners that have to write things into the blockchain where the bottle neck happens. If that's the case, and if we switch to making every transaction an IS transaction, then we could have miners create blocks once an hour, and make those blocks as big as necessary. The miners would download as much as they can in that time, commit the transactions to the block, and what isn't committed goes in the next block an hour later.
I really don't know if that helps, as it's a simplification of what I understand is the problem from others who have posted?? But certainly there is a lot of room for creativity, and if we have 8X the block transactions of Bitcoin in the next 4 or so years, and my estimate of time needed to solve this problem is good, we'll be in excellent condition!