someone makes a topic about BITCOIN BLOCKCHAIN
and the usual tribe of alternative network adorers come in and advertise other networks
oh and lightning has a liquidity bottleneck problem that only gets worse the more popular it gets
other alternative networks will come about some that direct bridge to bitcoin and only bitcoin as the "layer2" proposition. but some will just be for niche utility. and small value amounts. and others will bridge to multiple mainnets of multiple blockchains.
but lightning is not one that will cope with mass adoption to pay anyone without middlemen
Topic: Bitcoin Blockchain Transactions Per Second - page 2. (Read 261 times)
Bitcoin transaction cannot be compared with a centralized institutionizations that has to go through various channels before getting confirmed unlike bitcoin, the transaction charges is another benefit we take advantage of from bitcoin transaction which is fare enough cheaper and faster, scalability challenges could also be evaded through the bitcoin lightning network under the layer 2 protocols.
One approach to scaling Bitcoin is through the use of layer two solutions such as the Lightning Network.
The Lightning Network is a second layer protocol that sits on top of the Bitcoin blockchain and allows for faster and cheaper transactions by using off-chain transactions that are settled periodically on the blockchain.
This approach can significantly increase the TPS rate while maintaining a high level of decentralization.
The Lightning Network is a second layer protocol that sits on top of the Bitcoin blockchain and allows for faster and cheaper transactions by using off-chain transactions that are settled periodically on the blockchain.
This approach can significantly increase the TPS rate while maintaining a high level of decentralization.
another approach would be the use of Side Chains, these are separate blockchains that are pegged to the main Bitcoin blockchain and allow for the processing of transactions in parallel.
Sidechains can be used for specific use cases, such as smart contracts or asset tokenization, and can help to reduce the load on the main Bitcoin blockchain while maintaining decentralization.
One approach to scaling Bitcoin is through the use of layer two solutions such as the Lightning Network.
The Lightning Network is a second layer protocol that sits on top of the Bitcoin blockchain and allows for faster and cheaper transactions by using off-chain transactions that are settled periodically on the blockchain.
This approach can significantly increase the TPS rate while maintaining a high level of decentralization.
The Lightning Network is a second layer protocol that sits on top of the Bitcoin blockchain and allows for faster and cheaper transactions by using off-chain transactions that are settled periodically on the blockchain.
This approach can significantly increase the TPS rate while maintaining a high level of decentralization.
You should note that Bitcoin transactions are final, while fiat transfers through different channels are not, at the time when it reflects. This makes it a lopsided comparison to make.
That aside, there has been improvements over the years to scalability, with both off chain and on chain solutions, and there would be more in the coming years, while maintaining decentralization.
That aside, there has been improvements over the years to scalability, with both off chain and on chain solutions, and there would be more in the coming years, while maintaining decentralization.
We already have the lightning network, which should be capable of handling way more transactions than Visa does:
https://twitter.com/Blockstream/status/1502115599874359297
https://twitter.com/Blockstream/status/1502115599874359297
The Bitcoin Blockchain can only process around 5 Transactions Per Second (TPS) give or take.
When you compare this to VISA which has a TPS rate of 2000+ it seems very low.
If Bitcoin is going to become mainstream in the future the TPS needs to increase greatly.
Is there a way to increase the scalability whilst also maintaining a high level of decentralisation?
When you compare this to VISA which has a TPS rate of 2000+ it seems very low.
If Bitcoin is going to become mainstream in the future the TPS needs to increase greatly.
Is there a way to increase the scalability whilst also maintaining a high level of decentralisation?
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