You can use off chain solution like Bitcoin Lightning Network.
[Table] All Lightning Network Threads In One Place
For onchain, I like how it is now because Transactions per second, transaction time is not my most concern when using Bitcoin blockchain. I care more about security and safety of my transactions on Bitcoin blockchain. If the Bitcoin blockchain with it current parameters, can provide me safe and secure transactions, I like how it is.
https://howmanyconfs.com/
Topic: Can Bitcoin transaction time reduce in future? - page 4. (Read 568 times)
Currently it takes 1-3 hours for a transaction to complete if we do it with less fee? Is it possible in future that this transaction time will reduce or may be even become instant? Like when all Bitcoins are mined and there are mainly holders instead of traders and volume of transactions decline.
If we don't change the protocol, the average time between 2 blocks will allways be ~10 minutes. So, even when most of the blocks are (allmost) empty, the average CONFIRMATION time will always be ~5 minutes.
AFAIK, the mempool has been flooded with ordinal transactions for quite a while now. I had hoped this was a fad that would have been long gone by now, but they keep broadcasting transactions... If they'd stop, and people would make less than 1 Mb of transactions per 10 minutes (excluding the witness data), you'd be able to send 1 sat/vbyte transactions once again and get them confirmed after an average time of ~5 minutes (after the backlog has cleared offcourse).
By the way, transactions are broadcasted allmost instantly... They remain in the mempool of the nodes untill they end up in a block, it's this process that takes very long ATM.
If you want cheaper fees, or faster confirmations, you should either look at altcoins, sidechains and/or offchain sollutions.
Currently it takes 1-3 hours for a transaction to complete if we do it with less fee? Is it possible in future that this transaction time will reduce or may be even become instant? Like when all Bitcoins are mined and there are mainly holders instead of traders and volume of transactions decline.
Jump to: