Bitcoin sole propose is to run as independent p2p based payment system and it is working smoothly if you use enough fee on your transactions.
Blockchain tech can be used in other solutions like to build decentralized trading platform or even decentralized storage system.
Topic: Use cases that currently Bitcoin and Ethereum cannot support due to scalability (Read 433 times)
February 09, 2017, 08:33:21 AM
February 09, 2017, 02:28:21 AM
As is Bitcoin cant support being an agency or medium of payments that scales to more than a billion users. It needs another layer on top of it for transactions outside the blockchain. Ive read about Kimdotcom and Bitcache but I doubt that will happen without segwit. Maybe thats why he delayed the launch. He must be waiting for segwit thats the only reason.
Ethereum cant scale as a smart contracts platform. Nothing else to say there. I dont know why all the development is happening there.
Ethereum cant scale as a smart contracts platform. Nothing else to say there. I dont know why all the development is happening there.
February 09, 2017, 12:23:23 AM
Hi, blockchain is much hyped right now. However we haven't seen many successful use cases beyond cryptocurrency. One issue is that as a decentralized system, Bitcoin performs poorly. What are some use cases that can only be realized with more scalable blockchain solutions?
Are you saying that bitcoin design was flawed at the very beginning
regarding scalability?
Projects being implemented using blockchain technology outside of
bitcoin.
Using holographic smart-tags uniquely link a physical item with the virtual blockchain.
https://bitcointalksearch.org/topic/m.17778878
Using blockchain technology for the import and re-export process of goods in and out of Dubai
https://bitcointalksearch.org/topic/ibm-and-dubai-government-initiate-blockchain-logistics-initiative-1782126.
So there's a lot more application of blockchain technology outside of bitcoin and
a lot of industries are taking advantage of it.
Edit:
Nova LifeStyle Partnership Brings Blockchain to Furniture Market
http://blockchain-finance.com/2017/01/23/nova-lifestyle-partnership-brings-blockchain-to-furniture-market/
February 08, 2017, 11:13:29 PM
As a decentralized system btc performs poorly?
Care to explain that sentences? btc is the very definition of a decentralized system, I don't really see how it could perform poorly in this domain...
And yes scalability is a problem. But it's not a problem linked to it's decentralized nature.
Care to explain that sentences? btc is the very definition of a decentralized system, I don't really see how it could perform poorly in this domain...
And yes scalability is a problem. But it's not a problem linked to it's decentralized nature.
February 08, 2017, 06:04:06 PM
I wouldn't say that Bitcoin performs poorly, it is still the most successful application of blockchain on Earth.
The reason we don't have many real blockchain projects yet is relative novelty of this technology.
Do you think that websites created in the early 90. were sophisticated and amazing as the ones we have today?
Blockchain technology can be implemented to help us with: file storage, notary services - proving & trading ownership,
as overall identity management, it can also be used for voting, authentication, smart contracts, domain names, and many more.
The reason we don't have many real blockchain projects yet is relative novelty of this technology.
Do you think that websites created in the early 90. were sophisticated and amazing as the ones we have today?
Blockchain technology can be implemented to help us with: file storage, notary services - proving & trading ownership,
as overall identity management, it can also be used for voting, authentication, smart contracts, domain names, and many more.
February 08, 2017, 04:47:48 PM
Hi, blockchain is much hyped right now. However we haven't seen many successful use cases beyond cryptocurrency. One issue is that as a decentralized system, Bitcoin's performance has suffered severely. What are some use cases that can only be realized with more scalable blockchain solutions?
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