Re:What Is Cryptocurrency: Everything You Need to Know
by mirimir on Tuesday November 15, 2016 @04:02AM
(#12956621)
Yes, that generally comports with my understanding.
The hard part will be handling enough transactions without becoming centralized. Currently, the blockchain is ~90GB. With most users on mobile devices, very few will be running full clients, because syncing the blockchain will move too much data.
So increasing block size is very contentious. One camp is OK with centralization. The other basically wants to make Bitcoin like gold, and create currencies based on it.
The hard part will be handling enough transactions without becoming centralized. Currently, the blockchain is ~90GB. With most users on mobile devices, very few will be running full clients, because syncing the blockchain will move too much data.
So increasing block size is very contentious. One camp is OK with centralization. The other basically wants to make Bitcoin like gold, and create currencies based on it.