Re:Litecoin and Ethereum buys and sells are temporarily disa...
by umanwizard on Wednesday December 13, 2017 @05:04PM
(#15918099)
Bitcoin can never achieve mainstream adoption since the transaction throughput is capped at 3 per second.
Maybe other technologies will, but Bitcoin cannot.
Re:Litecoin and Ethereum buys and sells are temporarily disa...
by aggieben on Thursday December 14, 2017 @06:59PM
(#15928573)
This is incorrect. Firstly, it's 10 per second. Secondly, it shouldn't be all that hard to imagine "side chains" or even "local-party networks" being built to handle transactions and use the underlying blockchain as a settlement mechanism. This is, as I understand it, how the lightning network works/will work, and I see no reason to think it wouldn't improve Bitcoin's adoption, which is already orders of magnitude better than other cryptos.
Re:Litecoin and Ethereum buys and sells are temporarily disa...
by melq on Thursday December 14, 2017 @08:35PM
(#15929049)
>Croman, Kyle; Eyal, Ittay (2016). "On Scaling Decentralized Blockchains" (PDF). doi:10.1007/978-3-662-53357-4_8. Retrieved December 10, 2017. The maximum throughput is the maximum rate at which the blockchain can confirm transactions. Today, Bitcoin’s maximum throughput is 3.3–7 transactions/sec [1].
1. http://www.comp.nus.edu.sg/~prateeks/papers/Bitcoin-scaling....
At some point there will be a correction. This velocity can't be maintained forever. But this is also a technology that heavily relies on going viral to become functional (payments/contracts) - and based on real world interactions I think crypto is heading towards an adoption curve that justifies its price.