Re:Bitcoin: Who owns it, who mines it, who’s breaking the law
by coralreef on Friday October 15, 2021 @11:59AM
(#28879213)
Now include a future discounted transaction flow of a growing sidechain (Lightning network) that also "settles" transactions off the main chain.
1 main chain transaction != 1 transaction
In the same way Visa uses a centralized database to "handle" millions of transactions, Coinbase/Paypal/Square can offer inter-user transfers that occur off the main chain too, scaling to the millions.
These are apples and oranges, if you want to compare transactions, you should first define what a "transaction" is. A bicycle is more energy efficient than a car, but that doesn't mean they solve the same problem.
1 main chain transaction != 1 transaction
In the same way Visa uses a centralized database to "handle" millions of transactions, Coinbase/Paypal/Square can offer inter-user transfers that occur off the main chain too, scaling to the millions.
These are apples and oranges, if you want to compare transactions, you should first define what a "transaction" is. A bicycle is more energy efficient than a car, but that doesn't mean they solve the same problem.