The Scalability Problem of Blockchains [ELI5]

Written by no profile | Published 2020/05/04
Tech Story Tags: blockchain | blockchain-scalability | security | technology | blockchain-technology | latest-tech-stories | can-blockchain-scale | trading

TLDR The Scalability Problem of Blockchains has always been a problem with the underlying blockchain that powers it. The scalability issue stems from the fact that major crypto coins such as BTC and ETH use blocks to confirm transactions. The block limit size hampers the number of transactions that can be conducted per second, which is about seven per second. If Bitcoin hopes to gain mass adoption, it would need to process thousands of transactions per second. Without this, massive delays, sometimes lasting hours, will be experienced before a transaction can be confirmed.via the TL;DR App

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Published by HackerNoon on 2020/05/04