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Title: SCALABILITY IS A PRIORITY Post by: Rummypandwar on April 10, 2020, 11:15:24 AM Increasing network capacity is crucial for Bitcoin’s long-term success. Finding a workable scaling solution has been by-far the most difficult and contentious challenge faced by Bitcoin advocates.
The adoption of Segregated Witness (SegWit) enabled the creation of the Lightning Network (LN), which in theory solves the scaling problem. However, LN use has been anaemic since its launch. Apps and wallets that use the protocol are not user friendly, and it remains more of a novelty than a core function of the platform. This fact may soon change as the network grows. Presently, daily transaction levels are low enough for all to easily move on-chain without help from the LN. Bitcoin will begin to see problems once daily volume is roughly double what it is now, which is all but certain to happen. At that point fees and slowing confirmation times will make using the LN far more attractive. Source : https://bitcoinist.com/3-major-developments-that-will-change-how-you-use-bitcoin/ Title: Re: SCALABILITY IS A PRIORITY Post by: Rummypandwar on April 10, 2020, 12:09:03 PM There are other scaling solutions in the works as well. Liquid, promoted by Blockstream, is growing rapidly. In fact, as Longhash recently pointed out, more Bitcoins are tied to Liquid than the LN at the time of writing:
https://mobile.twitter.com/longhashdata/status/1243251812251156482?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1243251812251156482&ref_url=https%3A%2F%2Fbitcoinist.com%2F3-major-developments-that-will-change-how-you-use-bitcoin%2F |