Hey guys, what exactly is the benefit of this coin over regular bitcoin? Does it have the same blocksize limit problem that BTC has right now?
Bitcoinplus don't have scalability problems. The Block is 50% Bigger and 10 times faster. Bitcoin (BTC) holds only 3.37 transaction per second vs Bitcoinplus (XBC) holds 50.5 transactions per second, in another words, Bitcoinplus supports 15 times more transactions than Bitcoin. Another vantage is the PoW vs PoS . The mining Hardware never will be obsolete and BitcoinPlus has native integration with Tor , make the transaction private.
BTC 3.37 Transactions Per Second --
VS --
XBC 50.5 Transactions Per SecondSo how many BTC transactions will fill a Bitcoin Block ?
This is simply -
Maximum Block Size / Average Transaction Size = Average Transactions Per Block
1000000 Bytes / 495 Bytes = 2020 Transactions
A new Bitcoin Block should be found by miners every 10 minutes. There are 600 seconds in 10 minutes.
To calculate Transactions per Second this is simply -
Number of Transactions Per Block / Block Time in Seconds
2020 Transactions / 600 Seconds =
3.37 Transactions Per SecondNow that BTC has reached a good level of adoption the block size limit is frequently reached. Transactions that are not processed are rolled over into the next block. Priority is given to Transactions that include a higher transaction fee. It is not a perfect system by any means which is why there is an ongoing debate at the moment in making sure Bitcoin is scalable.
So how will this effect BitcoinPlus - XBC ?
For starters BitcoinPlus has a much shorter average block time. 60 seconds compared to Bitcoins 600 seconds. So straight away BitcoinPlus can already handle 10 times as many transactions every 10 minutes.
The Block size limit in BitcoinPlus is also larger at 1.5MB or 1500000 Bytes.
This is highlighted in the source code -
https://github.com/bitcoinplusorg/xbcwalletsource/blob/master/src/main.h#L32The average Transaction size of BitcoinPlus is very similar to Bitcoin. Using the Bitcoin average of 495 bytes we can work out how many transactions BitcoinPlus can handle every block.
Maximum Block Size / Average Transaction Size = Average Transactions Per Block
1500000 Bytes / 495 Bytes = 3030 Transactions
To calculate how many transactions per second this is simply
Number of Transactions Per Block / Block Time in Seconds
3030 Transactions / 60 Seconds =
50.5 Transactions Per SecondYou can see therefore It is going to be a very long time before BitcoinPlus has to worry about any scalability issues. If BitcoinPlus - XBC did ever reach mass user adoption will would be able to look at Bitcoin and Litecoin and see what works and what doesn't and implement the most suitable solution for BitcoinPlus.
Show Posts
