Bitcoin Forum
May 30, 2024, 08:46:46 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: How can the scalability issue of bitcoin be solved?  (Read 129 times)
karlkino (OP)
Newbie
*
Offline Offline

Activity: 39
Merit: 0


View Profile WWW
April 01, 2018, 09:12:28 AM
 #1

I recently found out about bitcoin and I've been trying to figure out a way to fix the issue of scalability as this has been the major reason why transactions are so expensive or rather slow depending on your preference. This has made it rather difficult for its integration on platforms that require speed or very affordable transaction fees. Is there a way to go about resolving that issue?
Xavofat
Hero Member
*****
Offline Offline

Activity: 938
Merit: 559

Did you see that ludicrous display last night?


View Profile
April 01, 2018, 10:16:12 AM
 #2

this has been the major reason why transactions are so expensive or rather slow depending on your preference.
For a couple of months now it's been perfectly fine.  You can comfortably send transactions with fees of <$0.1 and expect them to confirm in at most half an hour, as you can see here.

But I still agree that scaling is necessary, since increased demand for transactions would end up pushing up fees/transaction times again and that's fairly likely to happen eventually.  

In the short to mid term, the best way to increase the network's capacity is to begin sending SegWit transactions.  Currently, they only make up about a third of total Bitcoin transactions, and therefore SegWit hasn't been used to its full potential yet.

Another proposal for scaling was the use of Schnorr signatures, which could also be implemented through a soft fork.
harrypot
Newbie
*
Offline Offline

Activity: 294
Merit: 0


View Profile
April 03, 2018, 04:03:20 PM
 #3

The bitcoin scalability problem refers to the discussion concerning the limits on the amount of transactions the bitcoin network can process. It is related to the fact that records (known as blocks) in the bitcoin blockchain are limited in size and frequency. Bitcoin's blocks contain the transactions on the bitcoin network.
Kprawn
Legendary
*
Offline Offline

Activity: 1904
Merit: 1073


View Profile
April 03, 2018, 04:11:06 PM
 #4

What scaling problems? Bitcoin has not had problems with scaling for a few months now... the MemPool has been almost

empty for the last 3 months. On top of this, the developers are working on the Lightning Network that would scale to

infinity, because most transactions will be done off-chain. You obviously have not followed the progress that was made for

a while now.  Roll Eyes

THE FIRST DECENTRALIZED & PLAYER-OWNED CASINO
.EARNBET..EARN BITCOIN: DIVIDENDS
FOR-LIFETIME & MUCH MORE.
. BET WITH: BTCETHEOSLTCBCHWAXXRPBNB
.JOIN US: GITLABTWITTERTELEGRAM
1C6fV5DtakfKANLJ8GUV7hCaA
Full Member
***
Offline Offline

Activity: 462
Merit: 104


Crypto Marketer For Whales


View Profile WWW
April 06, 2018, 04:02:07 AM
 #5

Again, Bitcoin was built for security, not speed. The past few months transactions were smooth. Fees are cheap. What's the problem? None really.

Buy Reddit Accounts & Upvotes
Discord: Playerup#6929
Skype: AWH2010
Telegram: @redditfactory
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!