🔴[BOUNTY] 🔥🔥GRABITY🔥🔥 🚀NEW PARADIGM OF INTERNET🚀 💰350,000,000GBT💰🔴

[Choco_boy]

The problem is that, today, we don’t really know the limits of the platform.

[Whyknow78]

This limitation of ethereum and other blockchain systems has long been the subject of discussion by developers and academics.

[Christ_bit]

Because of a hard-coded limit on computation per block, the ethereum blockchain currently supports roughly 15 transactions per second compared to, say, the 45,000 processed by Visa.

[Croosss123]

While ethereum developers might like to highlight how the flexible smart contract platform differs from bitcoin, for example, it isn’t unique in regards to scalability.

[Choco_boy]

As disappointing as that might sound, there’s hope in proposed solutions that haven’t made it into the official software yet.

[Whyknow78]

Why is scaling so difficult?

[Croosss123]

Ethereum and bitcoin use a combination of technical tricks and incentives to ensure that they accurately record who owns what without a central authority.

[zeabat1234]

Week#2 (21th January - 28th January)

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[Whyknow78]

The problem is, it’s tricky to preserve this balance while also growing the number of users (especially to the point where average people can use the system to purchase coffee or run applications).

[Croosss123]

That’s because ethereum depends on a network of ‘nodes’, each of which stores the entire ethereum transaction history and the current ‘state’ of account balances, contracts and storage. 

[Choco_boy]

This is obviously a cumbersome task, especially since the total number of transactions is increasing approximately every 10–12 seconds with each new block. 

[vietduc33]

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[Rimidalv]

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[Undevd]

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[Whyknow78]

The worry is that, if developers raise the size of each block to fit more transactions, the data that a node will need to store will grow larger – effectively kicking people off the network. 

[comander]

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[Christ_bit]

If each node grows large enough, only a few large companies will have the resources to run them.

[Choco_boy]

Despite the inconvenience, running a full node is the best way for users to take advantage of privacy and security.

[Croosss123]

Making full nodes more difficult to run would further limit the number of people that can verify transactions themselves.

[Whyknow78]

And simple as this:

In other words, decentralization and scalability are currently at odds, but developers are looking for ways around this.