why scalability is so important for blockchian?

[furball64]

hey guys, why do you think scalability is so important for blockchian?

Because scalability affects network speed. The greater the scalability, the more transactions per unit time a network can transmit. That is why many people and investors pay attention to this blockchain indicator before investing.

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[firmino10]

I think Scalability is a very important feature of a blockchain because it affects the network speed of the transactions carried out on the blockchain. Blockchain like bitcoin and ethereum are not that scalable as they only process 5 and 15 transactions per second respectively.

[teddyelwyn]

As more people start to incorporate cryptocurrency in their daily lives the more people will be utilizing the network at one time. Imagine how heavy of weight that is on the blockchains to verify the transactions. If the blockchain isnn't ready to take on the amount of work then it will slow down the entire network aka the scalability isn't there yet

[hulla]

scalability on its own is not important at all otherwise a lot of altcoins would have been worth $1 million per coin already!

what matters is scalability alongside decentralization. which happens to be the main reason why those altcoins are failing instead of rising in value.
the importance is that we already have payment systems that can handle thousands of transactions per second. example of which is Visa or Paypal,... but we only have one decentralized solution and it remains that way by having certain limitations because it is a sacrifice. you can't gain decentralization and not give up something else.

You make a good statement. Both scalability and decentralization play a vital role in crypto project success but the decentralization or scalability was not the one reason why altcoin didn't worth $1 million per coin or surpass bitcoin market price because the surge in price and the survive level of a coin in the crypto market are measure by the trust/support the community has in a certain project.
 The reason why most altcoin failed is because they are highly manipulated so investors invest most in safe coins and we can glare see that in bitcoin, ETH etc despite all the FUDs the coins still come out strong.

[nwosuchristabe2]

It's an obvious fact that cryptocurrency and blockchain awareness has been on the increase lately, several people are joining the industry daily and need to access the same platform used by others, scalability is important to give them the access they need without overloading the structures in place.

[forexandcryptoauditor]

Scalability represents the capability and compatibility of the dApp, which will be residing in that blockchchain.
If the platform is not compatible to our software, why should we chose that platform?
I think, while checking the criteria to build any dApp on any particular blockchchain, scalability is the first factor to be considered. Next we can think about transparency and security.

[wina1966]

Hi, I have read a lot about your analysis. I appreciate the knowledge about your blockchain. I have also recently invested in coins, so I need to learn from previous people like you. You can view my household on ILCoin because it is an alcoin with the current speed of 25M and it has C2P technology which is certified with quantum resistance, avoiding 51% attack and at the end of the year it will integrate speed Rift technology. height with 3.8 GB block size and 5 smart contract types. it has many other technologies yet to be disclosed but they think that the ILC will change the way the world thinks about blockchain. It will be the money to bring the blockchain from the current darkness to light. And ILCoin is the complete and advanced version of BTC they can be the people of the development team of BTC satoshi nakamoto