Bitcoin scalability problem

in #bitcoin • 7 years ago

The bitcoin scalability problem is a consequence of the fact that records (known as blocks) in the bitcoin blockchain are limited to one megabyte in size.Bitcoin's blocks include the transactions on the bitcoin network.
The transaction processing capacity of the bitcoin network is limited by the average block creation time of 10 minutes and the block size limit. These jointly constrain the network's throughput. The transaction processing capacity maximum is estimated between 3.3 and 7 transactions per second.
There are various proposed and activated solutions to address this issue.

#money #cryptocurrency #altcoins #business
7 years ago in #bitcoin by
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