Is SCALABILITY an issue?
With the interest in cryptocurrency rising, we are seeing issues with Bitcoin and other alt coins. Scalability is one of them ... apparently.
I'm saying ''apparently'', because I think we are missing out the point here. Scalability is already there.
We, humans, like to sort out problems and arrange them in a certain way we are use to. We are doing the same with messy crypto market.
We are all for decentralization of currency, however, we all want THE fast, THE scalable, THE one, THE big decentralized cryptocurrency, but it's a contradictory idea. Having many options in which you can spread your money around is the perfect way of decentralization AND scalability. We must make sure to always have options when it come to cryptocurrencies!
It's the same for the internet boom in the 1990's. They lost control of media coverage with internet, since people could search and post whatever content they wanted. Remember what Andreas Antonopoulos said : Bitcoin is not a currency : It's the internet of money (talking about the blockchain). Now, everybody can own or create new currency.
The idea of having MANY crypto's based on blockchain is, in fact, resolving the scalability issue. But not for the people who want global control.
The concept of scalability in one cryptocurrency is not our goal, it's theirs. Instead of creating sidechains (kind of new bank account), why just not create another crypto?
What's your idea about this reflexion? Making 1000 of Bitcoin cryptocurrencies and call them Bitcoin1, Bitcoin2, Bitcoin3 ??? Haha
Make sure to upvote and leave a comment if you like the idea ! Peace !
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nah scalability is not an issue being a developer i can tell you that the solutions to scale BTC are already here but consensus is an issue.I guess every one likes the idea of Lightning network so we may have consensus .
I didn't like what I saw with the lightning network at first. The idea of creating IOU's and limit between two peers ...
I might have to look deeper more into it for better understanding.
Nah your'e right i didn't really like Lightining network at first either but when you study how Visa and other such systems are working at-least on the technical end you tend to think that lightning network is ok .The one thing i am impressed by is the fact that people are constantly working on improvements but i think consensus is the key and it appears that lightning network has enough of a consensus.Always remember as long as the code is open source its still a win in comparison to how traditional systems work.
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