Can bitcoin scale on chain by using bigger blocks? If Bitcoin uses todays hardware can it compete with VISA?
TPS - Transactions per second
Visa on average handles 2,000 TPS reaching a daily peak of around 4000 TPS.
As the Bitcoin Core (BTC) network is now throttled at 1MB it can handle around 3TPS with no working 2nd layer solution.
Bitcoin Cash (BCH) can currently handle 100 TPS on-chain without the need for any 2nd solutions. The block size is 32mb for BCH.
Ethereum currently handles around 19 TPS.
The bitcoin scaling debate has gone on for a long time. It's important to understand the facts.
Can the Bitcoin Cash network increase block size further using hardware that exists today? To reach 1,000, 2,000 or even 10,000 TPS?
A lot of Bitcoin Core (BTC) supporters will say that scaling on chain with bigger blocks in not a long term solution and we will hit a ceiling because of hardware. Roger Ver takes the time to break all of this down in the video above. It simply is not true.
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Topics covered: bitcoin scaling, bitcoin scaling debate, segwit, lightning network, bch, bitcoin cash.