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#2A new distributed version of Bitcoin is now processing 1 million transactions per second. It's doing this on a test network setup between the USA, Europe, and Asia. People said it could not be done. They were wrong. Proof of Work.
EDIT: I can see by the comments so far that nobody gets it. Well, you will get it in time. It's really happening, and yes, this is Bitcoin adherent to the original whitepaper, and in line with the original code base before it was hamstrung with unwise revisions and changes.
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#3Sounds awfully low for something that was supposed to shake the financial sector.
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#4Sounds awfully low for something that was supposed to shake the financial sector.
Bitcoin BTC tops out at 7 TPS.
Visa tops out at around 50,000 TPS.
This is just an initial target test. Bitcoin scales unbounded.
10M TPS next target.
This is also just layer 1. It's designed for additional layers expressed through transaction script (with all op_codes enabled, which unlocks a complete Forth environment).
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#5This isn't bitcoin.
And how is this going to be decentralised if its blockchain grows at 1M transactions/sec? Hardly anyone will have that kind of storage available.
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#6This isn't bitcoin. And how is this going to be decentralised if its blockchain grows at 1M transactions/sec? Hardly anyone will have that kind of storage available.
This is more Bitcoin than BTC at this point. It follows the whitepaper completely.
3 Petabytes of data after 6 months. This is all done on AWS currently.
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#7Sounds awfully low for something that was supposed to shake the financial sector.
Bitcoin BTC tops out at 7 TPS. Visa tops out at around 50,000 TPS. This is just an initial target test. Bitcoin scales unbounded. 10M TPS next target. This is also just layer 1. It's designed for additional layers expressed through transaction script (with all op_codes enabled, which unlocks a complete Forth environment).
10M tps? You're going to need a whole data centre's worth of storage to run a single node within a few years.
Extremely naive.
Bitcoin's transaction rate is 7 tps for a reason.
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#8Earlier quoted context omitted.
Bitcoin BTC tops out at 7 TPS. Visa tops out at around 50,000 TPS. This is just an initial target test. Bitcoin scales unbounded. 10M TPS next target. This is also just layer 1. It's designed for additional layers expressed through transaction script (with all op_codes enabled, which unlocks a complete Forth environment).
10M tps? You're going to need a whole data centre's worth of storage to run a single node within a few years. Extremely naive. Bitcoin's transaction rate is 7 tps for a reason.
BTC is 7 TPS because MasterCard et al neutered it.
Bitcoin is professionalizing. It's built for everything in the world to be timestamped with super low transaction fees.