Nearly 15 years after Bitcoin instigated the digital monetary revolution, its perception is now nestled as sound money. Following dozens of hard forks and developer attempts to tweak Bitcoin’s core code, the pioneering cryptocurrency settled on decentralization and sound incentive structure for miners.
Both were vital for Bitcoin to power through market crashes, media attacks, and government attempts to ban it. Yet, even with the effective increase of its block size to 4 MB in 2017 via the SegWit upgrade, Bitcoin’s wider adoption as daily currency cannot rely on its mainnet:
Larger block size would reduce transaction fees as more transactions per block could be processed. But this would lead to larger computing and storage demands, triggering network centralization.
By the same token, larger block size would increase Bitcoin mainnet throughput above the present 7 transactions per second. Therefore, this would lower fees as network activity (adoption) increases.
In other words, Bitc
We współpracy z: https://cryptoslate.com/analyizing-the-impact-of-second-layers-on-bitcoins-ecosystem/
