Hacker Noon March 8, 2020
Scalability has proven to be the single biggest roadblock to the mainstream adoption of blockchain technology today. While Bitcoin is impeccable as far as security and decentralization are concerned, it’s an entirely different story when it comes to scalability (measured in terms of TPS, or tranactions per second) – Bitcoin manages a measly 4 TPS when compared with Visa’s 1700 TPS.
Ethereum, the market leader for supporting smart contracts and decentralized applications (DApps), fares slightly better at ~10 TPS on an average day and 20 TPS at best.
As a report by Deloitte puts it, “Blockchain’s sluggish transaction speed is a major concern for enterprises that depend on high-performance legacy transaction processing systems.”
The year 2017 introduced the...
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