Red Belly Blockchain capable of outperforming Visa and MasterCard in TPS

— Bitcoin’s popularity as a mainstream method of payment has been impeded by the slow processing speed of transactions — a transaction can take anywhere between 15 minutes and a few hours to process.

— According to reports, Red Belly Blockchain, a new distributed ledger technology developed by the University of Sidney’s School of Information Technology can process transactions almost eight times the volume of transactions processed by conventional payment networks such as Visa, making it one of the fastest methods of processing payments.

MY STANDPOINT

Bitcoin takes 10 minutes on an average to add a block if your transaction is lucky enough to be included on that block. At times, it takes hours and hours for transactions to get confirmed. If Red Belly is able to solve this problem for all transactions on the blockchain, it might just become the next big thing in the crypto world.

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