Now, and for the last several years, scaling blockchain solutions has been a particularly poignant topic, especially for Bitcoin. With each respective hardfork of Bitcoin, there is a promise of better scalability and usability.
Despite the efforts of many other blockchains, the majority of hashing power still backs the slower incumbent, Bitcoin. Processing only 7 transactions per second is a glacial pace for the ever growing demand on the Bitcoin blockchain. So how can Bitcoin ever compete with the likes of Visa, Mastercard, or [name your favorite blockchain]?
It is easy to point out the flaws of Bitcoin, but it has two undeniable factors that make it king: reliability and network effects. Bitcoin has the core characteristics that give it a very real chance of becoming the currency for the planet. …