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Photo by Felix Mittermeier on Unsplash

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. …

About

Ken Gaulter

CTO @ Gilded. Data hoarder, robot builder, and everything decentralized

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