The Limitations with Bitcoin

It can be safe to say that when future generations look back on the crypto currency history archives — ‘bitcoin’ would be the buzzword of this era. 30 years ago Robert E.Khan released a white paper where he described the world wide web or more commonly known as “www” and it blew the way world operates.

In 2009 the white paper for blockchain and Bitcoin was produced, however, unlike the “www” term, which has been the face of the Internet revolution Bitcoin has limited itself in its development to ensure that its dominance in the crypto currency world is embedded in every blockchain conversation and transaction which occurs in this revolution.

The crypto currency world in 2017 experienced an anomaly whereby Bitcoin grew to an astonishing high of $20,000. Everyone wanted to be involved in Bitcoin without known exactly what it is. People were making money very quickly. However, the issue with an anomaly in a market is that it never lasts.

Perhaps, it could be argued that the market needed this anomaly to understand the true value of Bitcoin and perhaps it could be argued Bitcoin destroyed its own market value. This potentially paved the way to new crypto currencies and coins to develop beyond the Bitcoin blockchains.

An important concept to understand with Bitcoin is that the blockchain is limited to certain parameters.

1. It takes on average 10 minutes to produce a block
2. The block is limited to 1MB of memory
3. It requires 20,000 signatures to verify the block
4. 100M satoshis per bitcoin
5. There is a finite number of Bitcoin available to the market.

These limitations delay the transactional speed of Bitcoin. Bitcoins ‘cure’ to these limitations is the lightning network. The Lightning Network is supposed to return Bitcoiners to the days of fast transactions and low fees. The issue with this cure is that the network is still a proof of concept and there is no Beta version of the network available.

If we examine the Ethereum network and Ether coin.

1. The blockchain used in Ethereum has infinite storage capacity.
2. The miners decide on the MB level and whether or not to increase the capacity volume of each block.
3. The speed limit to mine an Ethereum coin is 14 seconds thus making it much quicker to process a transaction.

So what about TradeRisers blockchain

TradeRiser’s token is known as XTI. The token will be taking advantage of the Ethereum blockchain and associated smart contracts which can be purchased via bitcoin and ether coins.

The advantage of this allows TradeRiser to build a community empowers trust and credibility. Payment for this XTI will be in Bitcoin and Ether making it incredible easy to purchase, reward and consume.