Bitcoin scalability problem
Scaling problem in bitcoin processing / From Wikipedia, the free encyclopedia
The Bitcoin scalability problem refers to the limited capability of the Bitcoin network to handle large amounts of transaction data on its platform in a short span of time.[1] It is related to the fact that records (known as blocks) in the Bitcoin blockchain are limited in size and frequency.[2]
Bitcoin's blocks contain the transactions on the bitcoin network.[3]:āch. 2ā The on-chain transaction processing capacity of the bitcoin network is limited by the average block creation time of 10 minutes and the original block size limit of 1 megabyte. These jointly constrain the network's throughput. The transaction processing capacity maximum estimated using an average or median transaction size is between 3.3 and 7 transactions per second.[2] There are various proposed and activated solutions to address this issue.