Which of the leading cryptocurrencies will become more scalable and efficient in the long term?
Will it be Bitcoin with its Layer Two solutions such as the Lightning Network and Sidechains?
Or Bitcoin Cash with its on-chain scaling solutions by increasing the block size limit?
I would like to know your thoughts about this.
Will it be Bitcoin with its Layer Two solutions such as the Lightning Network and Sidechains?
Or Bitcoin Cash with its on-chain scaling solutions by increasing the block size limit?
I would like to know your thoughts about this.
I'm no technical expert. But even in the early years of Bitcoin I believe that Hal Finney said that scaling will have to happen via several layers.
The biggest problem for solely on-chain scaling is the bandwidth. Furthermore the larger the blocks get the harder it will be to run a full node. We would lose decentralisation if we would try to scale on-chain only. And this would offer a huge attack vector to shutdown Bitcoin.
Second and third layer solutions imo are the only way not to mess up with Bitcoin as a decentralized censorship resistant protocol, platform and future currency.