Hello guys,
I have just one question. I am collecting some information about Bitcoin Scalability for my school work. Can please someboy write me all methods which are considered as Bitcoin scalability solutions ? when I try to google it everything what I found is:
- Hard Fork - change block size
- Lightning Network
- Sharding
Is there any other methods which might solve the bitcoin scalability problem ?
Thank you.
With the first two methods you will have material to create a nice work for your school, just find information about how those options fight against the Scalability...
*Bigger blocks mean more transactions inside each block but a bigger blonchain in the long run.
*Lightning Network is a little more complex, but it opens payment channels, and it cost only one transaction to open the channel and another to close it.
the first one is scaling bitcoin. the other two are locking funds and diverting people over to other networks using pegged tokens not real bitcoin.. its like converting gold to a bank note
lightning doesnt use blockchains and doesnt have the mass validation and is more private. thus comes with risks
sharding is more regional blockchains with a master chain.
a true scaling solution is ofcourse allowing more transactions on the bitcoin network and not trying to make using bitcoin too expensive to use.