Post
Topic
Board Nigeria (Naija)
Re: Was Bitcoin scalability ever an issue?
by
Antotena
on 12/11/2023, 15:17:52 UTC
Scalability has been a major issue for Bitcoin since its inception. The number of transactions that the Bitcoin network can process is limited by its block size, which is currently 1 MB. This has led to long transaction times and high fees. Some people have proposed solutions, such as SegWit and Lightning Network, but these have not been widely adopted. Scalability remains a major challenge for Bitcoin.

Perhaps you need to check this chart to see how segwit bitcoin wallet address has been adopted many times. Since the soft fork, not one day has that chart fac decline for once, it has been on its all time high and still growing. To backup my argument, check mempool.space explorer for the pending transactions and comfirm transaction, it contains almost all segwit transaction with address that start with bc1q

The adoption should have passed this level but some wallets and exchange are very lazy to adopt this despite the fact that it's compatible in a way that they can wrapped their previous addresses as nested segwit but they prefer previous type of wallet addresses.

As LN network I think the reason why it hasn't getting that massive attention is because bitcoin legal tender is very low, how many people use bitcoin for day to day transaction, only few, the rest are happening onchain transaction that is why it hasn't gotten that kind of widely adoption. But people still use it, it will get better with time.