People are thinking what's the best way to get rid of this
blockchain network congestion.
Network congestion is a problem for us because it affects the fee. The normal fee is just around $1 but this month we are experiencing a very high fee which is unaffordable to most people.
We found out that the reason of this issue is because of brc-20 tokens, they use Bitcoin blockchain. And since Bitcoin's blockchain is only process
7-10 transactions per second which is not enough to manage all the transaction if we included the brc-20 tokens.
Now, is the problem will be fixed if brc-20 tokens will be removed?
Yes, very possible, but how? Brc20 tokens keeps improving and lot of brc20 token is being launch everyday.
The total confirmed
market cap of brc20 tokens that is listed in Coinmarketcap is $3b with a $1b trading volume which is very difficult to stop.
The other solution to fix network congestion is to increase the block size. Is increasing the block size fix network congestion?
Definitely yes, and there is no need to eradicate brc20 tokens.
But in what way? Is it really possible to increase the block size of Bitcoin? For sure there's a reason why Nakamoto put only a very limited block size.
I have found another solution to remove this obstacle in Bitcoin but I don't know if this idea is acceptable to the majority. If you remember what happen to
Ethereum way back 2017, it encountered this such problem.
They made Ethereum to POS from POW as a solution to this problem, and it's called
ETH 2.0If there will be a Bitcoin 2.0 or a change of network from POW to POS then not only the network congestion is being fixed but many more, and also it can reduced the energy consumption.