Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: How Can I Pay Lower Bitcoin Transaction Fee and Not Get Stuck?
by
LoyceV
on 30/12/2023, 10:42:14 UTC
⭐ Merited by pooya87 (2)
There are decentralized chains that have higher TPS than btc.
True, but how successful are they? And how many transactions do they actually process? Bitcoin's blockchain is currently 569 GB. Chainstate is already 9.4 GB. If blocks would have been 10 times larger, spammers could still easily fill them with transactions. If the current blockchain and chainstate would have been 10 times larger, you'd need 8 TB SSD and 128 GB RAM to run a node. That's still possible, but most consumers wouldn't do it anymore.
I really hate high fees, and I really want to see a solution for the low transaction throughput, but on-chain scaling can't be enough to reach mass-adoption. Google tells me Visa processes 242 billion transactions per year. That's not a problem for a huge centralized database with many backups, but it's impossible to decentralize to tens of thousands of nodes.