Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Beginners & Help
Re: Will confirmations be faster, the more people become part of the network?
by
SelbyTsang
on 03/05/2014, 13:45:59 UTC
Quote from: ParsnipCommander on May 03, 2014, 01:09:19 PM
Quote from: SelbyTsang on May 03, 2014, 12:49:14 PM
Quote from: pinksheep on May 03, 2014, 11:46:05 AM
What about the problem that BTC can only cope with so many transactions a second (can't remember exactly how many offhand)  - can
that be overcome?

Currently the maximum block size is 1MB. With average 10 minutes a block, it is about 7 transactions per second.
You can find more info here. https://bitcointalk.org/index.php?topic=352118.0

WHAT!!!!!!???

Only 7?Huh  Cry Cry Cry Cry Cry

Yes, the limit is 7 tps now.
But, the current situation is, we are not even close to that.
You can find that the average block size now is still lower than 300 KB on https://blockr.io/charts while the limit is 1 MB.