January 2019
Intermediate to advanced
258 pages
7h 12m
English
Content preview from Blockchain for Business 2019
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Scalability
Blockchains, at present, are notoriously slow compared to centralized payment processing networks, such as Visa, Mastercard, and PayPal. Bitcoin's blockchain can currently process only up to seven transactions per second. Ethereum's blockchain is a bit faster and can currently process up to 30 transactions per second. Compare this to Visa and Mastercard, which can handle up to about 50,000 transactions per second. PayPal has registered a peak throughput of 450 transactions per second, as shown in the following diagram:
Clearly, one of the main scalability bottlenecks for both Bitcoin and Ethereum is the Proof-of-Work global consensus ...
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