Scale – an adoption pain-point for real-world Blockchain cases, specially financial ones. It boils down to Speed-spoilers though.
A usual Bitcoin network coughs merely 7 transactions-a-second against erstwhile network peaks – let’s say VISA’s which can hum around 65,000 transactions-per-second.
But now heads and hands are coming together to fix this. Like Red Belly, a Blockchain whipped up by researchers at University of Sydney. Think of digital financial transactions at 660,000 transactions-per-second. That’s way snappier than 7, right?
Just use unique indexes for blocks and drop the ‘fork’ as creator Dr Vincent Gramoli worked it out. Juice up performance and shave some ‘double spending’ that matters a lot in financial contexts. It’s not just Red Belly. There’s Lightning and Plasma – other speed-related innovations.
Is that why Inserviss marketplace (Setcoin is easily 11.5 times faster than Visa) is using one? If you are buying a car, why get a slow one, after all!
Adding wheels to Blockchain