Flowchart & explanation of Bitcoin scaling debate! by unknowncrypto

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segwit · @unknowncrypto · Jul 20 '17 (edited)

$0.38

Flowchart & explanation of Bitcoin scaling debate!

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I want to share some important information with you about the Bitcoin scaling debate. The information is given below.
 
https://coinjournal.net/wp-content/uploads/2017/03/Bitcoin-Mining-Icon-696x348.png

The Bitcoin scaling issue has been going on for more than a year now.The issue revolves around the size of the blocks which are added to its blockchain. Bitcoin blocks have a limited ‘storage’ capacity of 1MB under the current popular system of Bitcoin Core. With increasing usage, congestion issues have been reported on the Bitcoin network, resulting in more time and transaction fees necessary for verifying transactions. To resolve this, different sections within the Bitcoin community pitched different solutions to enable smoother running by decongesting the blocks.

The different solutions causes a debate about the best solution. The image blow from eToro.com shows the possible outcomes of the debate. Definitions about the scaling debate are given below in the image.
Read more information about the scaling debate on [Investopedia](http://www.investopedia.com/news/war-between-segwit-vs-bip148-vs-bitcoin-unlimited-explained/#ixzz4nMCFQWqb)

![1 - EFa5EeP.jpg](https://steemitimages.com/DQmTj7tYYaTXRPv5bdZMCGpzU7t8eNwJ5RoUpbos8BYEChr/1%20-%20EFa5EeP.jpg)
 
**Picture link for download and higher resolution:** etoro.tw/2tG32MQ
Source: [eToro.com](https://www.etoro.com/)
 
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[UnknowCrypto](https://steemit.com/@unknowncrypto)**
 
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👍 minnowsupport, trueflip, around-z-block, elyaque, arskiss, lastminuteman, unknowncrypto, cheetah, steemprentice, ebargains, stephen.king989, ogochukwu, raymondspeaks, venuspcs, nicnas, shellyduncan, shawnfishbit, choogirl, juvyjabian, diana.catherine, jhermanbeans, gindor, pomperipossa, edrivegom, banjo, n1kofi, marcusxman, starrkravenmaf, cloh76, germanaure, cryptohustler, loreennaa, burnedpixel, worldtraveler, taica, detlev, myday, tjtrusty, starsteem, whatamidoing, flaminghedge, numpypython, qwasert, outerground, timbalabuch, isaacfrett, sighmanjestah, andrewgenaille, abcdoctor, natra, paulag, pisolutionsmru, shahzaib, jotmax, ninaflowers, jhagi.bhai, fraswa, efrageek

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@around-z-block · Jul 20 '17

This is BY FAR the best steemit community for people interested in cryptos, blockchain, investing, finance and more. Don't be a stranger if you choose to join! The more conversation, the better.

👍 unknowncrypto

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@cheetah · Jul 20 '17

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
http://www.investopedia.com/news/war-between-segwit-vs-bip148-vs-bitcoin-unlimited-explained/

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@minnowsupport · Jul 20 '17

<p>Congratulations!  This post has been upvoted from the communal account, @minnowsupport, by Unknowncrypto from the Minnow Support Project.  It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123.  The goal is to help Steemit grow by supporting Minnows and creating a social network.  Please find us in the <a href="https://discord.gg/HYj4yvw">Peace, Abundance, and Liberty Network (PALnet) Discord Channel</a>.  It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.</p>

<p>If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.</p>

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@shahzaib · Jul 20 '17

whats next step bitcoin?

properties (22)