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I enjoyed writing and researching this a lot.
A short summary:
- scalability trilemma means BTC can't be scalable, secure and decentralized at the base layer
- Bitcoin Cash, going the big block way route of 32MB blocks, can only do 50 transactions per second on the base chain
- if you wanna scale via big blocks, you'd have 190TB of data a year to support 24,000 transactions per second. No node can keep this much, not to mention syncing
- Lightning solves this beautifully
- The default LND node is able to do 33 payments per second on a 8vCPU 32GB memory cloud machine
- Assuming most Pis running LND can do 4 payments a second, the Lightning Network right now should be able to scale to 16,264 payments a second.
- That number is 2.2x the average transactions from Visa in 2021, so more than enough to overcome them
- At the same time, Lightning's transaction fee is 13 times less than visa. 0.1% vs 1.29%
- Lightning hasn't even started prioritizing scalability or performance. Reliability has been at the forefront
- As River shared, its payment success rate is 98.7% at an average payment size of $46. 4 years ago, Lightning had $5 transactions fail 48% of the time.
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Because he's always misunderstood, and most people place great expectations on him to enrich them overnight.
He ain't about making you money, he's about making money better.