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2927 sats \ 0 replies \ @SonyaHarperMR2 17 Jul freebie \ parent \ on: Stacker News Privacy Policy bitcoin

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.

https://bitcoinmagazine.com/.image/c_limit%2Ccs_srgb%2Cq_auto:good%2Cw_700/MTkzOTM1NjA2NjU1NjI0ODgx/transactions-per-second.webp