Scaling Blockchain

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For most of 2018 the blockchain and cryptocurrency ecosystems have been working hard on one gigantic shared problem: scalability. (See also: “In the Crypto Ecosystem, It’s Still 1968 — But We’re Moving Fast”).

But before you give up on blockchain scalability and declare Bitcoin dead, there are many viable ways that blockchains and DApps can scale, including, but not limited to:

Up until about the end of 2017, scaling on the Bitcoin blockchain was a big problem. Bitcoin is limited to a small handful of transactions per second. When people try to create more transactions per second than the blockchain can handle, the pool of waiting transactions grows to unsustainable levels, and transaction prices rise as participants pay premiums to get their transactions processed faster. In December 2017, Bitcoin transaction fees peaked at over $55 per transaction as a result.

Bitcoin average transaction fees over time: December 22, 2017: $55

The Po.et Network is