One Major Flaw With BlockChain

As we move forward with prices and rallies it is clear that one glaring issue is still present despite all of the work that has been done.

If there is just one crappy program or person with enough power to send a bunch of transactions to the blockchain they can clog it up and skyrocket fees.

Now of course there are outside chains that can be used such as the lightning network but its optional and everyone can still use the core bitcoin blockchain.

As Veriblock launched it shot up the amount of transactions per block. In fact the transactions per block are higher then when we ran into issues back in 2017.

What is Veriblock ?

Veriblock is a system that uses a system for other tokens and coins to be traded but uses the bitcoin block chain to improve the security of the transactions. It is a decentralized, transparent, trust less and permission less technologies that secure and scale the blockchain ecosystem.

At least that is what they say.

This site and program are not old at all but are clearing proving to already cause some issues for bitcoin in terms of fees.

If your a miner however you most likely are enjoy some extra fees finally.

But could this actually turn into something positive?

In the short run I believe No.

However given some more time and as more systems start to do this you clearly start to see just how valuable Bitcoins 1MB block space is and people/ these other alternative systems will end up paying some rather high fees for using that real estate which will increase mining fees and should result in the increase of dollar value of bitcoin.

It would also most likely open up lightning network to be further adopted into the core chain in the form of channels and perhaps open up a whole new world of how cryptocurrency works that we are just starting to realize at this moment.

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