Scalability is Now Top Priority for Crypto Development Teams

As thousands of new buyers flood in the crypto world daily, the scaling issue has turn to be the top concern among developpers. Even though Bitcoin’s price has reached record highs, the blockchain is struggling to keep in pace with the rising transaction volume. Other crypto coins are also experiencing substantial growth, and dev teams are conducting proactive steps to make sure that the network is able to scale and meet demand. As crypto coins are becoming mainstream, meeting that challenge will be indeed the most relevant and key factor in any crypto’s survival.
Being the flagship of cryptocurrencies, Bitcoin’s capability to scale its the most significant challenge for the crypto world. Despite devs and miners have been unable to get a clear consensus on which is the most appropiated scaling solution, the adoption of SegWit (Segregated Witness) in the month of August will enable implementation of the Lightning Network. At present is in alpha testing, but the Lightning Network will allow any transaction to be settled off-blockchain. Hipotetically this process will allow an endless number of nearly instant transactions.

Ethereum, the silver medal of the cryptos, has built scalability as paramount into its roadmap, and it has developped Plasma, which its function is similar to BTC Lightning Network and it enables transactions to be verified outside the main blockchain. The chief architect of the Lightning Network (Joseph Poon), is also a key developer of Plasma. Besides Ethereum is planning to implement “sharding,” which is a process where each transaction is verified by only a subset of nodes. Vitalik Buterin, Ethereum founder, exposes that once in operation, those platforms will allow Ethereum to handle billions of transactions each second.
By some accounts, the scalability issue is purely a reflection of the successful story of cryptocurrencies and the udnerlaying blockchain technology. It is now responsability of development teams to generate solutions that will conceive large numbers of transactions simultaneously. There is no doubt that cryptocurrencies are now a permanent asset on the global financial panorama. Nonetheless, the crypto coins that survive to be mainstream actors will be those capable of operating on a global scale meaning general adoption as credit card payment is nowadays.