Bitcoin + SegWit, Ethereum, Dash and Ripple vs Visa and PayPal – Transactions per second

So with the upcoming Bitcoin update with SegWit activation, a new question emerges:
How many transactions per second will Bitcoin be able to process?

Actually, Bitcoin is able to process about 3 transaction in real time, although it could theoretically process up to 7, but that number is never being reached. With Segwit, Bitcoin will be able to process double as much, reaching 6 transactions per seconds, sadly. Will that solve the scaling problem of Bitcoin and will transaction be cheaper then? Not at all. And considering that:

  • in 2018 about 100,000 Japanese Shops will accept Bitcoin
  • the Japanese Airline will implement an option to pay via Bitcoin
  • Bitcoin is going to be accepted and legalized by more and more countries as a legal currency thus..
  • ...increasing the number of buy volume of BTC and trades
  • the number of Bitcoin ATMs globally increasing
  • more and more shops, coffee shops & restaurants in general around the world are accepting Bitcoin as a payment

it is ABSOLUTELY RIDICULOUS to even consider processing all those transactions with 6 transactions per second...

Let's compare the transaction per second numbers, so you'll understand:

  • DASH - 10 transactions per second

  • Ethereum – 20 transactions per second

  • PayPal – 193 transactions per second average

  • Visa – 1,667 transaction per second

  • Ripple 1000-24000 transactions per second, real number is currency unknown

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Lol. That's quite a pathetic performance of Bitcoin, largest crypto by market cap

Wow now I know why Ripple is a thing, that is super fast!

·

Ripple is centralised, so it's not a fair comparison with the other coins.

look like bitcoin need to catch up with all the other big payment options and currency's.

Great post. Thanks for the info. Only thing I don't like about Ripple is the fact that it is centralized, which kind of defeats the whole point of a crypto. But ya that is fast. followed and upvoted