30 May '15, 12pm

Bitcoin-Xt Pushing Ahead With Bigger Blocks

70 SHARES Tweet Link Share Digg Post Stumbleupon Weibo G+ Pinterest Each transaction that occurs on the block chain takes up a little bit of space, and these transactions all get squished into a virtual box (a block). Bitcoin currently operates with a 1MB limit. What this means is that only so much information it can process in each block, this currently comes to roughly seven transactions per second. The discussion recently in the Bitcoin ecosphere has been to increase the block size to 20MB, thereby allowing more transactions in each block, increasing the transactions per second. As some postulate, bitcoin is unlikely to acquire mainstream adoption if it cannot match and beat the transactions per second that the major payment providers process. MasterCard Worldwide, Frequently Asked Questions states that; MasterCard processes an average of 51 million authorizations of fi...

Full article: https://www.cryptocoinsnews.com/bitcoin-xt-pushing-ahead-...

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