But isn't increasing the block size limit still just a temporary fix? Wouldn't Bitcoin Cash also be rendered useless as a payment system if it was handling a similar volume of transactions as bitcoin?
Arguably not. Based on testing, they're able to handle up to 25 tx/sec without any problems now, compared to Bitcoin struggling with only 5 to 10 tx/sec. And they have only a 8MB block limit currently, but are only using a small fraction of that on most blocks. And they have plenty of room to expand, given that a 10 terabyte hard drive is only a few hundred dollars now.
I'm still incredulous that Bitcoin has resisted changing to block size limit for so long, given that it was only a security measured Satoshi implemented a year into Bitcoin's life, not only kind of fundamental design feature. I rarely use Internet acronyms, but, smh....
Isn't 25 tx/sec extremely low for something aiming to be a global payment system? I am not bashing BCH...they tried -- it just seems like something not based off of BTC might be the answer.
Again, that's with only an 8MB block size. They're now doing research into 1 GB block size limits. Think about it, with 10 terabyte hard drive at $300, it's completely feasible to have 1GM blocks.
No. I'm not a BCH fan but it would be able to handle more transactions. It would still hit an upper bound, but it is higher than BTC, but lower than BTC lightning network. (It has some drawbacks too by not being on-chain).
