Scaling challenges in blockchain from "summary" of The Basics of Bitcoins and Blockchains by Antony Lewis
One of the key issues facing blockchain technology is scalability. As the number of users and transactions on a blockchain network grows, the system must be able to handle the increased load efficiently. This is a significant challenge for many blockchain networks, including Bitcoin and Ethereum. One of the main scalability challenges in blockchain is the size of the blocks. In the case of Bitcoin, each block can only hold a limited number of transactions. This means that as the number of transactions on the network increases, there can be a backlog of unconfirmed transactions waiting to be added to a block. This can lead to delays in transaction processing and higher fees for users who want their transactions to be prioritized. Another scalability challenge in blockchain is the time it takes to confirm transactions. In the case of Bitcoin, a new block is added to the blockchain approximately every ten minutes. This means that it can take a significant amount of time for a transac...
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