Post by Stephan Livera: Great thread explaining why we can't have everything on-chain in Bitcoin and keep the system decentra...

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Stephan Livera @stephanlivera · May 21, 2021

From Twitter

Great thread explaining why we can't have everything on-chain in Bitcoin and keep the system decentralised at the same time. This is why Bitcoin is using a layered approach. It'll be a mix of: - on chain - lightning - sidechains - custodial accounts

Tweet May 21, 2021

🤣 8 billion people * 5tx/day = ~460,000 tx/s With (crazy) 60s blocks => 28million txs/block => 7GB/block. Fair mining requires blocks propagate in ~0.1s => 210GB/s of peak bandwidth (70 in + 140 out) A $6000 EPYC 7742 has just 204GB/s of

by Peter Todd

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