This is due to the fact that price in BTC attained $30, was more remarkable than the time it hit $6000. If the right scaling, the rise in value could be enormous.
Over the last 10 years, cryptocurrency has performed exceptionally well and in 2017 it surpassed an amount of $20,000.
In this article, we’ll look at the research of economics expert Saifedean Ammous, who is an academic and been the author of “The Bitcoin Standard.”
He has observed how Bitcoin performs Bitcoin and has concluded that even though the results are incredible but they could have been more effective.
The one thing that stopped it was that it wasn’t issued with the appropriate scaling.
Would have crypto performed better if it scaled?
Jeffrey A. Tucker, who is an economics journalist has concluded that the real expectations for Bitcoin were that it would achieve a higher price than it actually reached.
The biggest obstacle that kept it from achieving its goals was that it didn’t scale correctly. The technology could be used by a lot more retailers and consumers according to his view.
The failure of forks such as BCH and BSV as an excellent illustration of that. Even though they had huge blocks, they were sold at a much lower cost than BTC. Tucker also praised BCH as a valuable digital asset.
But, not everyone agreed with his assessment. Co-founder and co-owner BTC, the co-founder BTC, Yan Pritzker said Tucker’s views were not well-informed.
He also said that If Bitcoin were to be scaled up as the author suggests, its characteristics could be severely affected.
Michael Goldstein also disagrees with the claim and has examined the fact that the scaling went in the right direction as the worth of the crypto was $6,000.
Scaling Is Present
Although many people disagree with Tucker however, there’s some truth to the story – there are efforts to expand technological advances, however it’s not at the pace.
The answer to this dilemma may include an alternative solution called the Lightning Network which is a second-layer scaling option, which allows the transfer of cryptocurrency transactions to allow for rapid and efficient transfer.
Square Crypto has already launched the Lightning Development Kit, allowing developers to build “custom” integrations to the Network through An API or demo applications and various other tools.
This can help make an integration into this Lightning Network easier and help to scale cryptocurrency. Another option is Schnorr signatures. This lets more transactions be included into one block.