Can Bitcoin scale to become a major payment network in future? As the gain in popularity create this question in many people’s mind, those who are new to Bitcoin technology or those who misunderstood this digital currency for no reasons.
This post tries to cover those points, to let you easily understand why cryptographic currency like bitcoin, could become a major payment network in future!
Can Bitcoin Become a Major Payment System?
The Bitcoin networks can already process a much higher number of financial transactions per second than it does today. Bitcoin is, however, not entirely ready to scale to the level of major credit card and payment networks.
Bitcoin work is still underway to lift current limitations, and our future requirements are well known. Since inception, every aspect of the this digital currency’s network has been in a continuous development.
The bitcoin development process is continuously gaining the level of maturation, optimization, and specialization, and it should be expected to remain this way for many years in future.
As the traffic grows, more Bitcoin users may start using lightweight coin clients, and full network nodes may become a more specialized service provider.
The bitcoin network is already getting adopted large number of individuals and businesses across the globe and by coming days it is expected to grow.
To learn more about the bitcoin network and what the experts of the world thinks about this technology, see the Scalability page on the Wiki.
What do you think about this digital currency of the future, do you think it could become one of the major payment network one day?