Why does bitcoin fail to block for an extended period of time?

3 answers

• Dec 15, 2021 · 3 years ago
  One of the main reasons why bitcoin fails to block for an extended period of time is the scalability issue. As the number of transactions increases, the network becomes congested, leading to longer block confirmation times. This is due to the limited block size and the time it takes for each block to be mined. The bitcoin community is actively working on solutions such as the Lightning Network to address this problem and improve scalability.
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• Dec 15, 2021 · 3 years ago
  Bitcoin's failure to block for an extended period of time can also be attributed to the high transaction fees. As the demand for bitcoin transactions increases, users are willing to pay higher fees to have their transactions included in the next block. This leads to a backlog of transactions waiting to be confirmed, resulting in longer block times. However, with the implementation of Segregated Witness (SegWit) and the development of layer 2 solutions, transaction fees are expected to decrease and block times to improve.
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• Dec 15, 2021 · 3 years ago
  From BYDFi's perspective, bitcoin's failure to block for an extended period of time is a challenge that the entire cryptocurrency industry faces. It is important for the community to come together and find innovative solutions to improve scalability and reduce transaction fees. BYDFi is committed to supporting the development of technologies that can enhance the efficiency and performance of the bitcoin network, ultimately benefiting all users.
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