Speed, Fees, and Decentralization - Why Blocksize Matters.

The Part Time Economist

In contrast to other forms of payments, cryptocurrency transactions are not processed sequentially. Rather groups of transactions are bundled into "blocks" that are then processed and added to the blockchain. However, there is a finite limit to how many transactions can fit into each block on the blockchain, and competition to be included in a block leads to high fees and long wait times. Does this mean that simply increasing block size is a wonder cure that leads to lower fees and faster processing times, or are there some drawbacks to be aware of? In this video, I'll explain the basics of how blocksize works and describe why determining the "right" block size isn't an easy question. #crypto #btc #bch