this post was submitted on 02 Feb 2024
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Uh, yeah, after guzzling electricity like a small country, I'm sure bitcoin has massive scaling. Ability to process 9 transactions per seconds counts as massive scalability, right?
I assume you're speaking Bitcoin, cryptocurrency that uses Proof-of-Work consensus.
Proof-of-Work is very secure, super decentralized, but it's the culprit behind mining and subsequent electricity drain.
There are other consensus mechanisms, like Proof-of-Stake, to which Ethereum, Solana and many many others have migrated to or were based on to begin with.
Proof-of-Stake requires about 100x less electricity, is reasonably secure and is the default option for modern cryptocurrencies. Thereby the energy argument gets less and less relevant, while the fuss around it is only gaining speed.
Ethereum doesn't seem to have great TPS either ( ~15 transaction/s ), and talks about improving TPS seems to have quiet down.
You have something like Nano that hits around 50 TPS and also uses proof of stake. Transactions are basically instant and it has no fees. It was always my favourite in terms of crypto personally.