Bitcoin transactions in the queue

The crypto-currency system Bitcoin is not designed for large volumes, which now reached. Now presented the so far theoretical problem in practice. The from experts long predicted problem with Bitcoin is now actually occurred: the number of transactions exceeded the capacity limit of the system at the beginning of March, so that formed a queue. Some users had hours or even days to wait for their transactions were processed, Technology Review Online reported in “Bitcoin at the border”.

On March 3, around 30,000 Bitcoin transactions were in the queue. The problem lies in the basic design of Bitcoin, which currently enables with its decentralized network of computers around the world more than seven transactions per second. It is precisely this capacity limit was reached in early March, so that a backlog of unprocessed transactions originated. Whether this came from herself or was brought about deliberately to prepare Bitcoin problems, was initially open.

Who does not want to wait to move with a transaction fee pending further forward – partly suggests Bitcoin software this automatically before. Nevertheless, the capacity limit remains a significant problem. A recent study of Bitcoin designs concludes that the system needs a radical overhaul. For as yet lay no proposal which would reliably ensure that Bitcoin works in very large scale.

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