The allure of Bitcoin, a digital gold seemingly impervious to government control, rests not only on its perceived stability but also on its promise of frictionless transactions. Yet, beneath the surface of this digital utopia lies a complex network grappling with significant technological limitations, primarily centered around scalability. This inherent constraint casts a shadow over Bitcoin's ambition to become a truly global, everyday currency.
The core problem stems from Bitcoin's architecture. Each transaction must be verified and added to the blockchain, a public, distributed ledger. This verification process, known as mining, requires immense computational power, leading to significant bottlenecks as the network grows. The more transactions processed, the longer the confirmation times become, and consequently, the higher the transaction fees soar. Imagine attempting to conduct millions of transactions simultaneously on a system designed for a fraction of that volume – gridlock ensues. This is the reality Bitcoin frequently faces.
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