Bitcoin Has No Future As A Payment Network — FTX CEO ⋆ ZyCrypto - BitcoinEthereumNews.com
Bitcoinबिटकॉइन का भुगतान नेटवर्क के रूप में कोई भविष्य नहीं है - FTX के सीईओ ZyCrypto05 / 16 / 2022बिटकॉइन एथेरियम समाचार विज्ञापन Sam Bankman-Fried, founder and CEO of crypto-exchange FTX believes that Bitcoin has no future as a payment network. According to a Monday report by the Financial Times (FT), Sam was convinced that the world‘s largest cryptocurrency blockchain still faced high transaction inefficiency and posed a huge problem to the environment. According to him, Bitcoin’s proof of work system which is used to validate transactions was its greatest limitation in scaling up “to cope with the millions of transactions that would be needed to make the cryptocurrency an effective means of payment.” “The bitcoin network is not a payments network and it is not a scaling network,” Bankman-Fried said. The BTC network cant sustain thousands/millions of TPS, although BTC can be transferred on lightning/L2s/etc, he later added in a tweet. Nations such as El Salvador and the Central African Republic have made Bitcoin legal tender to popularize transactions using the cryptocurrency. In El Salvador, the use of Bitcoin for transactions however remains scarce, despite the country rolling out bitcoin ATMs and promising incentives to locals. Bankman-Fried also blasted the blockchain for its high energy consumption