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Scalability has always been an issue with Bitcoin. The most relevant issue is the block size which is currently limited at 1MB or 1000000 Bytes.

The chart below details the average 1 Week Transaction Size since May 2010. The average BTC Transaction size is around 495 Bytes. 

Data is taken from https://tradeblock.com/bitcoin/historical/1w-f-tsize_per_avg-11101

So how many BTC transactions will fill a Bitcoin Block ? 

This is simply -

Maximum Block Size / Average Transaction Size = Average Transactions Per Block

1000000 Bytes / 495 Bytes = 2020 Transactions

A new Bitcoin Block should be found by miners every 10 minutes. There are 600 seconds in 10 minutes. 

To calculate Transactions per Second this is simply - 

Number of Transactions Per Block / Block Time in Seconds

2020 Transactions / 600 Seconds = 3.37 Transactions Per Second

Now that BTC has reached a good level of adoption the block size limit is frequently reached. Transactions that are not processed are rolled over into the next block. Priority is given to Transactions that include a higher transaction fee. It is not a perfect system by any means which is why there is an ongoing debate at the moment in making sure Bitcoin is scalable. 

So how will this effect BitcoinPlus - XBC ?

For starters BitcoinPlus has a much shorter average block time. 60 seconds compared to Bitcoins 600 seconds. So straight away BitcoinPlus can already handle 10 times as many transactions every 10 minutes. 

The Block size limit in BitcoinPlus is also larger at 1.5MB or 1500000 Bytes

This is highlighted in the source code - https://github.com/bitcoinplusorg/xbcwalletsource/blob/master/src/main.h#L32

The average Transaction size of BitcoinPlus is very similar to Bitcoin. Using the Bitcoin average of 495 bytes we can work out how many transactions BitcoinPlus can handle every block. 

Maximum Block Size / Average Transaction Size = Average Transactions Per Block

1500000 Bytes / 495 Bytes = 3030 Transactions

To calculate how many transactions per second this is simply

Number of Transactions Per Block / Block Time in Seconds

3030 Transactions / 60 Seconds = 50.5 Transactions Per Second

You can see therefore It is going to be a very long time before BitcoinPlus has to worry about any scalability issues. 

If BitcoinPlus - XBC did ever reach mass user adoption we would be able to look at Bitcoin and Litecoin and see what works and what doesn't and impliment the most suitable solution for BitcoinPlus.  

TPS
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Mar 9, 2017 By xbcadmin