Bitcoin is like a god for cryptocurrencies, but also, Bitcoin blockchain has some problems. Which are the main one, what do you think, and how they can be solved in your project?
You are right. Bitcoin blockchain is currently experiencing some major issues. The Bitcoin blockchain produces a block every ten minutes, and it takes an hour or more to confirm a transaction. In addition, the proof-of-work (PoW) consensus algorithm requires a large amount of wasted computing power and electricity. As blockchain technology moves beyond cryptocurrencies, the above challenges become serious limitations in widespread adoption of blockchain technology. Hence the need for a blockchain that is designed with real-world applications in mind, a blockchain that is democratic and fully decentralized, offers high computing performance, and protects data privacy.
