The Bitcoin Network responds to mounting demand by increasing transaction costs, pricing out users to reduce network traffic. Considering that the blockchain handles transactions on a first-come-first-serve basis, users will have to wait for varying periods depending on the network load.īesides transaction delays, Bitcoin users also suffer high transaction costs. To put this problem into perspective, since the blockchain can process a maximum of seven transactions every second, in periods of high network demand, the network cues up users’ requests for later processing.
Additionally, it takes the Bitcoin Blockchain 10 minutes to add new blocks to its chain. Actually, those numbers shrink down to something between three to seven transactions per second (TPS). That means it can handle no more than 10 concurrent transactions in one second. Ideally, the Bitcoin network has a throughput of 10 transactions per second (TPS). With this move, 1xBit improves users’ quality of life, making crypto gambling accessible to a broader market.īy supporting the Lightning Network, Bitcoin holders can place bets using BTC without having to put up with the scalability issues of the Bitcoin blockchain. 1xBit, the crypto casino famous for supporting an impressive range of cryptocurrencies, now allows gamblers to make payments over the Bitcoin Lightning Network.
