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MemberActivity: 64Merit: 10 Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread June 29, 2015, 11:54:20 AM

Last edit: June 29, 2015, 12:12:31 PM by poloskarted #11561 Quote from: delulo on June 29, 2015, 07:21:16 AM Quote from: Matt Y on June 28, 2015, 05:52:42 PM Quote from: delulo on June 28, 2015, 09:36:02 AM How will Counterparty handle the tx volume in markets Symbiont is aiming at (settlement infrastructure?)? Isn't Counterparty limited to Bitcoin's 7 tx per second?



There won't be an issue with transaction volume for a while. It's not going to be...



1. Launch

2. Tons of business and issues of multiple transactions a second



It's still going to take time.



Additionally, the block size increase that is being put in place soon will help alleviate that pain point.

There won't be an issue with transaction volume for a while. It's not going to be...1. Launch2. Tons of business and issues of multiple transactions a secondIt's still going to take time.Additionally, the block size increase that is being put in place soon will help alleviate that pain point.



The block size increase might help to make 140 out of the 7 tx (1 mb -> 20 mb) per second but that is still minuscule compared to the markets Counterparty is aiming at. TX/S have to be in the thousands at least... Trading takes much more volume than eccommerce / remittance (bitcoin use cases).

But there has to be a long term plan.The block size increase might help to make 140 out of the 7 tx (1 mb -> 20 mb) per second but that is still minuscule compared to the markets Counterparty is aiming at. TX/S have to be in the thousands at least... Trading takes much more volume than eccommerce / remittance (bitcoin use cases).

DTCC who clears about $1.8 quadrillion dollars yearly, or roughly equivalent of the U.S. GDP every three days undertook a study on the transisition to t+2 settlement and identified huge merits in the transition to 2 day settlement



so bear in mind even t+0 (same day settlement) is still a huge improvement compared to previous 3 (or more) day settlement, granted this on a much smaller scale





with gavins proposal, blocksize would double every 2 years, so something like this:



Code: 2016 8MB 0.1Mb/s 26Tx/s

2018 16MB 0.2Mb/s 53Tx/s

2020 32MB 0.4Mb/s 106Tx/s

2022 64MB 0.9Mb/s 213Tx/s

2024 128MB 1.7Mb/s 426Tx/s



Right now there is a theoretical ceiling of 604,800 bitcoin transactions that could be undertaken every day. By 2016 that could be 2.2 million, by 2018 4.57 million, 2020 9 million , and 2024, 36 million.



There's a lot of space to grow and a lot of time to pass in which numerous innovations could come to existance, sidechains, lightning networks are a few 'transaction offloading schemes we've seen recently. I am not worried about scalability just yet. Counterparty does not have to be used as a real time trading layer when that could be offloaded through gateways, it can be used as a final clearing, netting and settlement layer- or as an initial asset issuance/ equity ownership database for example. DTCC who clears about $1.8 quadrillion dollars yearly, or roughly equivalent of the U.S. GDP every three days undertook a study on the transisition to t+2 settlement and identified huge merits in the transition to 2 day settlement http://www.bloomberg.com/news/articles/2012-05-22/dtcc-plans-study-on-faster-settlement-for-u-s-securities-1- so bear in mind even t+0 (same day settlement) is still a huge improvement compared to previous 3 (or more) day settlement, granted this on a much smaller scalewith gavins proposal, blocksize would double every 2 years, so something like this:Right now there is a theoretical ceiling of 604,800 bitcoin transactions that could be undertaken every day. By 2016 that could be 2.2 million, by 2018 4.57 million, 2020 9 million , and 2024, 36 million.There's a lot of space to grow and a lot of time to pass in which numerous innovations could come to existance, sidechains, lightning networks are a few 'transaction offloading schemes we've seen recently. I am not worried about scalability just yet. Counterparty does not have to be used as a real time trading layer when that could be offloaded through gateways, it can be used as a final clearing, netting and settlement layer- or as an initial asset issuance/ equity ownership database for example.