It’s been almost eight years since the launch of Bitcoin and during this period, it has been through vigorous ups and downs. Not long ago, people were skeptical about the use of Bitcoin but today, the table is apparently turned upside down. Bitcoin now forms a gigantic network of users which includes more than 100 million active users. The daily average transactions in Bitcoins also rose substantially from 100,000 to over 200,000 by the end of last year. Also, the price value of Bitcoin is breaking all the barriers and the current market cap of Bitcoin (at the time of writing) is 20.63 billion USD which is even greater than that of Twitter and LinkedIn.
But despite of all these startling factors and astonishing features that Bitcoin offers, there are also some major setbacks that are slowly coming into picture. The scaling problem due to Block Size limitation is one such serious affair that has always been a matter of concern for all the all the Bitcoin enthusiasts. It has given birth to numerous debates and yet no concrete solution has been found till date.
