NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

ACI’s Roger Oliphant: “Open Blockchain Standards Are Too Slow”

newsbtc
newsbtc
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Ever since corporations garnered an interest in the blockchain, the topic of scalability has been kicked around a fair few times. A new report by Gartner indicates the technology has hit the “peak of inflated expectations”>. With more money flowing into blockchain every year, the question becomes how well this technology scales. But can it handle mainstream transaction volume?

There has never been a bigger interest in blockchain than over the past 18 months. Although some people still associate this technology with a lot of hype, there are plenty of use cases. Some of these accusations are justified, as the number of meaningful use cases remains very limited for now. With over US$250m pumped into blockchain throughout 2016 so far, results will have to be provided shortly.

Blockchain Scalability Remains An Issue

ACI World’s chief architect Roger Oliphant sees a major problem for distributed ledger technology, though. With so many people using the “wait and see approach” this technology will have a hard time to mature. More importantly, he feels the Bitcoin blockchain is far too slow to handle financial transactions.

Oliphant claims the same applies to other open blockchain standards, all of which take too long to confirm transactions. While this seems to be a software-based limitation, it is doubtful the financial sector will ever embrace the open standard. At the same time, the question becomes which blockchain[s] will be the ‘winner” in the end.

“The amount of math needed for proof of work is too CPU-intensive. If you need five nodes for consensus, the amount of time the CPU cycles — it can be 3, 4, 5, or 7 seconds for consensus. We’re looking for the 4, 5, 6 millisecond range. A 15-millisecond window at most.”

All of this seems to hint the financial sector will look towards private blockchains. That is not surprising in the last, as these permissioned ledgers allow for complete control by institutions. However, very few private solutions seem to achieve tens of thousands of transactions per second. Mijin, a Japanese private blockchain solution, is one of the few exceptions.

Something will have to change if the financial sector is destined to embrace the blockchain. While they may not be for using open standards, they still provide immutability and security. These decisions will need to be weighed carefully, and blockchain companies will need to step up their game.

Header image courtesy of Shutterstock

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Previsioni Ethereum: ETH a 4.000$? I Ribassisti Sono Al Comando?

Il prezzo di Ethereum ha registrato un forte calo dopo aver toccato un nuovo massimo storico sopra i 4.900$. Questo...

clararosati 1 hour ago

Memecore: Σημαντική άνοδος 36% από $0,63 σε $0,94 – Τι μπορεί να ακολουθεί

Το Memecore (M) επέστρεψε δυναμικά μετά τη διόρθωση στα τέλη Αυγούστου, καταγράφοντας άνοδο περίπου 36% από τα $0,63 στα $0,94,...

Ιωάννης Ριζόπουλος 2 hours ago
Bitcoin

Bitcoin Battles Key Support: Can September’s Dip Set The Stage For A Q4 Rally?

Bitcoin is once again testing a critical support zone, and speculation is whether September’s weakness will mark a turning point....

Godspower Owie 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Crypto news Ray Dalio

Crypto To Overtake The Dollar? Ray Dalio Flags End Of Debt Cycle

Jake Simmons 19 minutes ago

Lava Network’s RPC engine sets the infrastructure stablecoins need to scale

NewsBTC 56 minutes ago
billets-avion-xrp-emirates-crypto-com-pay

Réserver son vol en crypto ? Emirates dit oui

guillaumev 58 minutes ago

Premium Sponsors

Press Releases

  • AlloyX Merges with Solowin Holdings at $350 Million...

    4 hours ago
  • XRP достига решаващо ниво — Token6900 сочен като най-големия печеливш през 2025 г.

    XRP достига решаващо ниво — Token6900...

    4 hours ago
  • Top ICO Crypto Tháng 9 – Meme Coin Tiềm Năng Để...

    5 hours ago
  • Presale Bitcoin Hyper

    Bitcoin Hyper Dẫn Đầu Các Đồng Coin Tiềm Năng...

    5 hours ago
  • Các Đồng Coin Tiềm Năng

    3 Altcoin Bùng Nổ Mùa Này – Cronos, Bitcoin Hyper...

    5 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.