For Bitcoin, Slowly But Surely Is Better Than Quickly But Vaguely

8 min read


You have probably heard about the many criticisms against Bitcoin (BTC) and its PoW (Proof-Of-Work) consensus mechanism. Bitcoin is being called slow and energy inefficient. At the same time, there are critics who shill for another cryptocurrency that they have become a die-hard supporter of. The major criticisms against Bitcoin is that it “wastes a lot of energy” and that it is “slow and not able to process large transaction volumes”. Well, I would be wrong to say that those statements are false. In fact, they are correct. Bitcoin, the first and therefore oldest blockchain in existence, has its limitations…....

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vincenttabora I am a network engineer and technology writer, with a deep focus in blockchain and machine learning technology. I have extensive experience in the IT industry developing and implementing solutions in various industries. I eventually became more interested in blockchain due to the rise in cryptocurrency like Bitcoin. I realized that it was not about speculating on price value, it is a disruption in the finance industry. At the moment I like to educate about the significance of cryptocurrency, which I feel has great potential to drive innovation not just in financial systems, but even in settlements and trust.