What decentralized cryptocurrency could actually be adopted by El Salvador, today, without being crushed under a tx/sec bottleneck if lots of citizens tried to use it? My meager knowledge says "maybe Solana?? or perhaps nothing irl" but I'd be interested in more technical takes.
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1) Solana could, as could a few others.
El Salvador has ~6m people. If the average person has ~10 payment transactions per day, that makes ~60m/day, which is about 600/sec. Solana is currently handling about 2,500 TPS (solanabeach.io) so it should be fine.
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2) Extending this out -- what if the whole world wanted to use Solana?
Then we'd be talking about ~70b tx/day --> ~700k TPS.
Right now Solana could scale to ~50k TPS, so as it is today it couldn't handle the whole world.
But the roadmap has it getting there in a few years.
You should also extend the tradeoffs it's making to even get to that theoretical 50k (I think would be interested to know)
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Youโre assuming that transaction usage scales linearly with population size which is not necessarily true. As the number of inputs in a connected market increases, the number of transaction inputs doesnโt increase linearly. Itโs much more likely itโs quadratic or logarithmic.
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Cheaply validated subnets will win out.
I donโt want to pay the cost of transactions in markets I donโt participate in.
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Syscoin is already there with 65k tps with bursts to 145k at peaks. Their EVM layer will support up to 4mil tps utilizing zkrollups and validium.
You should read their research paper on it as they are about to release their NEVM layer.
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eth is 3900, btc was 3900 in 2017
sol is 170, eth was 170 in 2017
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