The previous level about transaction validation is essential as a result of it’s attractive to check the power density of Bitcoin transactions to one thing like Visa (V). Bitcoin can solely deal with seven transactions per second in comparison with Visa’s 24,000+. However, bear in mind, Bitcoin doesn’t use power to validate transactions. The miners’ job is to safe the community, add new blocks of knowledge to the chain and win bitcoin in return. That’s what they spend power on. They’re not primarily fascinated with validating transactions. That consensus on the true state of the community is primarily the job of non-mining, Bitcoin full nodes. Plus, Bitcoin transactions aren’t the identical as Visa or different fee processors’ transactions. Bitcoin transactions provide (probabilistic) finality, Visa’s don’t. Visa’s success relies on the success of separate programs. Visa’s “token” will not be native to its community.
