Blockchain OS “Glitch” offers technology to boost the DeFi sector – Cointelegraph

Blockchain OS “Glitch” offers technology to boost the DeFi sector – Cointelegraph

For all its development over the past 12 years, blockchain technology is still quite far from being able to accommodate the entire world despite the fact that mass adoption is its primary goal. For example, the two largest token projects right now, Bitcoin and Ethereum, can only process a handful of transactions per block, with Bitcoin taking as long as 10 minutes to process each block. 

Ethereum is slightly better but still far below the level it needs to be in order to be able to handle the demand. Yes, there were numerous projects that have attempted to achieve scalability, some of which are partially successful. One example is EOS, but EOS can only perform a few thousand transactions per second. While this is certainly better than what Bitcoin or Ethereum can handle, it is nowhere near what centralized financial markets can process, which can be measured in tens of thousands of transactions per second.

In other words, blockchain remains underdeveloped, and until it can match centralized systems, it cannot hope to replace them. However, blockchain does have the necessary potential to do this. In fact, a correctly structured system can and must be able to handle millions of active users and still offer a high-quality user experience. With the development of the DeFi sector and a greater focus on decentralized applications, accommodating the needs of a greater number of users has grown to be more important than ever, and The Glitch Project has emerged
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