Bitcoin (BTC) has to legitimize the current global payment systems for a decade, a new report from the DataLight software startup ended on April 2.
Compared to transactions in Visa, MasterCard and PayPal, the company made a forecast that if the current growth rates in the network remain, it will win the competition from market participants.
“In just 10 years, Bitcoin has managed to compete with the leaders of the payment system industry. Bitcoin development is exponential, ”the report concludes. This continued:
“If he keeps this pace, then in 10 years it will surpass all competitors.”
Number of nodes, lower fees and average transaction size, as well as other technical factors.
Bitcoin, for example, has about 10,000 active nodes, compared with 119 Visa data centers, 98 at MasterCard and 51 at PayPal.
At the same time, Bitcoin has fewer users, which corresponds to its only ten-year period on the market; Visa and MasterCard debuted in the 1950s and 60s, and PayPal followed in 1998.
Currently, there are about 25 million bitcoin wallets, the number of credit and debit cards Visa and MasterCard has reached 5.3 billion, the report says.
However, for DataLight, these are signs of work in progress. In the near future, achievements will be proposed for major consumers.
In particular, currently cryptocurrency can process only about seven transactions per second compared to 65,000 Visa, scaling solutions – Lightning Network – have more than enough time to convert Bitcoin utility, DataLight writes.
“At present, the Bitcoin payment system far exceeds the usual international payment and bank transfers,” the report stresses. Adds:
“The technical improvement of the Bitcoin network will almost certainly make it the main payment system in the world.” That is why the bearish trend of 2018 will be another fall to exponential growth and new all-time highs. ”
As previously reported, last month other events were marked as a transitional time in the block in 2020, which was a turning point for Bitcoin’s enthusiasm. Its price, in their opinion, may begin to respond a year in advance, in June of this year.
In the meantime, the ten-year period repeats the similar words of Twitter CEO Jackie Dorsey, who once again confirmed his conviction in February that by 2028, Bitcoin would formally become a global Internet currency.