Why don’t more people use Bitcoin?

It’s one of the world’s largest assets, with a market cap of over $2.2 trillion. Bitcoin is divisible – you can spend tiny fractions of it at a time, in even smaller units than traditional dollars and cents. It takes 100 million satoshis to make one Bitcoin.

Since Bitcoin is highly divisible, liquid, and valuable, why isn’t it more commonly used in everyday transactions?

That’s just one of the questions Bitcoin developers face. The answers expose some of the problems with Bitcoin’s existing architecture and demonstrate how Bitcoin Hyper ($HYPER) could be the answer.

Bitcoin’s Speed and Scalability Gap

Despite being the largest cryptocurrency by market cap, Bitcoin’s Layer 1 has significant limitations. For example, it can only process around 7 transactions per second (TPS), much lower than Ethereum and Solana’s much higher throughput.

During peak usage, congestion increases, leading to higher fees and longer confirmation times, which makes everyday transactions inefficient.

There’s the additional issue that congestion spikes also lead to transaction fees that vary wildly, sometimes spiking dramatically.

Both issues hinder Bitcoin’s adoption as a payment method; nobody wants to pay several dollars in fees for a small transaction.

The lack of programmability also hampers adoption – Bitcoin doesn’t support complex smart contracts, dApps, NFTs, and DeFi natively.

Its simple smart contract design emphasizes security and stability; ideal for a blockchain that focuses on being a ‘store-of-value,’ but less suitable for a more versatile blockchain built with Web3 in mind.

The lack of DeFi, meme-coin ecosystems, and Web3 integrations limits Bitcoin’s role in mainstre

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Author: Aaron Walker