While the Bitcoin Community debates the merits of a bigger block size so as to accommodate more transactions per second (the current rate is approximately 7 transactions per second), the world’s largest corporations – from financial institutions to technology firms – have entered into the blockchain industry with new ideas and protocols to ensure the proliferation of the blockchain.
Still to this day, R3 CEV is onboarding new partners to explore the ways in which distributed ledger technology and blockchain technology can change the world, as Bitcoiners have set out to accomplish.
It’s difficult to approximate just how many millions have been invested into blockchain technology, but the funds available to multinationals corporations far outweighs those of a grassroots bitcoin industry into which venture capital investment has stalled.
In the meanwhile, the bitcoin industry has splintered off into multitudinous factions regarding the bitcoin protocol. While discussion about the block size is the focus of many bitcoiners, the bitcoin industry begins to take the form of the dominant culture around it: hierarchical and at-odds.
The complexity heightens as participating individuals harden intellectually