Speed and cost

Although blockchain-based transactions are very high in speed and also cheaper when compared to any other conventional methods, from time to time, this is becoming difficult, and the speed reduces as the number of transactions per block reduces.

In terms of cost, a lot of hardware is required, which in turn leads to huge network costs and the need for an intermittent network among the nodes.

Various scaling solutions have been presented by the community. The best is increasing the block size to achieve a greater number of transactions per block, or a system of dynamic block size. Apart from this, there are various other solutions also presented to keep the speed reduced and the costs in check.