CoinGeek Backstage: IBM Consulting’s Patryk Walaszczyk on the importance of scalability in blockchain

Getting your Trinity Audio player ready...

Blockchain is evolving beyond the niche use cases, and global enterprises are dipping their toes and testing the technology. IBM is at the heart of enterprise blockchain integrations, and as IBM Consulting’s blockchain solutions expert Patryk Walaszczyk told CoinGeek Backstage, BSV’s scalability and low costs make it the best fit for enterprise clients.

Patryk was in Warsaw for the CoinGeek Bitcade, an event that introduced the attendees to the power of an infinitely scaling blockchain in the gaming sector.

Speaking to CoinGeek’s Becky Liggero, Patryk revealed that he first learned about BSV through the Certihash ‘Sentinel Node’ project, a collaboration between blockchain security company SmartLedger and IBM. As CoinGeek reported, Sentinel Node seeks to cut the costs and time associated with identifying and containing the damage from cyber-attacks, all on BSV.

For Patryk, scalability is the Holy Grail for any blockchain network. And while this is an open secret, most of the largest blockchain networks are still unable to scale to date, like BTC and Ethereum, which usually process just four and 12 transactions daily. BSV has proven it can hit 50,000 transactions per second.

“Many of the public protocols like BTC and Ethereum have limitations in terms of transaction output and transactions fees. [If you] compare this to BSV where transaction output is really high and fees are extremely low which is very important for a corporate customer,” Patryk told CoinGeek Backstage.

BSV also wins in the area of predictability on transaction fees, the blockchain expert added. For corporate customers, fee volatility is a turnoff as they need the ability to budget for future expenses. In Ethereum, for instance, fees have been known to shoot as high as $190 and then drop to $5 (which is still extremely high compared to BSV), depending on demand.

“BSV is a really good fit, we believe that. We’re now exploring [the network] to ascertain that it works as touted,” Patryk stated.

Watch: CoinGeek Bitcade adds spice to Poland blockchain gaming space