Blockchains are extensive, distributed, and encrypted, which can be slow and inefficient. They take longer to process as the number of users increases in the network. As the network evolves, there should be more participants and greater competition for computational power, which uses energy. New blockchain protocols like Slice Ledger can handle up to 2000 transactions per second.
But in terms of transaction speeds, the two well-known blockchain networks—Bitcoin and Ethereum—are far behind.
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