“Anyone who has been paying attention to what’s going on with Bitcoin at all, over the past year, should be at least somewhat aware of the block size debate. This particular debate is part of the larger issue of figuring out how to scale Bitcoin to many new users over the coming years. Some believe that capacity should be increased as soon as possible, while others have taken a more conservative approach to the situation.
Anyone interested in Bitcoin or blockchain technology in general should pay attention to this debate as it has been one of the first real-world examples of how these sorts of decisions will be made in a decentralized manner.
There is currently a limit on how many transactions can be processed by the Bitcoin network. In practice, this limit amounts to roughly three transactions per second. Some Bitcoin users would like to see that limit increased.”