Is it time to increase the blocksize cap?

The discussion highlights the scalability potential of blockchain technology, emphasizing its applicability to a vast number of users and economic entities. The argument presented showcases the notion that blockchain channels possess an inherently superior scalability compared to traditional assets or utilities such as cars or housing. This scalability is not merely theoretical but is posited as achievable within a relatively short timeframe, suggesting that every economic entity could feasibly adopt a blockchain channel in the coming year.

The comparison between the current state of blockchain user adoption, with figures suggesting there are 7 billion on-chain users, against the backdrop of global economic structures, including approximately 300 million businesses and 1 billion households, serves to underline the untapped potential of blockchain technology. This perspective forwards the idea that blockchain infrastructure can support an exponential increase in users, far outpacing the scalability of physical goods and services.

The underlying assumption in this discussion is that the nature of blockchain allows for an infinite scaling of channels, which could revolutionize how economic transactions and interactions are conducted. This transformative potential is seen not just in the sheer number of possible users but in the fundamental shift it represents from conventional limitations of physical resources to the boundless possibilities offered by digital innovation. The emphasis on the near-term realization of this potential underscores a belief in the rapid advancement and adoption of blockchain technologies across various sectors of the economy.