Wasn't the latency and limitation on throughput of number of transactions per second a flaw in design? I remember it that the whole process must have have been redesinged in order to get to what Banks are capable right now.
Transactions aren't free, they incur a permanent storage cost on nodes. Whether that's a design flaw is up to you, but any other solution has other tradeoffs.
The lightning network exists, which I believe can eventually offer more bank-level transaction volumes off chain (still trustlessly) with periodic "commits" back to the chain.
The lightning network exists, which I believe can eventually offer more bank-level transaction volumes off chain (still trustlessly) with periodic "commits" back to the chain.