Bitcoin is an excellent case study for possible inefficiencies of the blockchain. It takes about ten minutes to add a new block to the blockchain due to Bitcoin's "proof of work" system. At this rate, it is estimated that the blockchain network can only manage about seven transactions per second (TPS). Although other cryptocurrencies like Ethereum outperform bitcoin, the issue is limited to the blockchain. Visa, an old payment brand, can handle 24,000 TPS. Solution proposals have been developed in this regard for years. There are currently blockchains with more than 30,000 transactions per second.