Bitcoin wastes an obscene amount of energy for a theoretical maximum of seven transactions per second globally. How is that even remotely scalable?
It also lays the groundwork for scaling tech that will vastly increase the transactions per second.
Compared to Bitcoin, there are consensus mechanisms that are a lot faster (3 orders of magnitude), cheaper (almost free transaction cost), near instant finality (seconds, not 1 hour) and leave almost zero carbon footprint. They just haven't been proven out at scale yet.
Correct me if I'm wrong, but this still falls far short of like, VISA.