The quantity of data capacity available for transactional activity on a network is known as bandwidth.
What Is Bandwidth?
Bandwidth is quantified by the number of megabytes or gigabytes per second processed on a network. When the bandwidth limit on a network is reached, the data flow becomes insufficient to manage the volume, and connections slow down.
In simple terms, bandwidth refers to how much data you get per second, whereas speed refers to how quickly that data is processed or downloaded. Let’s use the example of filling a bathtub. More water can flow at a faster pace if the bathtub faucet is larger than usual. Consider water is bandwidth and the pace at which it flows is the speed. Bandwidth is sometimes confused with internet speed, although it refers to the quantity of data that can be transferred through a connection in a given length of time (quantified in megabits per second) (Mbps).
You’ll need extra bandwidth to keep up the speed if you have many devices connected to the internet at the same time. To achieve the expected experience without a lot of buffering or latency, streaming, gaming, and other high-capacity activities require a specific level of internet speed. The more bandwidth your internet provider can supply, the faster you will be able to get things done.
In terms of longevity, the physical infrastructure intended to manage bandwidth is made to endure everything that comes its way. Regardless of what some internet service providers claim, bandwidth is a limited resource. Because of its scarcity, it is extremely valuable.
The bandwidth would function as a form of currency on a decentralized network, unlike Dollar. Like bitcoin, bandwidth may enable complete transparency and security without the need for a centralized financial institution.
In reality, humans have utilized a variety of substances as a kind of exchange. A stable currency, on the other hand, must have the following characteristics: trustworthiness, longevity, divisibility, and uniformity. It should also be rare, clearly identifiable, and challenging to counterfeit.
As a result, bandwidth has the potential to become a super currency that can function without the presence of a central bank.
The main issue with bandwidth is the currency’s trustworthiness. A physical, virtual, electronic, or abstract currency cannot survive without trust and belief in the system.