Currently, the bitcoin network does about 3-7 transactions per second. How much can taproot theoretically increase that?
Assuming a current throughput of 5 transactions per second, we get only about 150 million transactions per year. How can a population of 8 billion adopt the bitcoin standard if everyone wants to hold their own key?
Currently bitcoin is about 3-7 transactions per second, how much faster can taproot theoretical increase it to?
I do not consider transaction per second useful for Bitcoin and use outputs per day: https://bitcoinvisuals.com/chain-output-count-day
1,000,000 outputs per day. So, 11 outputs per second.
Block space savings with Taproot:
1 MB per day with schnorr signatures: https://web.archive.org/web/20201214095704/https://www.advancingbitcoin.com/blog/evolution-signature-size-bitcoin/
50% less size for multisig inputs
Other improvements related to Taproot:
let say with a current speed of 5 transactions per second, that is only about 150 million transactions per year, how can a population of 8 billion adopt the bitcoin standard if everyone wants to hold their own key?
Holding the key doesn't require block space. Transactions on-chain require block space which is limited and will always be limited so that everyone can run a full node and Bitcoin remains decentralized.
Bitcoin scales in layers: On-chain, Lightning Network, Sidechains (Liquid, Rootstock)