3 ms·
> That way, you get the fastest and cheapest transactions possible. Not currently. Have a look at the Nano cryptocurrency (renamed from RaiBlocks): it has inst
by koonsolo 9y ago
> That way, you get the fastest and cheapest transactions possible.
Not currently. Have a look at the Nano cryptocurrency (renamed from RaiBlocks): it has instant and free transactions, and should be scalable (but this last part is not proven in practice yet). The instant and free is definitely true in practice already.
Recently a redditor calculated a single wind turbine could power 7000 transactions per second (https://www.reddit.com/r/nanocurrency/comments/7ucw1a/the_entire_nano_network_is_so_efficient_that/ https://www.reddit.com/r/nanocurrency/comments/7ucw1a/the_en...)
The new generation of cryptocurrencies is here to compete with the previous ones, and with the established financial services.
Exciting times.
Disclosure: I own a few of those coins
- clarkmoody 9y agoNo cryptocurrency can beat a centralized database for speed and cost.
- koonsolo 9y agoYou mean a single point of failure central database? How much uptime do you expect for such a database? 99.9%? Where is this database located? In US while I do payments in Australia? I think you are seriously underestimating the complexity of a decent payment system.