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I do agree the transaction rate and fee are horrid. But there are other coins that solve this problem in a dectralized manner. Also there are some block chains

I do agree the transaction rate and fee are horrid. But there are other coins that solve this problem in a dectralized manner. Also there are some block chains that all cross chain atomic swaps. I've been working with a blockchain called Xaya and there is mentions of maybe implementing that as well. I might help on that front after my game is finished. More importantly though. Xaya implements merged mining and you can mine xaya( the coin is called chi) and bitcoin at the same time. So there are not so many problems as people claim or think with crypto.

headsoup 7y ago
How does that help reduce fees? Excuse my naivety, but can you share a bit more about cross-chain atomic swaps, what does that mean?
- CodiePetersen 7y ago
  The atomic cross-chain swapping means I can have assets or a coin on one chain and transfer it to another. In this case maybe transfer coins from bitcoin to the xaya blockchain for chi. It wouldn't really get rid of the transaction fees for bitcoin, but what it would do is allow you to transfer some amount of bitcoin out if you know you are going to be doing high frequency transactions. You could just do it on a lower fee blockchain and then put it back in your bitcoin account when you have done what you wanted to do. There is another possibility on Xaya and I believe Ethereum has implemented as well now. On Xaya they are called game channels. The idea is that you allow a side branching chain to develop between an arbitrary number of people, then when a game is over you inject the end of the side chain back into the main chain and verify it. They invented it for near realtime verification between consenting parties, then you only pay the main transaction fee when you get back on the main block instead of very every action. But that type of system doesn't have to be only done with games obviously, that could be applied to anything. If you are interested more in it, you can check this video out. They have lots of documentation and tutorials for the network as well. https://www.youtube.com/watch?v=wMd9mvc8pqA https://www.youtube.com/watch?v=wMd9mvc8pqA

headsoup 7y ago

How does that help reduce fees? Excuse my naivety, but can you share a bit more about cross-chain atomic swaps, what does that mean?

CodiePetersen 7y ago
The atomic cross-chain swapping means I can have assets or a coin on one chain and transfer it to another. In this case maybe transfer coins from bitcoin to the xaya blockchain for chi. It wouldn't really get rid of the transaction fees for bitcoin, but what it would do is allow you to transfer some amount of bitcoin out if you know you are going to be doing high frequency transactions. You could just do it on a lower fee blockchain and then put it back in your bitcoin account when you have done what you wanted to do. There is another possibility on Xaya and I believe Ethereum has implemented as well now. On Xaya they are called game channels. The idea is that you allow a side branching chain to develop between an arbitrary number of people, then when a game is over you inject the end of the side chain back into the main chain and verify it. They invented it for near realtime verification between consenting parties, then you only pay the main transaction fee when you get back on the main block instead of very every action. But that type of system doesn't have to be only done with games obviously, that could be applied to anything. If you are interested more in it, you can check this video out. They have lots of documentation and tutorials for the network as well. https://www.youtube.com/watch?v=wMd9mvc8pqA https://www.youtube.com/watch?v=wMd9mvc8pqA