Solving the Slow In-Person Transaction Problem
One of the crucial features for a digital transaction medium to be viable for payments made in person is that it should be reliable, and nearly instant. A transaction, once created by the sender, should appear on the receiver's device within one to three seconds. Even five seconds may be acceptable, but from the point of view of an average user requiring....
Related News
Close collaboration continues to be the absolute necessity for blockchain success. The closer the collaboration between developers and commercial organizations, the better the results that emerge. And the closer everybody works with consumers, the more likely it is that the result will be something attractive to them. This technology is young: the tools to interact with it are designed largely for developers. Creating experiences for consumers is hard, and allowing consumers to interact with it directly can be even harder. An example: every action on public blockchains requires a....
An unnamed 37-year-old man was a victim of a theft from a gang of robbers who fled with 15 bitcoin (BTC), worth HKD 3 million ($387,000) in cash. They had agreed to meet in person for a crypto exchange transaction. Six Non-Chinese Suspects Allegedly Involved in the Theft Per the South China Morning Post, the bitcoin trader intended to meet in person in Hong Kong with the alleged buyers after an online conversation. Initially, the unnamed victim was paid the HKD 3 million in cash as agreed while in the robbers’ car, as he previously transferred 15 BTC to the buyers, outside a hotel in....
Bitcoin has many things going for it, relative to the current fiat currency system, and compared to any other digital currency on the market. Bitcoin is not perfect, though, and there are issues that many critics and users, would like to see improved before it can become a mainstream staple of global economics. One issue that is commonly mentioned is the pseudonymous nature, in that transaction can be traced, but anyone savvy enough, back to their originators. Governments like to be able to trace everything any person does. Many owners would like more privacy to be available, as every....
Despite the difficulties, Ethereum faces, the token has been holding the most successful altcoin’s title for many years. December 2020 was a pivotal moment for Ethereum: the network switched to the Proof of Stake algorithm. Together with sharding implementation, this transition aims to upgrade the network by solving the scalability problem and accelerating the speed of the validation of the transaction. This might give the network the second wind. When the second most significant cryptocurrency […]
Tendai Biti feels the unbacked nature of Bitcoin might make it easier for Zimbabweans to adopt it. Zimbabwe is a country that has gone through several financial crises already. Every time such an event takes place, there is someone to solve the problem. The last person to do so is Tendai Biti, who now has a radical plan to save the country’s economy. Rather than introducing new denominated bills, he feels Bitcoin may hold the answer to every problem. A rather unconventional turn of events, but an intriguing thought process nonetheless. Solving the economic crisis in Zimbabwe will not be an....