Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [IMPS] Instant Microtransactions Payment System [EXCHANGE ONLINE!]
by
ONEADev
on 21/06/2018, 11:42:36 UTC
73 transactions per second won't get you anywhere if you want to be a micro transaction payment system and serve the world as the go to platform.

Depends on the use case, can act as a local currency to serve as micro transaction.
Also we can make Layer-2 solution to solve the issue.

You can say the same to bitcoin as it is, 7 transactions per seconds can't serve humankind.. can't even serve an middle size town.

Any blockchain project is in the same boat regarding scalability so stop try to pick on our project.

Sincerely IMPS

Which by the way is true. In its current form Bitcoin can do shit. With Layer-2 solutions things will change, but then the question is why should someone use your network and not Bitcoin?

Transaction Fees

Trasactions fees is one of the reasons, other things are Bitcoin code is kind of centralized which postpones and slow downs innovation. Scalability issue could be resolved couple of years ago. There is just a few Contributors that actually are truly involved in the Bitcoin code.

But if you think Bitcoin will be the only cryptocurrency out there and no one will compete or outrun Bitcoin you are just foolish. Bitcoin will not last forever, there will be another cryptocurrency that will outrun Bitcoin when it comes to scalability, adoption and transaction speed (TPS) and zero/low transaction fees if they not fix this Layer2 solution very soon and get great adoption.

And no, i don't say that this is our project. We are just one of the actors on an open market. Anyone can start a new altcoin and try to compete.

But honestly, you should start questioning the existing actors (such as Bitcoin - current 4-7 TPS and Ethereum 15 TPS) and then start talking about adoptiong and scalability. Another thing is transaction fees (not even gonna cover that in this message)

Best Regards IMPS