Quote from: chanc3r on February 08, 2014, 12:06:00 AM

Quote from: Mario123 on February 07, 2014, 10:13:45 AM

ind ourself that the POSSIBILITY of 1000TPS brings us to 1000TPS in a few years. If we now state "not possible", we lose one feature.

1000TPS will not even touch the sides in a few years, if NXT manages to get it right.

In the adoption of e-currency in emerging markets are light years ahead of western markets. I know its not crypto but the average citizen in the emerging market cares about the outcome not the technology and in this model crucially the bank or telco offering the service helps the person get the money back if it goes astray - when your income is $10 / day then you are very careful where you put your money.

There have until recently been just 2 african countries where this has taken off but from 2012 this phenomenon has been spreading to other countries where telco's or banks basically take away the FIAT and provide electronic tokens that can be used by dumb text phones, to move money electronically and instantly via and e-wallet and yes these phones will be around a long time. no PCs no smart phones - these countries are still toxic to these technologies.

The recent GSMA report I've seen shows at least 10 countries where adoption of this way of paying is following a hyperbolic or hockey stick trajectory. In one of these countries the transaction platform can perform around between 300-400tps and resides in Europe not Africa.

Over a day in one of the major African markets demand can go from 0tps to 500tps, this is with only around 15m active customers and the market is less than 30% penetrated in terms of retail transactions and this is only one country. Average transaction time is <10s with full confirmation (yes this includes shipping everything from Africa to Germany and back) and for small transactions the cost is ZERO.

This kind of stuff is now being trialled in India, and there the transaction volumes will be way higher than 1000tps if you break into the for retail space, but for retail unlike general P2P you need instant transactions - VISA fakes it (authorise and then clear later), the e-money platforms do it all realtime and currently the crypto currencies do not address the problem of the retailer. Although some posts from I think cfb about how to implement instant transactions is the first I've seen of a crypto solution to this problem and i would hang onto it even if its implemented later.

So I would plan for far higher than 1000tps, solve the accompanying block chain problem and make sure you can do instant transactions, unless you just want to nibble around the crumbs that VISA / Mastercard will drop - both of whom have bough e-money platform companies...

Using blockchain FIFO, we should only be bandwidth limited. Have not heard any objections to using FIFO for blockchain. That solves the giant HDD usage. binary format and adaptive max TPS will allow support of 1000TPS bursts with 100kbps.

this means in Belarus, bursts of 10000 TPS will not be a problem

James

P.S. Still waiting for feedback on blockchain FIFO, not sure why nobody does this.