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by noosphr
327 days ago
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>Bitcoin wasn’t designed for high throughput >>Commerce on the Internet has come to rely almost exclusively on financial institutions serving as
trusted third parties to process electronic payments. While the system works well enough for
most transactions, it still suffers from the inherent weaknesses of the trust based model.
Completely non-reversible transactions are not really possible, since financial institutions cannot
avoid mediating disputes. The cost of mediation increases transaction costs, limiting the
minimum practical transaction size and cutting off the possibility for small casual transactions From the bitcoin white paper. >I’m referring to projects like the Helium network, which rewards people for running network nodes OK, what's the clearance rate for helium? Visa clears 35,000 a second. |
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