With ThinkCoin, all transactions will be checked on a blockchain, which means that settlements can be completed in seconds, not days. And also of course it will be safe
Is ti going to be problem if there is too many transactions?It it going to slow things down?
The more transactions there is the more load on the network and infrastructure, but hopefully that partnership with 0Chain means that we won't experience these kind of problems as 0Chain is great addition that has been signed specifically to avoid slow transactions under a heavy load in future when lots of people will be using TradeConnect.
I still remember what those cryptokitties did,i sure hope that wont be problem in the future.
Yeah, cryptokitties were a real craze.No transactions were going through and there was like 16k pending transactions at the time. Scalability is big issue in general in crypto, but as I said it's good to see that TCO team is already thinking about it and partnered with 0chain to avoid those kind of situation hopefully
We use a hybrid blockchain system so we can handle many many transactions! You can learn more about it here:
https://medium.com/thinkcointoken/a-hybrid-approach-to-blockchain-ea2bf6ade3b8Great to hear that you are thinking about that,and that you have solution.
The medium is redirecting us to their website and whitepaper for more info, but can someone here write in short what would the benefits of a hybrid system be? thank you!
I second this notion for better clarification of the hybrid part - just in short what is it comprised of?
Just a reminder the article is there.
To put it in really simple terms, having the entire trading platform on the blockchain isn't feasible with where Ethereum is currently at. In the future it may be possible though. Think of it like this, every trade needs two separate smart contracts, one for the offer, and one for the person matching (with both needing to be mined on the Ethereum network). Scaled up to tens of thousands of contracts, it's too much load.
The hybrid approach solves this. All finalized trades are recorded to the blockchain, giving the security and immutability. Before trades are finalized, the system uses an offline blockchain, which can handle almost limitless trades.
By combining off and onchain we can get the best out of both systems, overcoming the scalibility limitations of Ethereum currently. With plasma that will likely change, and we may be able to move our entire platform on to the live Ethereum network.
We hope this helps! Any questions, please feel free to ask!
