Topic: [ANN][SOLD OUT] BABB - Bank Account Based Blockchain - page 11. (Read 45131 times)
Hey community! The BABB product team is looking for feedback to help their development. If you own/work for a business which accepts credit card payments they want to hear from you!
Check out this video here for more information :
https://www.youtube.com/watch?v=HQsdh3_DZ0Y
So, going back to BABB dedicated blockchain platform... The biggest concern I have is scalability. Ethereum network is capable of doing 15 transactions per second and as a comparison, Visa does about 45,000 per second. With this being said, as more people use Ethereum network, the longer it will take for transactions to go through. And there are many other erc20 tokens and more are being created. So I'm concerend that soon it will be taking hours for transactions to go through (similar to situation with bitcoin right now) and people will not like this and therefore will not use BABB as it is an erc20 token and uses Ethereum network. Of course, Etheruem is working on scalability issues, but it's not certain how it all will work out and I hate to think that BABB success depends on Ethereum. So I think it would be much better for BABB to have their own blockchain eventually. I'm not saying that this should be done immediately, but this should definitely be considered
Thank you for your input. Right now the plan is to do the federated Babb blockchain on an Ethereum codebase (do not confuse with ETH-based public blockchain). BABB will remain an ERC-20 token but it will run on it's own federated (private) blockchain.
So, going back to BABB dedicated blockchain platform... The biggest concern I have is scalability. Ethereum network is capable of doing 15 transactions per second and as a comparison, Visa does about 45,000 per second. With this being said, as more people use Ethereum network, the longer it will take for transactions to go through. And there are many other erc20 tokens and more are being created. So I'm concerend that soon it will be taking hours for transactions to go through (similar to situation with bitcoin right now) and people will not like this and therefore will not use BABB as it is an erc20 token and uses Ethereum network. Of course, Etheruem is working on scalability issues, but it's not certain how it all will work out and I hate to think that BABB success depends on Ethereum. So I think it would be much better for BABB to have their own blockchain eventually. I'm not saying that this should be done immediately, but this should definitely be considered
This shows the reasoning behind running a staged token sale : https://www.youtube.com/watch?v=DpeiUS2YzjE
These are conditions for the second phase of the token sale: ( This is seperate from the equity sale )
a) a banking licence
b) at least one international partnership with a bank
c) a working product
These are conditions for the second phase of the token sale: ( This is seperate from the equity sale )
a) a banking licence
b) at least one international partnership with a bank
c) a working product
Oh no! You've completely missed the reason for these different funding stages. BABB is focused on raising just the amount needed for development and not more than is required. The first stage of the ICO was to get started with development and preperation for banking license applications.
The BABB team has released an article outlining RBP issuance to UK and Lithuanian regulators, as well as thanking the near 1300 investors for their support reaching the 1.5M pound minimum target!
Read more here : https://medium.com/babb/equity-crowdsale-100-funded-9c41da875af8
Read more here : https://medium.com/babb/equity-crowdsale-100-funded-9c41da875af8
But Babb are building on a federated private blockchain with partner banks as the node operators. They don’t want to be on a public network. So it doesn’t even fit in with Babb’s objectives. So stop shilling that project here.
Hey fisnish
I'm not sure I understand your point correctly.
What do you mean by " it doesn’t even fit in with Babb’s objectives"?
How will the federated blockchain prevent BABB from achieving their goals?
I disagree, ETH will be at the forefront for the foreseable future. The other platforms are just copying Ethereum and making minor tweaks. They are also faster because it's not being adopted as much as ETH, so volume is low - making them faster.
But Babb are building on a federated private blockchain with partner banks as the node operators. They don’t want to be on a public network. So it doesn’t even fit in with Babb’s objectives. So stop shilling that project here.
BABB hopes to be a bank themselves one day (if they are granted a license). So, in that case, they would very much be competing with brick and mortar, and online banks.
Although little late but feel necessary to give feedback on successful ending after getting the maximum threshold for equity shares. It was great opportunity for many people to become early shareholders and lot of used this opportunity. Having own pro-crypto bank on the back of token will show results on grounds in reality. This is beginning for huge future well done.
From everyone at BABB, a huge THANK YOU to each and every one of our new shareholders who have helped us reach the £1.5 million target!
https://twitter.com/getbabb/status/1025392237390323712
P.S. This is excellent news and the result says that there are many people who believe in BABB and I, too, is one of these people. Good luck to all of us!
Congrats to every participant and to all the BABB team, the Equity Crowdsale target has been reached 100% https://medium.com/babb/equity-crowdsale-100-funded-9c41da875af8
Would the data stored differ from your neighbor or be equal as the network increases
The protocol will take into account the amount of individual resources or just max out whatever you have
So the storage hdd would just auto max out asap
The protocol will take into account the amount of individual resources or just max out whatever you have
So the storage hdd would just auto max out asap
Could I clarify what data you are referring to ?
Thank you for the clarification the transactions/sec will be know closer to the alpha launch dates.
This time this project got very nice response almost close to achieve their target 99% have been raised so far. This is very nice opportunity for people to invest into attractive offer which will help them to generate nice profit.
Would the data stored differ from your neighbor or be equal as the network increases
The protocol will take into account the amount of individual resources or just max out whatever you have
So the storage hdd would just auto max out asap
The protocol will take into account the amount of individual resources or just max out whatever you have
So the storage hdd would just auto max out asap
Could I clarify what data you are referring to ?
Would the data stored differ from your neighbor or be equal as the network increases
The protocol will take into account the amount of individual resources or just max out whatever you have
So the storage hdd would just auto max out asap
The protocol will take into account the amount of individual resources or just max out whatever you have
So the storage hdd would just auto max out asap
Could I clarify what data you are referring to ?
I'm just curious, not a lot of money has been spent on marketing for the crowdfunding, no? I feel like it was just around the community and whatever one-on-one talks you've had with big investors
Yes, you are right all of the marketing and promotion was in the TG community, getBABB subreddit, Facebook and bct forum. However the equity sale is almost complete. check it out http://www.crowdcube.com/babb
Would the data stored differ from your neighbor or be equal as the network increases
The protocol will take into account the amount of individual resources or just max out whatever you have
So the storage hdd would just auto max out asap
The protocol will take into account the amount of individual resources or just max out whatever you have
So the storage hdd would just auto max out asap
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