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Topic: Emerging Exchange Innovation In Crypto: An Eye Opener For Newbies. (Read 81 times)

cryptoaddictchie
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Emerging Exchange Innovation In Crypto: An Eye Opener For Newbies.
August 26, 2022, 06:29:32 AM
#2
Quote from: Cryptomultiplier on August 26, 2022, 05:33:37 AM
Should newbies just getting into the crypto exchange and trading be advised to try out emerging innovations?
 Should familiarity be created first by using the already established visa and MasterCard mode of the transaction before trying out other options like lightening 101?
Im not familiar with that but innovations connected to real deal technology might also pose a risk to users especially if gone by to a wrong one.  Mastercard related projects are should be more careful cause you are gonna connect your debit/credit to a platform so exercise double careful.

How about using traditional one like decentralized or known exchange for that?
Cryptomultiplier
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Re: Emerging Exchange Innovation In Crypto: An Eye Opener For Newbies.
August 26, 2022, 05:33:37 AM
#1

For the fact that Bitcoin’s decentralized design allows only 7 transactions per second when the demand to use the network exceeds 7 transactions, users experience long waiting times and high fees.
A new Lightning Network built on top of Bitcoin is the latest which is a layer-2 protocol. It can theoretically allow millions of instant transactions per second that cost way less to send. If it gains more users, it can reduce the fees of other tech giants like Visa and Mastercard, along with the entire global remittance market.

This Lightning 101 innovation, however, seeks to increase the count and speed of transactions and lower cost, by moving activity to a second network while it remains decentralized. If BTC should go ahead to adopt the Lightning 101 network, it has the potential to replace existing payment processors for fiat transactions without users giving thought to the fact that BTC was used as the underlying settlement layer.

Should newbies just getting into the crypto exchange and trading be advised to try out emerging innovations?
 Should familiarity be created first by using the already established visa and MasterCard mode of the transaction before trying out other options like lightening 101?
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