Yesterday I read about how Komodo had outperformed Visa's TX/s rate. You can find the article that I read here. This really got me thinking about the real world adoption of cryptocurrency and what we would need to do in order for payments via crypto to become widespread.
The GIST of that article is that Komodo successfully tested 10,000 TX/s which is equal to around 100,000 payments/s. In comparison to Visa's reported 1600 TX/s, this is a massive amount. The article goes on to talk about how this was achieved and then it glances over adoption. I'm making this post to expand on the thought of adoption.
What is in the way of cryptocurrencies and widespread adoption?
If the currencies are faster than some of the most used forms of payment today, the what is stopping them from being used? Is there anything that we could do (or start) to spark the interests of people around the world? Are there any other projects that have been this successful in TX/s?
I believe that if we work together as a community we can start to bring cryptocurrencies to the real world for payments on a large scale.
I wonder how this can be useful if there isn't enough adoption around this cryptocurrency to benefit from this incredible performance.The majority of those who considered adoption,limited themselfes to Bitcoin,which isn't a good option (3 tx/sec? LOL) so yeah,Komodo has to launch ad campaigns,contact companies about their achievements hoping for adoption.The GIST of that article is that Komodo successfully tested 10,000 TX/s which is equal to around 100,000 payments/s. In comparison to Visa's reported 1600 TX/s, this is a massive amount. The article goes on to talk about how this was achieved and then it glances over adoption. I'm making this post to expand on the thought of adoption.
What is in the way of cryptocurrencies and widespread adoption?
If the currencies are faster than some of the most used forms of payment today, the what is stopping them from being used? Is there anything that we could do (or start) to spark the interests of people around the world? Are there any other projects that have been this successful in TX/s?
I believe that if we work together as a community we can start to bring cryptocurrencies to the real world for payments on a large scale.
Yeah 3 TX/sec is such a joke. I also think that there needs to be some sort of user-base of people who need to be willing to use it. Maybe there could be an expansion of #paywithlitecoin like #paywithcrypto.
