With the rise of many blockchain platforms and cryptocurrencies there is always something new which captures the attention of people. Despite being surround by various crypto currency platforms Toncoin is making big waves not because its another crypto currency in the market but because of its Origins. Toncoin was developed alongside Telegram which boasts being the most popular messaging apps globally and due to these qualities, toncoin stands out as a crypto projects some serious potential in it.
If you are a crypto enthusiast you would be well aware of the fact that the crypto platforms and blockchain platforms are facing many challenges which are still being faced despite the user base is increasing at a rapid pace. We will explore how Toncoin crypto news is handling these challenges in the most efficient way that’s makes it the noteworthy and a key player in the crypto world.
The Problem: Common Roadblocks in the World of Crypto
However, Cryptocurrency has exponentially become a game changer in the field of finance but there are some important issues still lying unanswered for example – If you have ever tries using Bitcoin or Ethereum for your every day to day transactions, chances are you have encountered the below listed obstacles that we going to explore in details –
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Scalability–The most common issue for most of the cryptocurrencies is that they don’t have a network support to handle many transactions at once. Some big players like Bitcoin can manage around 7 transactions per second and on the other hand Ethereum can process about 30 transactions per second comparable to the other traditional services like Visa or Mastercard which can handle around 24,000 or 20,000 transactions per second. This brings the most burning questions of the capability of crypto currency’s network to handle a large number of transactions per second to scale crypto for everyday use.
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Transaction Fees- It has been observed that whenver networks like Bitcoin or Ethereum gets busy their transaction fees shoots up. For example Ethereum’s gas fees has been known to sore during high demand and high transaction timelines making it impractical for small transactions.
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Centralized Platforms– While many blockchain platforms or technologies are decentralized but many services that lets you buy, sell or store your crypto assets are centralized and this very reason creates a point of failure that is almost similar to the traditional banking systems which was the exact same thing crypto claims to avoid at the start.
Agitation: Why These Issues Matter
These are some very common and practical issues that makes the usage of cryptocurrencies harder but they also limit the broader adaptation of the blockchain technology. If any network is not very well equipped to handle thousands of queries or requests per day then how can we scale it to be a big player to handle the everyday use. Moreover, if you actually had to rely on the centralized systems to manage your crypto then you are going to be exposed to many of the similar risks the banking institutions face like hacks or Shutdowns.
To make cryptocurrencies reach their full potential they have to be really scalable cheap to use and properly and fully decentralized system so that they can be scaled to handle a large number of queries or requests, that’s where Toncoin Crypto News Comes in as it can handle a large number of queries very efficiently.
Conclusion
We live in a world full of Blockchain projects that are constantly emerging in such a world Toncoin Crypto News sets itself apart by addressing some of the core issues that have held back cryptocurrencies to be able to be adapted by a large number of people for their day to day transactions. Because Toncoin is tied with Telegram which itself is a robust Blockchain infrastructure and provides solutions for scalability with decentralization Toncoin has the potential to become a key player in the crypto Landscape of today’s world.