Wish to announce yet another crypto currency called Atcoin (ATC).
The purpose for this new crypto is not just to clone an existing crypto to add to the already existing and ever growing number of cryptos out there but to actually try and address some problems with current cryptos.
Almost all current cryptos have very long confirmation times (block generation) which really make them almost useless in a real world (over the counter) transaction. Imagine going to a 7/11 and buying a drink and then asking the staff to wait for 10 minutes confirmation (or 2.5 min in the case of LTC)
. Just shortening the block generation time is really no solution as it just leads to a much larger blockchain. In the end these long confirmation times would make it impossible to use the crypto to pay in the real world unless 3rd party transaction businesses would be the middleman which would guarantee the amount transferred. This would be just another payment processor situation with control over transactions and of course charges for the consumer (as in credit cards).
Another issue with current cryptos is the ever growing blockchain. At the moment the blockchains of the bigger cryptos are already in the Gigabyte range - but as of yet hardly any people have adopted these currencies and hardly any transactions are done. What will happen when the user base reaches 100 million people? what if the 100 million people did 2 transactions each day. The blockchain would be so bloated that no single person could download it onto their computer, let alone their phone.
We have identified these 2 issues as major concerns for the future of cryptos and the survival of cryptos and will try to address them in this new crypto currency ATC.
Will keep you updated on the progress of this project.
Any input welcome
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