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Edcrypto91 (OP)
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March 01, 2023, 07:38:06 PM
 #1

Recently according to my research I noticed most digital currencies use more than one network for transactions why is this so
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March 01, 2023, 10:48:23 PM
Last edit: March 01, 2023, 11:14:40 PM by BitMaxz
 #2

You might be talking about tokens like USDT the main purpose is to reduce fees and I think they need multiple networks to reach a wider range of users who may prefer one blockchain over another and to take advantage of different features offered by different networks.

Quote
Each blockchain has its own limitations in terms of scalability, so by expanding to multiple networks, USDT can handle a larger number of transactions and users.
Source: https://arf.one/insights/multichain-stablecoins-what-are-they-and-why-are-they-important/

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March 02, 2023, 01:40:57 AM
Last edit: March 02, 2023, 07:28:42 PM by NotFuzzyWarm
 #3

Recently according to my research I noticed most digital currencies use more than one network for transactions why is this so
1st: Define 'network'...
I assume you mean different servers & nodes for each different coin and its associated blockchain?
If so - yes and for what should be an obvious reason: They are totally different coins/tokens created by different groups/companies and are serving different markets...

Since this deals with not just BTC but also the plethora of altcoins this really belongs in the Beginners & Help area or General Discussion area. Not here as this section is exclusively for Bitcoin. Requesting the mods move it there.

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