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Author Topic: Is Iota Getting Faster and Therefore more usable.  (Read 229 times)
Bitbtc8
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October 11, 2019, 08:30:23 AM
 #21

Been faster doesn't mean more usable, if i am wrong then iota should have beat most top 10 coins and its not comparable to bitcoin, what will make a coin be more usable is more than just its transaction speed this feature is included in most altcoins and yet they fail

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magneto
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October 11, 2019, 11:11:09 AM
 #22

I am an iota owner - Bitcoin refugee.

All I want from these coins is the ability to send value to another person in a timely manner. Bitcoin did the  job at first but fees killed its usability.

I have been sending iotas to my own accounts. I have 3. Two on computers and one on my phone. The other days I checked up on speeds of transactions and was astounded by the conformation times. Seconds to Sending/Receiving and then conformation follows soon afterwards. Making Iota a usable tool.

Do you agree with me that Iota speeds are getting better..?

Firstly, I'd suggest that you look at BTC now because you may not be up to date with recent developments.

With segwit and the introduction of LN, fees have come down drastically which is part of the reason why I think BTC dominance went up a ton while alts continue to fall despite BTC's bull market earlier on.

Secondly, I'm also an IOTA holder, but probably for a different reason. I like the fact that there are free transactions, but that's not the main point. It's really a hedge against quantum computing and scalability for me.

I've seen a lot of positive developments from IOTA devs, and the new wallet GUI looks clean. But honestly, it's not ready for mainstream adoption or is anywhere near it. Tangles are still a new thing while blockchains are now aged technology.
bstr156
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October 28, 2019, 07:37:02 PM
 #23

Quote
Syscoin can achieve over 60,000 transactions per second

Wow.. Thats amazing.

I may be wrong as I didn't spend too much time on their site.

I run Linux and couldn't find a linux wallet.



Depends on network latency.  Third party tests within realistic net latency conditions, and various other factors, showed 30k-60k tps.  Zero-latency control group showed 141k tps.  The Syscoin ZDAG net is also decentralized (no central watchers necessary) and benefits from global consensus.  With current mesh network, resources, topo algo, parallel sig veri, etc, it catches 99.9999% of double spends within ten seconds, but that's expected to speed up w/ some additional optimizations being worked-out.  All ZDAG transactions afterwards roll to SHA256 PoW (Bitcoin Core compliant) for onchain finality; full history retained for all transactions across the DAG.  All Syscoin Platform Tokens (assets, etc) utilize ZDAG.  Generating a token costs 500 SYS.  

Another cool thing about ZDAG since it is probablistic across time - it enables users/merchants/devs to determine their own ideal security vs speed trade-off.  Gives them the power to decide.  Example, if you feel comfortable w/ 99.99% validation of a microtransaction valued at $10, you only have to wait a couple seconds before determining it "paid" and/or respending.  If value is much higher, one might opt to wait longer, or go as far as wait for SHA256 finality at a blocktime targeted at 60 seconds.

Aligns w/ the idea of bringing the tech to people rather than trying to drag people to the tech.  People are capable of telling the difference between sending value of ten dollars vs one-million, and are capable of determining their own security/speed trade-off.

Syscoin Community member
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