Author: gunner719 - https://bitcointalk.org/index.php?action=profile;u=1964273
Problems
Though all the indexes are going down for a while, the cryptocurrency market seems to gain more popularity every day, proven by its total market capitalization which stands at more than a quarter of a trillion dollars - an incredible feat regarding it is less than a decade old.
However, there are still major problems constraining it from achieving its potential. Some can be addressed as follows:
1. The conflicting benefits between users and miners
One side want cheap fee while the other count on the fee to earn a living. How to balance both sides' benefits to establish a sustainable network? That's the biggest question many blockchain projects need to answer. For now, some networks offer reasonable fees, but when large adoption takes place, the fee could largely increase due to their incapability to scale up.
2. Transaction Delays
The cryptocurrency users are usually annoyed with lengthy delays across almost every type of transaction, affecting the trading experience or even critical loss for your business, making many firms are conservative on accepting it in their online retailing.
Moreover, mostly, depending on the fees attached to transactions, miners decide which transactions to confirm first, meaning you have to pay more if you want your transfer to be done quickly. Of course, no consumers want to pay more and no business wants their customers to pay that unnecessary cost from which they don’t benefit.
Scalability issue has been identified by blockchain specialists and many proposals have been raised yet non seems to be the right. As the blockchains become longer, more transactions are being held up awaiting approval.
3. Price Issues
Meant to be the P2P payment method, Bitcoin is now ironically impossible to fulfill that mission because its price is high and therefore, network fee as well. Some altcoins born to replace Bitcoin for that reason are now in the same situation. ETH, NEO, etc. to name a few.
Moreover, the market is highly volatile, making both individuals and businesses stay away from using cryptocurrencies as the payment method. And as such, the above-mentioned delay problem can be even more costly.
Nexty Solution
Nexty is a blockchain-powered ecosystem making it easier for e-commerce and Fintech startups to raise funds from community. Nexty itself has a Dual Cryptocurrency Confirmation System (DCCS) containing a major currency called NTY used for making transactions and a second one called NTF used for rewarding miners. Those who hold NTF would receive NTY monthly from Nexty's Proof Of Foundation algorithm with a minimal rate of 0.5% of the total amount of NTY. (This rate would decrease along the time yet the total NTY would rise up as well as its price).
Nexty plaform solves those problems with unparalleled features such as:
1. Zero Transfer Fees
As explained above, the DCCS helps to sustain a via blockchain network charging users no transfer fee while keeping incentives for miners to maintain it.
2. Instant Transfer
No more transaction delays, Nexty platform take only 2 seconds to process the transaction and can deliver up to 2000 TPS.
See it yourself here in this video:
3. Price Stabilization System
Assembling a group of economics specialists, the Nexty team aims to stabilize NTY's price at a stead level so that stakeholders won't be affected by its fluctuation. Then, they would leverage AI to replace the group to perform that task automatically.
If you want to learn more about Nexty, please visit:
https://nexty.io/
https://bitcointalk.org/index.php?topic=2498919
https://facebook.com/nextycoin
https://t.me/nexty_io