RE: 🔰 Nano Coin (XRB) - An indepth Overview 👈😏.
🔸Poor Scalability - If are aware of the term block size then we are pretty much sure you know that in most of the cryptocurrencies that are being mined per block basis, because the size of each block is limited as defined by its block size, the no of transactions that can be processed per sec or you can say fit into a block is also limited and thus, is the main bottleneck.
The steem blockchain can manage more than 100 transfers per second. We are not at VISA levels but it's still quite remarkable
🔸High latency - Trying to buy something in a grocery store and waiting in the queue for minutes before our transaction gets confirmed by the network 😂 is definitely not what we would want in a cryptocurrency if we intend to use it in our day to day life. Would you ? Sadly this is the current scenario with most of the so-called cryptocurrencies and are so far from being used over regular traditional methods. We want a low latency cryptocurrency which behaves just like handing over cash 💶 to someone or paying via a card.
What about STEEM and SBD ? Three seconds for the seller to see the coins on his account, 45 seconds for the transaction to become irreversible. That's very competitive with the current fiat infrastructure
That being said, a very good article!
Actually, no coin or platform is perfect and has it own unique sets of problems, Steem exists because of some inefficiencies with Satoshi Nakamoto's bitcoin likewise if Nano exist there must be some other inefficiencies with current cryptocurrencies too. If one coin excels at something than maybe another coin excels at some other stuff but none is the holy grail of coins or platform rather they can coexist and complement each other in the whole decentralized ecosystem(just like we have different protocols forming the base of the internet), so we thought of just summarizing the concepts to the readers and we are glad that you liked the article.