Tempo patent is filed!

Discussion in 'General' started by Fuserleer, Jul 17, 2017.

  1. Jazzer

    Jazzer The Dutch connection Staff Member

    Good questions. Here's my view on things. First, it is important to realise that Ethereum is basically a platform for smart contacts, primarily aimed at businesses and developers. Radix is a distributed ledger based platform with consumer applications targeted directly at consumers, ready for mass market scale. So yes Ethereum is a competitor, but the market that we're aiming at isn't hooked to Ethereum at all.

    Secondly, regarding the sharding itself, Radix has the advantage that the entire platform is built around a scalable core. Sharding is built straight into the technology, the rest of the software is literally built around that. Ethereum is a blockchain. Yes, they are trying to bolt on sharding after the fact, but it's going to be clonky as fck compared to Radix. Also, it's risky as hell to implement on a live network, don't expect it to go flawless and/or be done anytime soon. And even when it's done, it's still limited in functionality/speed by the underlying blockchain technology.

    In summary, I'm not too worried..
     
    Last edited: Nov 22, 2017
    Lloyd and Peachy like this.
  2. Anima

    Anima Founders Staff Member

    Because ethereums sharding does not allow for shards to "communicate". Its basically just multiple parallel blockchains and they will need HUGE amounts of shard to compete. How many tx can eth do on a shard? 10 tps?

    We do 1000+ tps.
     
  3. jmmc

    jmmc New Member

    What do you think guys about Cardano project, is it competitor to Radix? It seems to be very capable and serious project loaded with many talented people taking scalability (and other important aspect) very seriously.
     
  4. Blind5ight

    Blind5ight New Member

    “Bitcoin is processing a bit less than 3 transactions per second,” he said. “Ethereum is doing five a second. Uber gives 12 rides a second. It will take a couple of years for the blockchain to replace Visa.”
    https://techcrunch.com/2017/09/18/ethereum-will-replace-visa-in-a-couple-of-years-says-founder/

    Visa told MyBroadband in 2016 that VisaNet processes an average of 150 million transaction each day, or around 1,667 transaction per second on average.
    https://mybroadband.co.za/news/bank...-visa-and-paypal-transactions-per-second.html

    Merging timelines: ETH VISA scaling in let's say (optimistically?) 2 years, RDX VISA scaling right now but only available in let's say 9 months (for the public network launch (CEO mentioned this on a lecture)).
    Conclusion: RDX will have 1y and 3m to garner mass adoption (in terms of use).

    Sidenotes:
    i) There's different approaches/implementations to sharding (Radix has a more organic relation to it (designed with sharding in mind))
    ii) Price stability imo makes it immediately usable for spending (no worries of loss of potential gains).
    I am curious though to what they will peg RDX... (value pegging and price pegging mentioned above made me worry a bit tbh: Is there a stable peg anchor?)
    iii) If consumers/merchants use this for spending before other cryptocurrencies then businesses will flock to RDX (they all wanna make money... they will go where the money is (to be spend as opposed to the hodl CC's).
    iv) There's more than just payments/settlements. Meaning VISA scalability is not even the pinnacle scalability needed. RDX seems fit for this challenge as well.

    Concern: Time. As businesses settle in a tech (not necessarily the best (we all read the personal computer/operating system or social media comparisons)) their ability to transition decreases. Like concrete, solidyfing...
    Message to the team: Rushing is not necessary. This is a project to democratize the money of the people. Therefore security is paramount if you have a strong ethical sense. Next comes scalability for the technical sense. Adoption for the economical sense. Goodluck, eagerly following and ready to jump in when you guys blow the whistle ;)
     
    Last edited: Dec 1, 2017
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