Microtransactions and the user experience

The big question, What can you do with microtransactions, and why could they be the number one use-case for all blockchains? In many respects, this is a significant step for blockchain technology. It’s the area of the tech that has completely failed to this point.

When people discuss blockchain scaling, they normally allude to the problem of getting a transaction confirmed quickly, cheaply and having enough block space to process plenty of transactions per second. This is indeed an issue, and is definitely one factor that has hindered mainstream and merchant adoption. No one enjoys services that are unpredictable, slow, and expensive.

Microtransactions are an intense reaction to this issue. Which basically says, “I want to take the smallest unit available on the network and send it to someone else on the network. The cost for this transaction should also be equal to or less than the smallest unit on the network. This should also happen instantly and have the capacity for hundreds of thousands of transactions per second!”.

find out more on:

• decred.org
• bisonrelay.org
• cypherpunktimes.com