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Author Topic: Crypto  (Read 923 times)

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« Reply #30 on: Saturday, April 30, 2022, 10:48:46 »

Yes a 5 second search can pull up the same rehashed research article from multiple outlets - unsurprisingly research carried out by a company with what looks to be a vested interest in the success of crypto - “ We are the bridge between the crypto and the institutional worlds”.

What it won’t give you is analysis on the sense of scale. The folding ideas vid covers this at c.16 mins (with cited references) and examples.

I’ll paraphrase; people claim that the global banking industry uses far more energy than crypto. Technically this is true, however that’s the banking system for over 7 billion people, not a few hundred thousand crypto investors. Scaled per transaction, crypto uses vastly more energy than traditional banking systems.

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Harry McGirty's Banging Your Mum

« Reply #31 on: Saturday, April 30, 2022, 14:54:30 »

If XRP were the utility asset for world banking and cross border transfers I can guarantee you it uses way less energy than traditional banking. They've done plenty of scalability testing too with some fairly large banks. MoneyGram have done testing with them. The SBI, Santander, Canadian BoC, Partnered with AWS, TransferGo...there's more but you can go and check for yourself Smiley

XRP for one doesn't using PoW anyway so involves no mining incentive. It's mostly done via Trusted Validator Nodes and based on consensus to approve transactions. It doesn't discriminate between other currencies (digital or FIAT). At present it can handle 1500tps at a fee of $0.00001. To put that in comparison to other crypto...ETH can currently do 10tps and BTC only 4-5tps.

But you know, don't get sucked into the mantra that BTC and ETH are the only crypto around by those who haven't checked out much else Smiley

You reds x

"I'm not sure if they've had their Jaffa Cakes but that was non-stop!"
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