They talk about mass adoption but trying to pay for a coffee costs you $8 in fees, and you have to wait 15 minutes at the counter for them to confirm the network. Ridiculous.
The “store of value” excuse is only there to cover up the fact that the technology is slow and expensive.
Thread 👇
Satoshi sold the idea of peer-to-peer electronic cash. I don’t know at what point the maxis normalized the idea that moving your own crypto ends up being more expensive and more annoying than using a bank you’ve had forever.
That’s why I think what Nano ($XNO) is doing is brutal.
The trick with $XNO is that it sends the bottleneck of traditional networks to hell. They use a structure called a Block-Lattice. Instead of everyone fighting and paying to get their transaction into the same block, each account has its own blockchain.
Zero miners, zero commissions. Literally.
And since there’s no congestion, the payment goes through in less than a second. It’s faster than paying with your card at the point of sale. And on top of that, because it doesn’t use mining, the whole network consumes the same as a couple of light bulbs.
I know the maxis will jump in with, "But use Lightning! or wait for the next Layer."
People, why depend on patches and headaches with liquidity channels when the main network of $XNO already does the job perfectly? Good money should be free and instant. I’ll read your thoughts. https://nano.org/en
The “store of value” excuse is only there to cover up the fact that the technology is slow and expensive.
Thread 👇
Satoshi sold the idea of peer-to-peer electronic cash. I don’t know at what point the maxis normalized the idea that moving your own crypto ends up being more expensive and more annoying than using a bank you’ve had forever.
That’s why I think what Nano ($XNO) is doing is brutal.
The trick with $XNO is that it sends the bottleneck of traditional networks to hell. They use a structure called a Block-Lattice. Instead of everyone fighting and paying to get their transaction into the same block, each account has its own blockchain.
Zero miners, zero commissions. Literally.
And since there’s no congestion, the payment goes through in less than a second. It’s faster than paying with your card at the point of sale. And on top of that, because it doesn’t use mining, the whole network consumes the same as a couple of light bulbs.
I know the maxis will jump in with, "But use Lightning! or wait for the next Layer."
People, why depend on patches and headaches with liquidity channels when the main network of $XNO already does the job perfectly? Good money should be free and instant. I’ll read your thoughts. https://nano.org/en