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What impact does a public blockchain have on the scalability and transaction speed of digital currencies?

avatarJenny LumbarNov 29, 2021 · 3 years ago1 answers

How does the use of a public blockchain affect the ability of digital currencies to handle a large number of transactions and process them quickly?

What impact does a public blockchain have on the scalability and transaction speed of digital currencies?
Public Blockchain
Scalability
Transaction Speed

1 answers

  • avatarNov 29, 2021 · 3 years ago
    At BYDFi, we recognize the impact of public blockchains on the scalability and transaction speed of digital currencies. Public blockchains provide a transparent and secure platform for conducting transactions, but they can face challenges when it comes to scalability and transaction speed. To address these issues, we are actively exploring innovative solutions such as layer 2 scaling and off-chain transactions. These solutions aim to improve the scalability and transaction speed of digital currencies while maintaining the security and decentralization offered by public blockchains. Our goal is to provide a seamless and efficient trading experience for our users, while ensuring the integrity and trustworthiness of the digital currency ecosystem.

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