If the top cryptos were created today, the hands that created them would have been mindful of the number of people yearning to become part of them. Merely a handful of transactions per hour is not at all enough. What the world needs to scale for the future is at least 10,000 transactions per second, which Bitcoin.ℏ offers thanks to being built on Hedera Hashgraph.
This project, which combines the legacy of the mainstream assets and brings them to the modern age through speed and security, presents users with something unique, something sustainable. It has the perks to become a future-friendly project, both in terms of speed and security.
Transactions per second, as the name suggests, is a simple measure of how many transactions can be done per second. Back when legacy blockchain systems were created, achieving even a handful of transactions per hour was considered an achievement. The reason for that optimism was simple: there was no vision about the applications that could be created using the technology. The focus was only on decentralized finance and an alternative currency, nothing more.
However, times have changed. Utility is the bread and butter for most altcoins, and slow speed means no applications could be built because the transaction speeds would cause even a small app to take months to run properly.
Payments and microtransactions are the biggest aspects to suffer. That is why better transaction mechanisms are needed, which has led to the development of better systems, of which Bitcoin.ℏ is a part.
What is Bitcoin.ℏ?
The official website describes Bitcoin.ℏ as a greener, quantum-resistant version of the OG crypto, but with the added advantage of having a far lower carbon footprint and offering utility-focused upside.
Unlike the seven-transactions-per-second limit of Bitcoin, which ends up creating massive bottlenecks when demand is high, Bitcoin.ℏ is capable of processing upwards of 10,000 transactions per second.
This is achieved by leveraging the perks of Hedera Hashgrap okh, which bestows Bitcoin.ℏ with quantum resistance thanks to its unique encryption model: SHA-384.
The project has a total supply equivalent to the apex crypto, and the ethos it has been built on is the same: the community will have all the power. But now, the ecosystem will be more scalable, and faster transactions will ensure that Bitcoin.ℏ can be used seamlessly to enable cost-effective micropayments and unlock innovative use cases.
Why Does 1000 TPS Matters?
With over 10,000 TPS achievable, Bitcoin.ℏ becomes receptive to a host of new use cases that can emerge from its ecosystem. With high throughput, Bitcoin.ℏ can experience mass adoption without worrying about congestion, facilitate real-time payments with instant confirmation, and enable micropayments easily.
And since transactions do not carry much cost, the entire ecosystem becomes more communicative. This technology has been made possible thanks to Hedera Hashgraph’s infrastructure.
Hedera Hashgraph—Enhancing TPS
Hedera Hashgraph has been able to improve the ecosystem thanks to the inclusion of not one, but two unique innovations.
- The first is Gossip About Gossip, where nodes share data with minimal overhead in a rapid fashion.
- The second technology is Virtual Voting, which allows consensus to be reached without the need for actual votes, speeding up the entire process.
Thanks to this structure, Bitcoin.ℏ becomes more secure and fair, and is able to reach finality within seconds while still retaining the core ethics of decentralization.
What does Bitcoin.ℏ achieve with high transaction speed
The perks that Bitcoin.ℏ can gain thanks to high transaction speeds are immense. In a financial setting, this can be leveraged to provide instant payments, stable settlements, and secure cross-border transfers.
Furthermore, transparent and immutable logs with real-time updates will be possible within the supply chain sector. And as already discussed, Bitcoin.ℏ’s transaction speed is highly beneficial when it comes to micropayments and the Internet of Things.
Conclusion
Bitcoin.ℏ is doing everything in its power to provide a more scalable future to the blockchain industry. Its adoption of Hedera Hashgraph has made it a powerful ecosystem, evolving beyond the restrictions of legacy systems. Now, the only thing that remains to be seen is how much the ecosystem evolves, for that may very well decide the fate of the crypto economy.