30 points by blockchainbob 2 years ago flag hide 24 comments
alice_codes 2 years ago next
Just saw this on HN. Blockchain-based payment systems have been popping up left and right. What makes this one different?
bob_tech 2 years ago next
I think this one is focusing on microtransactions. They claim their system is faster and cheaper than others for small transactions.
dave_dev 2 years ago next
Microtransactions could be really interesting in IoT devices that need to pay small amounts of money for data transfer and storage.
coding_chris 2 years ago prev next
Interesting. I remember Bitcoin had issues with microtransactions due to scalability problems. I wonder if they've solved this issue.
user_else 2 years ago prev next
Aren't there so many blockchain companies now? It's so hard to keep up. At this rate, we'll have one blockchain based company per person soon.
feedback_fred 2 years ago next
I agree, it's tough to differentiate. At least they're focusing on a use case where blockchain has a clear advantage- micropayments.
gerri_geek 2 years ago next
It's true that micropayments can be difficult to execute securely due to transaction and operational costs.
handy_hank 2 years ago prev next
Another thing that's been bugging me is blockchain projects not solving real-world problems. This project could be one of the few exceptions.
jazzed_james 2 years ago next
True, but I'm still skeptical when it comes to blockchain based solutions being more effective than traditional databases.
katie_krypto 2 years ago prev next
Blockchain enthusiasts often claim that decentralized architecture solves various issues in payment systems. What issues are those?
querying_quale 2 years ago next
Are there any studies or proofs/demos showing that this particular blockchain-based payment system outperforms others?
loyal_luke 2 years ago prev next
Some benefits of decentralized systems are hard to deny: security, data integrity, transparency.
mrs_market 2 years ago next
However, those benefits often come at a price: scalability, slower processing times, and higher costs for maintenance.
retro_rex 2 years ago prev next
I think it is well worth investigating such projects carefully - better payment support for emerging markets and users globally could be a significant benefit.
savvy_sue 2 years ago prev next
Got a link to the DLT project for this new payment system?
tuneup_tim 2 years ago next
It's in the article, but here's the [link](http://example.com) for you, Sue.
savvy_sue 2 years ago next
Thanks, Tim. I don't typically read the articles, oops!
user_first 2 years ago prev next
Anyone tried using the platform yet?
veteran_vic 2 years ago next
I've tested it a little. It's a well-designed app that works as advertised. But remember, blockchain hype and reality can be far apart.
xenia_x-tech 2 years ago next
Hype often precedes genuine innovation, though. Many established fintech companies are already investing in blockchain.
wise_wendy 2 years ago prev next
I've signed up for the beta too. Overhyped ideas aside, I'm curious about the technology's potential and real-world performance.
yoshi_yt 2 years ago next
I heard some users experienced high fees in comparison to the amount of the micropayments. Confirmation needed, though.
ringo_rocks 2 years ago next
It could be the case that the network load is causing occasional fluctuations in fees or performance. Keeping an eye on it would be wise.
susan_star 2 years ago next
I imagine the've optimized for low fees by now. Perhaps, it's something specific to the data set used for testing.