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Crypto Chief
@cryptochief
Transaction speed is so important for blockchain networks for several reasons. Users tend to use a platform that offers fast transactions, especially when operating on activities like payments or trading. For these kinds of activities, delays can be frustrating. Also, fast transactions improve security as there is barely enough time for an attack to occur, making sure a transaction is successfully completed without fear or watching one's back from threat actors.
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Crypto Chief
@cryptochief
How does @swisstronik- set up this unbelievable speed it uses? Swisstronik, a blockchain platform designed for privacy and regulatory compliance, employs Cosmos SDK and Tendermint to achieve this high transaction speed. You can DYOR about these two awesome tools and how combining them works. #Layer1 #Swisstronik #CosmosSDK #blockchain #Web3 #DeFi #TradFi
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Crypto Chief
@cryptochief
Comparing transaction costs between Swisstronik and the giant blockchain that's been around for a while, Ethereum. Generally, it should be observed that Swisstronik offers its users a Barry Allen kind of transaction speed; therefore, its cost should be extra high or at least higher than Ethereums. But that's not the case. Swisstronik offers a lower transaction cost due to its effective consensus mechanism, reduced network congestion, and the ability to customize fee structures. Can we say the same for Ethereum? I guess we can't. The clogginess from high Ethereum network activity is usually a catalyst for a spike in transaction costs.
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