Coinspermia - A Great Solution for Cryptocurrency Scalability Issues

Even though bitcoin, and the blockchain technology in general, is by far the greatest financial innovation created during the past 200 years, its scalability is threatening popularization of decentralized currencies. The past few years have witnessed the emergence of many solutions to the scalability of bitcoin. Solutions included the use of off-chain payment channels, increasing the block size and others. A group of researchers have recently proposed a new cryptocurrency, which they named Coinspermia, that utilizes a rather novel approach as transactions are seeded across the network in a simultaneous manner. The proposed approach can facilitate confirmation of transactions at speeds that are much higher than those offered by bitcoin's blockchain.

I wrote an overview about Coinspermia on Deepdotweb.com because I really admired the new approach and believed that it can aid in popularization of cryptocurrencies on a global scale. Coinspermia promotes secure transactions, high speed of confirmation of transactions and prevention of variosu forms of double spending attacks. Despite the different approach, Coinspermia retains some of bitcoin's characteristics including usage of cryptographic addresses and transactions' input/outputs, but no proof-of-work (PoW) mechanism is required to confirm transactions. Transactions are confirmed when a significant percentage of the network's nodes validate them, which takes place only when transactions' info propagates successfully throughout the network.