What i think of the Tolar network

in #tps6 years ago

Tolar showing what its prototype can do

A very written piece by SooHan (Hans) Ryou @soohan124 about Tolar. And what the folks over at Tolar has to say

The transaction process


There are four parties to each transaction in addition to Mastercard/VISA — a cardholder, a merchant, an issuer and an acquirer.
Step 1: The customer pays with Mastercard/VISA The customer purchases goods/services from a merchant.
Step 2: The payment is authenticated The merchant point-of-sale system captures the customer’s account information and securely sends it to the acquirer.
Step 3: The transaction is submitted The merchant acquirer asks Mastercard/VISA to get an authorization from the customer’s issuing bank.
Step 4: Authorization is requested Mastercard/VISA submits the transaction to the issuer for authorization.
Step 5: Authorization response The issuing bank authorizes the transaction and routes the response back to the merchant.
Step 6: Merchant payment The issuing bank routes the payment to the merchant’s acquirer, who deposits the payment into the merchant’s account.

We all know what Mastercard/VISA TPS is so i wont repeat that here.
Above is the standard operation for 150 currency with 210 countries and territories.
I assume tolar hard coded the seeds nodes with just one currency and 12 different locations. To get those results which is very good when compare against other crypto. I feel the tps will drop when more nodes are added which have not been hard coded. As it will take time for all nodes to get the data before the network could move on as the chain cannot have different values at any given time. It like dropping a stone into the pool and watching the ripple effect. As the network grows the tps will degrade. The real question is will the merchants and payment gateways adopt this tech. What will tolar provide to out do xrp. besides being fast, and will tolar require banks and merchants or end user to burn tolar for usage. A small bet is in order

Sort:  

Congratulations @m33lucky! You have received a personal award!

1 Year on Steemit
Click on the badge to view your Board of Honor.

Do not miss the last post from @steemitboard:
SteemitBoard and the Veterans on Steemit - The First Community Badge.

Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

Congratulations @m33lucky! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @m33lucky! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Coin Marketplace

STEEM 0.18
TRX 0.13
JST 0.028
BTC 57367.79
ETH 3098.11
USDT 1.00
SBD 2.32