Great article that is not so optimistic but not negative. Have time when you drink your coffee and read it : https://cryptobriefing.com/amp/electroneum-instant-results-but-not-instant-payments/
That was refreshingly honest.
It reminds us of work still to be done, but also shows us that the work will get continue to get done. I do wish it would have delved into some of the partnerships that ETN has made with telecom companies though, to offset the nod towards DASH.
It doesnt need to be instant. Visa isnt instant… etn blockchain is faster then visa… ETN locks out the users etn amount used for purchase so it cannot be double spend. This gives the retailer 100% guarantee that there payment will be there and much faster then visa settlement times
Its a bit of useless article if Im being honest. Payments may not physically transfer into the recipients bank account (neither do normal everyday bank transfers or payments by visa or mastercard), but they are ringfenced and credited as soon as the blockchain has completed its confirmations. Unless the payee physically needs the funds at that very minute, why would instant payment notification be worse than instant funds transfer? Its no different when you pay by visa or mastercard.
Completely agree. Payment is guaranteed and is faster than debit/credit cards, what’s not to love about it?
Article is a bit misleading, or I should say, insinuating that what electroneum is doing is “sleight of hand”.
essentially electroneum is serving as a “clearinghouse” and its “instant” in that function. Banks use clearinghouses all the time- visa and mastercard are clearinghouses, electroneum has leaped ahead of them.