Hey everyone. I haven’t looked into this yet so thought I’d ask here to see if someone knows. Will instant payment work for transfers between wallets or only for payments to vendors?
transfers between wallets uses the blockchain but the instant payment usese both the blockchain to record transactions sure and the provided systems the same as visa and electronic cash
instant payment system is an idea to pay via the currency using the ETN blockchain tech
I hope they will extend the instant payment to wallets. Right now wallet to wallet trade are extremely slow
This should hopefully improve when the price goes up as we will have more people mining and a faster network.
While the transfers via the wallet app are not instant, transfers are much faster than other coins and coinbase, at least in my experience.
Well there are meme coins like Banano that are instant and feelers. And by instant I mean that a transfer takes literally 1 second to happen. And said coin was born like 3 months ago.
I am sure that the tech behind etn is much more complicated and safer but I still don’t understand why a transfer on etn blockchain takes more than 20 minutes
@Doctor @Danny @CDJM93
guys if you mean or wondering why the transactions are slow yes this is because youre right the transactions arent going directly to the wallets like bitcoin transactions which are fast in a glance to transfer any amount
this is simply because the memepool or memory pool
the transactions go there for a while to be queued to the blockchain
i totally agree with you that they should find a solution cause the speed of network is an important thing in any crypto project.