SAFEX Cash & Proof of Work Scalability

#1

How does SAFEX Cash’s blockchain plan to solve the issue of scalability inherent with the Proof of Work model?

Why won’t SAFEX Cash face the same slow block times BTC is seeing now?

Is decentralized mining really the future? How come Ethereum is switching to partly Proof of Stake?

1 Like
#2

What issue?

Yeah

#3

Proof of Work vs Proof of Stake. POW is very costly in terms of energy, and isn’t scalable or sustainable.

Why do you think people always complain about costly & slow BTC transactions.

2 Likes
#4

Go on our Discord

#5

Such discussion is better suited on the forum, so people can search for it if they have the same question.

I have concluded that we won’t have an answer to this question until the white paper is out.

3 Likes
#6

This is avery valid concern and I hope it’s being addressed in the whitepaper. Traditional blockchains have a limited space in each block which means there is a max number of transactions that can be processed. like 5-7 for bitcoin or 15-20 for ethereum. When the blocks get full transaction fee go up as a way to prioritise transactions to be settled. It would be great if Safex Cash would offer an innovative solution to blockchain scaling so that the system would not suffer from scaling issues by design.
@dandabek would you give us some insight on the direction you are going?

3 Likes