Why not Visa or Mastercard?
Is there anything about Microraiden that could not be done orders of magnitude better by Visa or Mastercard if either of them were to choose to process payments in cryptocurrencies?
A new micropayments technology called Microraiden has launched on the Ethereum blockchain's main network. Microraiden is one of the strategies to help solve a teensy-weensy problem with Ethereum – quickly processing a large number of transactions. Every time a transaction is made on the Ethereum network, every node of the …
Wasted electricity. Bitcoin now uses more electricity worldwide than Ireland. Imagine if it was widely used as some of its proponents wish...it is about the most un-green thing you can imagine. Obviously Ethereum is tiny by comparison, but it aims to compete with bitcoin.
Until the inevitable raft of exploits, cheats, underhanded manipulations etc crop up and demonstrate that this new virtual currency still has everything to learn about transaction security.
I have no doubt that the coders on this project did everything they could to ensure transaction security, but unless they've working in the online banking business for the past 20 years, I think there's a good chance they haven't thought of everything.
Plus, the miscreants are really very good at finding exploits, so they'll find a few surprises on the way, no doubt there.
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