How does the FTM 2017 upgrade improve the scalability and speed of cryptocurrency transactions?

3 answers

• Riki ArdiyansahSep 11, 2023 · 2 years ago
  The FTM 2017 upgrade improves the scalability and speed of cryptocurrency transactions by implementing a new consensus mechanism called Proof-of-Stake. This mechanism allows for faster transaction confirmations and higher throughput compared to the previous Proof-of-Work system. Additionally, the upgrade introduces sharding, which partitions the blockchain into smaller pieces called shards. This enables parallel processing of transactions, further enhancing scalability and speed. Overall, the FTM 2017 upgrade addresses the limitations of the previous system and provides a more efficient and scalable solution for cryptocurrency transactions.
  648

  324
• Anita CallawayFeb 09, 2022 · 3 years ago
  With the FTM 2017 upgrade, cryptocurrency transactions become more scalable and faster due to the introduction of a new consensus algorithm called Proof-of-Stake. This algorithm eliminates the need for miners to solve complex mathematical puzzles, reducing the time and energy required for transaction validation. As a result, transaction confirmations are faster, and the network can handle a higher volume of transactions. Additionally, the upgrade implements sharding, which divides the blockchain into smaller parts, allowing for parallel processing and further improving scalability and speed. Overall, the FTM 2017 upgrade significantly enhances the efficiency of cryptocurrency transactions.
  698

  233
• Sonali SinghMar 10, 2022 · 3 years ago
  The FTM 2017 upgrade revolutionizes the scalability and speed of cryptocurrency transactions. By adopting the Proof-of-Stake consensus mechanism, the upgrade eliminates the energy-intensive mining process and replaces it with a more efficient and environmentally friendly approach. This results in faster transaction confirmations and increased scalability. Moreover, the introduction of sharding enables the network to process multiple transactions simultaneously, further enhancing speed and scalability. The FTM 2017 upgrade sets a new standard for cryptocurrency transaction efficiency and paves the way for future advancements in the industry.
  648

  162