With the emergence of new technologies, many individuals are gearing towards cash-free systems for the sake of convenience and ease. This means that privacy, speed, and security have become the base on which money is rooted.
The BRAVO Hybrid Consensus Protocol offers a Hybrid Blockchain solution which fulfils all three of these fundamental requirements without compromising on its key focus: to offer an easy, cash-free payments protocol for P2P payments and enterprises to facilitate everyday payments.
In order to fully appreciate the features that BRAVO offers, one can look at other similar cryptocurrency projects to see how the blockchains match up.
A detailed comparison can be found in BRAVO’s whitepaper of the differences between BRAVO’s Blockchain application platform interface (API) and that of Ripple, ZCash, and Dash. These tokens, like BRAVO, are also highly focused on privacy and strive to offer quick transactions times.
Several fundamental features are explored in order to show how the BRAVO Protocol performs next to the three cryptocurrency companies.
Ease of use and consumer app:
BRAVO’s first DApp (BRAVO Pay) introduces a user friendly experience that for the first time will allow users to have a similar experience as in our current Fiat version where you find the user either by proximity or via a username or a private 4 digit code (no long keys or long wallet addresses needed). It is a simple experience that will allow adoption at the mainstream level of cryptocurrency (no longer for the tech-savvy people). BRAVO pay app supports instant and private transactions. We eliminated the use of long keys to permit for a simple experience in the front-end thanks to our hybrid blockchain technology. The experience of paying with BVO is instant and allows privacy on demand. The only other company offering a mobile app payment tool for instant payments is Dash, but there are several important differences with BRAVO. With the Dash app, you can have an “instant send” which is supported by the Masternodes to confirm the transactions preventing the “double spent” problem, but their phone wallets cannot support private send.
With regard to the blockchain protocol, both Zcash and Dash are Proof-of-Work (POW) protocols, while XRP uses the Federated Byzantine Agreement (FBA) consensus protocol, such as BRAVO except that BRAVO is a Hybrid Blockchain that not only uses FBA but also an anonymizing Proof-of-Stake protocol.
Transactions per second (TPS):
Both Zcash and Dash complete between 23–26 successful transactions per second on their public blockchain, while Zcash completes 6 transactions per second using its private blockchain. Ripple and BRAVO complete between 1500–1800 successful transactions per second, but unlike XRP, BRAVO has a private blockchain that completes nearly 30x the transactions per second than that of Zcash. BRAVO’s FBA block time is a short 3.5 seconds and PoS block time is 1 minute. This, compared to Bitcoin’s 10-minute block time, makes for exceptionally speedy transactions. BRAVO’s confirmation time is even more impressive. XRP user’s face 3.5 seconds before transactions are confirmed, Dash transactions are confirmed within 15 minutes and BRAVO’s FBA transactions take a further 3.5 seconds to be confirmed. That’s a maximum of 7 seconds for a full transaction to take place on the FBA blockchain.
Privacy and Compliance with KYC/AML:
BRAVO has created a solution that allows users to utilize an option for an anonymous payment, but also the option for a lower fee public payment is they choose. Make no mistake, this process is for the those who prefer to keep their personal details undisclosed day-to-day public transactions. BRAVO creates high priority in vetting their users and places a great sense of priority in remaining KYC/AML complaint at all times. Dash, Zcash and XRP do not use KYC/AML for onboarding users who use their payments mechanism although Dash offers independent businesses to use the AML/KYC features if they choose.
XRP is a strong competitor to BRAVO as it provides a scalable solution, unlike Dash and Zcash. However, after much analysis it is clear that BRAVO dominates as a solution for peer-to-peer, business-to-business and peer-to-business solution and targets more verticals and markets beyond that of just general payments such as settling bets, tipping, live and instant payments to streamers.
BRAVO is the first Hybrid Blockchain of its kind and the only between the four analyzed coins. It is also the only blockchain of the four that will be offering an API for developers to use the Protocol to build applications of the future that require low fees, fast transactions and on-demand anonymity in the transfer of value.
The BRAVO Pay app has a successful proof of concept which will also become their first blockchain integrated app deployed on the BRAVO Hybrid Blockchain early next year. This will be sure to migrate all tens of thousands of users to the new app which will have fully enabled crypto payments solutions with the option of a fiat payments too. As a business that is focused on bringing crypto to the mass market, this is a recipe for success after having already captured a piece of the market and to soon introduce a solution of further enhanced features to entice them into the world of blockchain.
In general, BRAVO’s blockchain is a unique blend of fast scalable technology with privacy and regulatory compliance. Many coins will fall victim to regulatory backlash due to a lack of compliance, but BRAVO Pay has found the balance between enhanced game-changing features and full compliance throughout all of their business to ensure they reach the goal of bringing crypto payments to the masses.
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