Dolla Tech Update — 1st of March, 2020

Hello, Dolla community!

Today, I’m happy to be bringing to you the first out of many more tech updates to come — updates that will serve to shed light on the progress with respect to our project.

We will start off by giving you a clear look as to why one would choose Dolla over other similar cryptocurrencies.

Now, if you are living in our day and age, chances are that you need to make sure, in one way or another, that you supply yourself and your family with food. In other words, unless you happen to be a full time hunter or gatherer, you will be forced to do groceries. And you will be forced to do said groceries quite frequently.

On top of that, you will most likely be shopping for other types of miscellaneous items — such as clothes, devices, and so on.

The common thread among all of these things is that a transaction has to be made in order to complete the purchase of these items.

Now, it’s very likely that you already know how to use a credit card — a Visa, Mastercard or any other variant of the like. And you know that when you swipe that card, it usually takes a couple of seconds for that „beep“ to occur — to signify that your transaction was completed successfully.

However, say that you did *not* want to use normal cash or a normal credit card to make your purchase. Say that you happen to have some savings of Bitcoin. You think to yourself — hey, why don’t I just pay for my groceries using some of that cryptocurrency I got?

So you decide to try out using Bitcoin to pay for your groceries. You do that, but then you realize that you will have to wait roughly 60 minutes in order for your transaction to be completed, due to the way Bitcoin’s algorithm works (through what is known as „Proof of Work“, or „mining“).

We say, in this case, that Bitcoin exhibits „high latency“ — meaning that it takes very long for its transactions to come through.

If the fact that you have to wait for an entire hour at the supermarket for you to be allowed to leave isn’t enough, there is also the issue that Bitcoin also displays „low throughput“. This means that only a very low amount of transactions will be handled at a time (just about 7 transactions per second).

To give you an idea on how limiting that is, consider the fact that Visa is able to process thousands of transactions per second, in comparison. Paypal, on the other hand, a couple of hundred.

And this is not something that only Bitcoin is struggling with — there are many more examples of derivatives of Bitcoin, or other similar cryptocurrencies that also display these kinds of limitations. And *these* reasons, among many others, are exactly why most traders out there are still skeptical when it comes to adopting cryptocurrencies, instead of classical fiat currency.

This is where Dolla comes in. With an expected display of latency lower than 5 seconds and a high throughput of approximately 10,000 transactions per second, Dolla will be able to solve all the problems that most cryptocurrencies in our modern day are facing, and will be able to bring the world one step closer to be willing to choose the power, speed, safety and efficiency of future cryptocurrencies.

Let us all come together to make this dream a reality!

If you haven’t already, join us and help promote our cause.

Join the Dolla community today!