Cryptocurrencies have become the tool to simplify international wire transfers

It’s no secret that cryptocurrencies have become the tool to drastically simplify international wire transfers. However, the associated commission fees and low transfer speed are a hurdle to mass adoption of cryptocurrencies.

For example, Bitcoin can sustainably handle 3–7 transactions per second (TPS), and to confirm these transactions, the Bitcoin network takes about an hour. Besides, Bitcoin holders can increase confirmation speed by paying a premium fee that stimulate miners to prioritize these transactions above all others.

In contrast, Bankcoin Reserve relies on a combination of patented technologies and the Proof-of-Stake consensus algorithm to solve this issue and become a viable and effective alternative to cryptocurrencies.

For instance, for transferring 100,000 BCR worth 155.5 million US dollars, the network fee will be just 4,976 US dollars, and the transaction will be confirmed in mere seconds.

Important note: network fees are calculated based on the network conditions at the time of transaction.

To learn more visit https://bankcoinreserve.io