Cryptocurrencies like Bitcoin, Ethereum, are all based on blockchain and it is a known fact that blockchain has a huge problem. This problem is related to the number of transactions that can be done using crypto. If you consider the example of Bitcoin’s basic exchange, as many as 7 transactions can be done per second.
When this speed is compared to the traditional banking system that is used and backed by the government, the former seems to be too low. The reason behind this is the fact features like net banking, etc can compute a higher number of transactions per second. Over billions of transactions are handled by the banking system across the entire world and this is not a small number.
Problems due to low transaction speed
Investors and traders in crypto face a lot of issues when it comes to earning with the help of crypto. The major reason behind such issues is the low transaction speed of crypto exchanges. Due to lower speed:
The network traffic increases by a lot. If a person is buying or selling his or her crypto, he will have to wait a lot. People who are new to crypto start to panic. There are plenty of people who initiate transactions in a day and as a result, the network is always full of traffic, causing widespread disruptions.
Now comes the fact that due to this slow speed of processing transactions, validation also takes time. Hence, in many scenarios, a customer hasn’t got his confirmation immediately. Those who validate an unconfirmed transaction might get fooled by hackers who use double-spend attacks. It is therefore a hassle for many investors, ie, they need to wait for the confirmation.
Problems due to low liquidity
Crypto is not considered a liquid asset by many people and this is mostly because they took the services of some loosely built exchange wallet. Crypto is a liquefiable asset with the correct technology involved. Due to the existence of such exchanges that do not allow easy liquidation of crypto, people suffer.
When people order, they need to get their order executed almost instantly. Suppose you invest 2 USD in Bitcoin and after an hour, it is 3 USD. You would want to immediately turn this into cash as you have attained your profit. But due to the lack of speed in certain exchanges, executing orders takes time. Due to this difference in time or slippage, people lose a lot of money.
Is There Any Solution For Such Issues?
Aurix Ecosystems have a solution to all of such problems faced by crypto adopters. No more will people need to wait and lose money.
- Aurix Ecosystem provides liquid crypto trade pairs. So, if you have invested in a trading pair, you can easily liquefy them without losing money due to slippage. The reason behind this is the strong and secure build of the platforms that is as responsive as the device you use it on.
- Transactions on Aurix are not slow. They are extremely fast, ie, they will help each and every person by preventing them from losing money or time. Although blockchain transfers are slow, Aurix has built a layer on top of it that enables it to increase the speed with which each transaction occurs.
- Due to the above two reasons, any person who is tired of losing money due to slippage or late order execution can be at peace. Transactions will be effective immediately, preventing user’s loss.
Innumerable investors in crypto lost huge amounts of money or assets due to late execution of orders or slow processing of transactions. As a result, people started to give up. Thereafter, Aurix has come up with a solution to all of these issues. One can easily use Aurix in order to solve the problems that have existed for so long. With the relative ease of usage and great speeds, Aurix has come up with the best crypto exchange there is so as to facilitate crypto adoption.