I don't know why this simple concept is so difficult

Question

I don't know why this simple concept is so difficult

for people to understand. The SWIFT system cannot function without extra text/number field. How can people be so stupid that any professional players will take seriously a coin with only send and destination address as identifier? Why you think XRP/XLM is the most preferred candidate for SWIFT replacement right now? It's just like Nano, but they have a fucking number field. Nano dev' are too arrogant to implement, they're always afraid of anything that could introduce more spam

#cryptocurrency #english #nano

0

02.04.2022

5 ответов

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Chan

XNO never aimed to replace the SWIFT network. I am sure a memo function could be integrated on layer 2 just fine but indeed I doubt it would occur. I do not know what will happen regarding this. We'll just have to see. Both XLM and XRP are still merely ahead in hype and marketcap, but not adoption. They aren't replacing the infrastructure of any major global banks yet. They are just first movers, and I am sure they have their own technical advantages but I would argue they are nowhere near XNO interms of tps. I asked about how tps could scale on XNO and theoretically speaking we are less than a tenth of how fast we could be processing our transactions right now. A thousand tps and much more is already attainable just with the small amount of adoption and node hosting we have so far.

0

03.04.2022

H D

Exactly why i let go 90% of ny Nano stack last year after waiting for 3+ year's. Holding that 10% just in case the NF get their act together in the future, but it's painful to see a brilliant concept not realizing it's potential.

0

03.04.2022

Niels Sampie Автор вопроса

H D
Exactly why i let go 90% of ny Nano stack last yea...

Yeah, they claim not to want to replace the SWIFT system and yet the entire coin is based around one concept: instant digital international transfers. Sounds exactly like instant SEPA bank transfers to me, except decentralized instead of centralized. Memo's have to be layer 1, you need proof of payment on nano block explorer, not just a layer 2 message system, else it will become centralized. This is why business prefer XRP, even though Nano is technically better and more intuitive.

0

03.04.2022

Pierre.ℵ

Niels Sampie
Yeah, they claim not to want to replace the SWIFT ...

“This is why businesses prefer XRP” No they don’t, they haven’t even heard of Nano yet lol

0

03.04.2022

Me · Accepted Answer

Maybe it's just because digital cash... Coins don't come with a tag line and that works fine. The transaction reference you are requiring may need different specifications per use case. Thus layer 2. Just like the economy we use now is the layer above the money itself. Just an idea for thought. It seems silly that it isn't included already... but it would also be silly to assume the smart people who made NANO are not smart 😉

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