- Cryptocurrencies gain in acceptance, but…
- High transaction fees and lengthy processing times delay implementation
- Bit4Sure cuts bitcoin transaction times
Now that some marquee names – Microsoft, Expedia, Overstock – have begun accepting bitcoin, it looks as if cryptocurrencies have entered the mainstream of commerce. Notice from Japanese retailer Rakuten appears to confirm that. The ecommerce giant, which has been called Japan’s Amazon, has announced plans to launch its own “Rakuten Coin” in the near future (http://nnw.fm/PFm8e). Not so fast, however. Ironically, Satoshi Nakamoto’s peer-to-peer payment system, which held out the promise of no intermediaries charging transaction costs, is plagued by high transaction costs. Other frictions also exist, one of which is tardy speed of execution. Nevertheless, getting bitcoin payments up to speed may be just around the corner.
Virtual Crypto Technologies Inc. (OTCQB: VRCP) has launched Bit4Sure, a proprietary cryptocurrency transaction confirmation solution. Virtual Crypto Technologies is a technology company dedicated to making cryptocurrencies accessible to the public…
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