Having successfully run multiple tests that generated half a million blocks and validated 2.5 million transactions without a single transaction failure, the lightning speed blockchain TechPay is gearing up to launch the TechPay Coin.
TechPay, which claims to be the fastest blockchain built for real-time transactions, is prepared to launch its TechPay Coin onto the market. The blockchain has said that such a coin could be utilised by telecommunication, finance and logistics sectors, and will reportedly be supported by direct acyclic graph (DAG) technology.
DAG is often viewed as one of the main competitors to the mainstream blockchain. Whilst the blockchain is a form of distributed ledger that records transactions in an unalterable and chronological manner by way of block transactions. DAG does a very similar job and acts in a very similar way, albeit in the absence of those familiar blocks.
DAG is more like a network of individual transactions that are linked to a wider network of multiple other transactions. In the blockchain, transactions are validated on a block by block basis, whereas DAG relies on information from former transactions to authenticate current ones; which for all its benefits, generally means that the end-user encounter lower or no fees.
Sumit Sharma, the co-founder of TechPay, explains how the making of the coin is adhering to increased customer demand for speed: “Processing of transactions can become a struggle in times of increased demand. This increases transaction confirmation times and makes fees more expensive.
“TechPay Coin is the answer to all of these problems and more. With the solid initial response that we have received for TechPay, we are confident that the blockchain technology will see wide adoption and become the crypto of choice in the near future.”
Blockchain is the inevitable future. The permission-less architecture provides control back to the people instead of centralised authorities. As the use cases expand, the adoption of blockchain is also multiplying. Decentralised finance remains one of the most intriguing use cases of blockchain followed by Web 3, metaverse and DeFi.
There is however a constant demand for high-performing and efficient blockchain technology in the world today, something that TechPay Coin’s real-time transactions and minimal transaction fees seek to answer.
TechPay Coin is also Ethereum virtual machine (EVM) compatible, which allows it to support smart contracts, NFTs and dApps. This utility will actively add to TechPay’s adoption, with hopes of increasing its demand and market value.
Blockchain is synonymous with security. Its architecture allows it to be practically unbreachable.
TechPay has stated how its coin offers 10-fold more security than competing PoS chains. As an example of this, TechPay Coin ran tests that generated 500,000 blocks and validated 2.5 million transactions without a single transaction failure or reversal.
TechPay has since announced that it is to launch a blockchain-based payment gateway system next year, one that is apparently going to disrupt the crypto space; with the company projecting itself to be ‘the most glaring star in the sky of blockchain innovations’.