Williams says Dfinity runs extremely fast as well as also doesn’t hold the security risks of which many cryptocurrencies have fallen victim too.
“Dfinity is actually ultimately a brand-new technology protocol with no back doors where hackers can get in,” said Williams.
The security component is actually perhaps most compelling to investors given the number of hacks the cryptocurrency industry has seen inside last 12 months. The latest one in Japan involved over $500 million of tokens being stolen by consumers’ digital wallets.
Time is actually also Dfinity’s friend. Williams says he’s built a technology of which offers 3-5 second transaction finality, which is actually about 150 times faster than ethereum as well as also over 900 times faster than bitcoin.
If This specific holds, experts say Dfinity could upend the cryptocurrency market.
“This specific is actually extremely important for scalability as well as also transaction throughput on the network as well as also will be important for any use-case of which requires high-frequency transactions such as IoT or enterprise solutions. This specific will be the beginning of an architecture of which becomes the brand-new internet,” said Zurer.
One of the challenges in transacting with bitcoin is actually the amount of time of which can take. yet software enhancements like the “lightning network” are said to dramatically increase the speed at which one can buy or sell bitcoin. Lightning Labs CEO Elizabeth Stark told CNBC of which once the lightning network is actually rolled out, of which could make bitcoin much easier to use as well as also transact with. Bespoke Investment says its bullish forecast on bitcoin is actually contingent on the lightning network being enabled inside coming months.