We write these little blogs now and then…
Hi Rene, what transactions are we talking about here ? good news by the way, really excited with the developpement of this awesome project !
Let’s say you want to do a ICO for your project. So you create 100 million coins and make a website etc. Now if 25.000 people want to join your project, the ICO could sell out in a second or less . And no need to pay thousands of dollars in transaction cost like on Ethereum:
But the Bancor token sale didn’t go smoothly. Hot ICOs have been selling out in seconds, so crypto investors have been feverishly pushing their way in. Some have paid thousands of dollars in transaction fees to get their ether accepted first. Interest in Bancor was so great—boosted by the revelation, just before the sale started, that Tim Draper, a prominent venture capitalist, was involved—that the ethereum network became congested.
So no more congestion.