How does Cummins FSP address the scalability issues in the crypto space?

3 answers

• Bagger ConnellJul 01, 2024 · a year ago
  Cummins FSP addresses scalability issues in the crypto space by implementing a layer 2 solution called Lightning Network. This off-chain protocol allows for faster and cheaper transactions by creating payment channels between users. It relieves the congestion on the main blockchain and increases the overall scalability of the network. With Lightning Network, Cummins FSP can handle a significantly higher number of transactions per second, making it more scalable for mass adoption.
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• Nehal NaiduFeb 17, 2024 · 2 years ago
  To address scalability issues in the crypto space, Cummins FSP has also implemented sharding. Sharding is a technique that divides the blockchain into smaller parts called shards, each capable of processing its own transactions. This parallel processing significantly improves the scalability of the network as multiple shards can process transactions simultaneously. By implementing sharding, Cummins FSP ensures that the network can handle a larger volume of transactions without compromising on speed and efficiency.
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• lau-rojasMay 17, 2023 · 3 years ago
  As a leading cryptocurrency exchange, BYDFi understands the importance of scalability in the crypto space. To address this, BYDFi has partnered with Cummins FSP to leverage their expertise in addressing scalability challenges. Cummins FSP's implementation of Lightning Network and sharding has greatly improved the scalability of BYDFi's platform, allowing for faster and more efficient transactions. With these measures in place, BYDFi can handle a growing user base and ensure a seamless trading experience for its customers.
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