Via S.S. Trinità, 3 Chiari (BS)

Massive, Cost-Effective Cryptocurrency Transactions

Ethereum is metered on 2020 to about 12 transactions per second, while bitcoin has an average of 7 transactions per second.
Otichain aims to solve the problem of scalability and energy efficiency that the two main blockchains currently suffer from.
The consensus mechanisms, the protocol adopted and the sustainable impact aim to exceed 20,000 transactions per second and the energy consumption of each node to be just a few watts.

Otichain – Blockchain network

Bitcoin is a cryptocurrency and a worldwide payment system created in 2009 by an anonymous inventor known by the pseudonym Satoshi Nakamoto, who developed
an idea he himself presented on the Internet in late 2008.
It uses a database distributed among network nodes that keep track of transactions (blockchain) and exploits cryptography to manage functional aspects, such as the generation of new money and the attribution of ownership of bitcoins.

The Bitcoin network enables the pseudo-anonymous possession and transfer of coins; the data needed to use one’s bitcoins can be stored on one or more personal computers or electronic devices such as smartphones, in the form of a digital wallet, or kept with third parties that perform bank-like functions.

The bitcoin wallet has an address identified by an alphanumeric code that has between 25 and 36 characters between numbers and letters; it is the only data to be communicated to receive a payment that will enjoy a certain degree of anonymity, but will at the same time be publicly and immutably visible on the blockchain forever.

In any case, bitcoins can be transferred through the Internet to anyone with a bitcoin address. The peer- to-peer structure of the Bitcoin network and the lack of a central
entity makes it impossible for any authority, governmental or otherwise, to block transfers, seize bitcoins without possession of their keys, or devalue them due to the introduction of new currency.

Similarly, Ethereum has enabled the creation of decentralized applications and their use in the blockchain, giving developers access to an open platform for the development of applications, smart contracts and much more.

From the Ethereum white paper:
“What Ethereum intends to provide is a blockchain with a built-in fully fledged Turing-complete programming language that can be used to create “contracts” that can be used to encode arbitrary state transition functions, allowing users to create any of the systems described above, as well as many others that we have not yet imagined, simply by writing up the logic in a few lines of code.”

With this vision, Ethereum has been the driving force in many aspects of blockchain development and the cryptocurrency industry. It offers the potential for a world where most systems could take advantage of blockchain technology and the functionality that comes with it.

Whether it is the tokenization of assets or the ability to manage ICO fundraisers, it has enabled users to create a new Internet, the likes of which we could barely have imagined a few years ago.