Are you looking for a medium that offers the fastest Bitcoin transactions for a gas fee of not more than $1? Even better, this platform ensures that people always maintain absolute ownership of their tokens. This article will enlighten people on how they can get instant cryptocurrency transfers on Bitcoin, Ethereum, etc.
Before going into the process of getting an instant crypto transfer, let’s examine why and how this measure is beneficial. Why do people need the fastest possible Bitcoin transactions?
Importance of Speed When Sending and Receiving Bitcoin
Speed is crucial today, and every form of technology seeks to improve delivery time. Blockchain technology is no different, and various networks are making necessary adjustments that will help them scale. Why is speed important in cryptocurrency transactions?
Speed is essential in the financial sector, for efficiency and security purposes. People average millions of transactions daily banking worldwide. On their part, banks must have very efficient networks to process these requests. Otherwise, there will be continuous backlogs of pending transfers.
Once there are backlogs, the system rarely recovers as long as people keep sending in new requests. The bank must prevent people from sending new transactions to clear pending transfers. Of course, we know this is difficult to achieve. This explains why your bank tells you to wait 1-4 days to process funds sent via traditional networks.
In alternative cases, people may have to pay a higher transaction fee for the system to process their transfer request faster.
Banks and slow networks have to queue transactions for security reasons. Flooding the system with more requests than it can handle may cause it to crash. Hackers typically overload a server to weaken its encryption and authentication mechanism. In turn, this creates weak points that cybercriminals can exploit.
Fastest Bitcoin Transactions: How SoftNote Ensures Speedy Cryptocurrency Transfers
Tectum chose to scale Bitcoin because we believe it is the future of finance, but has a slow processing time. The native BTC network can only allow 3 to 7 transactions per second. This is even worse than most orthodox payment methods.
Tectum processes BTC transactions using SoftNote and our Bitcoin sidechain to ensure more efficient transactions. SoftNote processes the transfer, before relaying it to the main network through the sidechain. For a better understanding, let’s use the example of driving on the highway.
There is traffic on the highway and you are stuck. You can either wait till the traffic clears or pay for an airlift for a helicopter to take you out of there for a higher fee. Unlike these two options, Tectum SoftNote offers you a third and better choice – to drive through a designated route.
This route is separate from the highway, with multiple lanes to contain every car without traffic congestion. The best part is, you do not pay more than $1 in fees for using this route. Furthermore, you drive your vehicle through the route yourself and do not have to hand the keys to some valet or anyone else.
More so, this special route supports the passage of various car brands and is expanding the types of vehicles that can pass.
People begin to appreciate products like Tectum SoftNote when they examine the importance of speed in financial transactions. Meanwhile, scaling Bitcoin proves that SoftNote can improve any data transfer medium. Our TPS speed test proves that this product, built on the fastest layer-1 blockchain, can work with various payment methods.
Join the SoftNote Wallet App Waitlist to Enjoy the Fastest Bitcoin Transactions on Mobile Devices
Tectum SoftNote Wallet offers the fastest Bitcoin transactions, enabling people to access cheap and instant transactions. In this regard, everyone tired of paying ridiculous amounts in gas fees should consider opening a SoftNote account today. The process takes less than 5 minutes and is seamless.
SoftNote supports cheap transactions on Bitcoin and Ethereum, which typically have high fees. We are currently exploring integrating the Solana blockchain into our network. This will enable us to add cryptocurrencies held on Solana to SoftNote Bills.
Another reason to join the SoftNote train is that our mobile app beta version is set to go live in September. Therefore, Android and iOS users will be able to carry the best crypto wallet on their mobile phones. Interested persons can join the waitlist and become one of the first people to test this application.