Super power crypto abilities to e-commerce websites
The only thing constant about Bitcoin is its name. Everything else undergoes constant evolution in order to constitute for real world usage. Companies which serves the Bitcoin network must also update their systems accordingly. Blockonomics’ has always been on the forefront in terms of being synced with Bitcoin — both technically and philosophically and was one of the first companies to adopt the Bech32.
A lot is changing in the crypto-technologies and these changes are infact mandatory for allowing a crypto-currencies to become de-facto. The next wave of upgrades, improvements and additions to our products and services are no less revolutionary. Once implemented, Blockonomics will be the go-to place for all the crypto-currency users to monitor, manage and accept crypto-currencies.
Roadmap — Reimagining e-Commerce & Bitcoins
These changes are huge in their ambitions and require substantial resources and therefore Blockonomics has chosen to do an I.C.O starting 1st of July’18. This I.C.O will allow the product to become crypto-comprehensive and cater to the demands of the market thereby accelerating the adoption and making usage easy. The following are the few things which are planned to be addressed:
1. Enabling Alt-coins
A lot has changed in the world of crypto-currencies since 2009. Although Bitcoin is the mothership, certain aspects of its design like block size and transaction speeds had left users wanting for more. This caused the creation and rise of alt-coins. They aimed to address the issues of the core-Bitcoin system saw an increase in market capitalization from 20% at the beginning of 2017 to 60% today. Although we support Bitcoin payments for more than 2000 merchants at the moment, to support this change in dynamics of market, Blockonomics plans to provide native integration for Litecoin, Ethereum and Bitcoin cash. Users will also be able to track all coins from the same dashboard!
2. Integrating Lightning Network
The boom of Dec’17 had highlighted the fact that perhaps the Bitcoin network is not yet ready for mass usage and this therefore has accelerated the need for a solution which came in the form of LIGHTNING. Once enabled, lightning network will allow for transactions to be almost instantaneous and free. Bitcoin is the most secure way to store value and will also become the fastest soon, thereby providing a major push to adoption generally and also in e-commerce industry. Although still at a nascent stage, this has started already where people are setting up lightning nodes and business are also using it for to accept payments!
3. Mempool Estimation Features:
Estimating transaction speed and fees is a challenging feat due to volatility in supply and demand. Although Blockonomics’ current predictions are fairly good, there is scope for improvements in the Blockexplorer. Using funds from this I.C.O, improvements in the accuracy of estimates will be made, enabling users to decide the lowest fee suitable to their transaction time requirements. There by helping the community on a whole to save a significant amount on fees and also stay relaxed about their transactions by knowing exactly how long they will take to get confirmed.
4. Adding e-commerce Platforms:
Blockonomics at the moment support payments for more than 2000 merchants across a number of platforms like WordPress, Prestashop, Magento and WHMCS. Although merchants using other upcoming e-commerce platforms like Shopify, Wix, OpenCart, ZenCart etc., can integrate our solution using our API and payment buttons, creating a plugin which can be installed with a few clicks increasing ease of use immensely is a priority.
5. Zero confirmation payments
We will enable Accept zero confirmation payments using our special API that detects possible double spends with high accuracy. Zero confirmations is not a trivial problem to solve. It requires to analyze network propagation, fee & risk. Which is why we are doing the ICO so that we can raise funds to build a robust system.
If you find our vision to be interesting and would like to participate in our ICO, you can do so by visiting our website Ico.blockonomics.co
This article is originally written and posted on https://blog.blockonomics.co/blockonomics-future-roadmap-62d607a639ee?source=rss----a914923bef70---4. Visit https://blog.blockonomics.co/?source=rss----a914923bef70---4 today for all Crypto News and Information.