Case overview
Coin transfers, also known as cryptocurrency transactions, are the most basic and widely used function of blockchain technology. These transactions involve the transfer of a certain amount of cryptocurrency from one address to another on the blockchain network.
According to blockchain data analytics firm Glassnode, coin transfers make up the majority of on-chain transactions. In fact, in 2021, coin transfers made up over 90% of all on-chain transactions on the Bitcoin network, and over 70% of all on-chain transactions on the Ethereum network. This highlights the importance of coin transfers in the world of cryptocurrencies and blockchain technology.
Processing multiple coin transfers simultaneously can indeed dramatically improve the user experience of using blockchain technology. It will greatly reduce the time it takes for users to complete transactions and make the network more efficient.
The Brief
The two most popular cryptocurrencies, Bitcoin and Ethereum, rely heavily on coin transfers for their day-to-day use. The use cases for crypto coin transfers are many and varied. Some of the most common uses include:
- Peer-to-peer transactions
- Cross-border payments
- Remittances
- Online purchases
- Investment
A blockchain network can process multiple coin transfers at the same time, it means that users can complete their transactions more quickly and with less waiting time. This can be particularly important in high-traffic networks.
Our Approach
The intelligent scheduler module in Arcology is a key feature that allows for automatic and efficient scheduling transactions on the blockchain network. This module is designed to analyze the parties involved in a simple coin transfer and execute non-overlapping transactions in parallel, without any human intervention.
One of the main benefits of the intelligent scheduler is that it eliminates the need for users or developers to manually schedule transactions for parallel execution.
The Results
The intelligent scheduler module in Arcology is a powerful tool for automating and optimizing coin transfers on Arcology network, allowing for faster, more efficient, and more reliable transactions without any human intervention.
Arcology doesn’t require you to provide an account access list for potential parallel execution, like some blockchains do. Instead, the system will take care of everything for you.
