Description
Submit a 4 page paper (APA style) describing the issue of Blockchain transaction speed: how can speed be increased and how will loyalty programs becomes more innovative?
Readings:
- Can Blockchain Tech Change AdTech? https://www.martechadvisor.com/articles/ads/can-blockchain-tech-change-adtech/
- Blockchain Scalability: When, Where, How? https://blockgeeks.com/guides/blockchain-scalability/
- Blockchain Will Transform Customer Loyalty Programs https://hbr.org/2017/03/blockchain-will-transform-customer-loyalty-programs
Explanation & Answer
Attached. Please let me know if you have any questions or need revisions.
Running Head: GLOBAL MARKETING AND BLOCKCHAIN
Global Marketing and Blockchain
Student’s Name
Institutional Affiliation
1
GLOBAL MARKETING AND BLOCKCHAIN
Global Marketing and Blockchain
Transaction speed is the rate at which transfer data happens from one account to the
other. Therefore, if the transaction is confirmed quickly, the speed is considered to be high
within a particular period. It is essential to highlight that the viability of a blockchain is measured
based on the transaction speed. In that case, if the speed of transaction is too high on the
blockchain, the processing speed of these transactions will be significantly reduced. The
transaction speed of Bitcoin is moderate on account of both the number of exchanges occurring
and by design. With each new square coming like clockwork, the base measure of time a
transaction can take is 10 minutes.
The transaction speed of a blockchain can be upgraded if the block size is expanded and
the square time is diminished. Block size alludes to the fixed size of each square on a blockchain,
and this boundary cannot be changed. Block time indicates the period taken by the organization
to add another square to the blockchain. The meaning of node may shift fundamentally as per the
setting it is utilized (Kizildag et al. 2019). With regards to computer or media transmission
organizations, hubs may offer particular purposes, acting either as a reallocation point or as a
communication endpoint. Generally, a hub comprises of an actual organization gadget. However,
there are some particular situations where virtual hubs are utilized. A...
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