IOTA Unveils Flash Network, Allowing for true Nanopayments

The concept of Nanopayments has been around for a while but as yet there has been no technology available to actually implement in a real world situation at scaleable cost. This is where Iota with it’s zero transaction fees brings new potential to  “nano-payment” networks and is opening the doors to thousands of new fractional payment models.

IOTA Unveils Flash Network

The Flash Network is a protocol layer that functions in parallel with the Tangle and is designed specifically to facilitate the volume of transactions IOTA’s network is designed to handle.

What allows the Tangle to circumvent the scaling and transaction fee challenges faced by traditional blockchain is the use of a direct acyclic graph to process transactions added to the network.

The Flash Network is a support system to allow for instantaneous validation of nano-payments at high-volume, such as paying for each second of charging an electric car, until the maturity of the IOTA network is sufficient to where this can all be done on-ledger.

Read the full article here on  https://www.cryptocoinsnews.com

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