Exchanging and transferring value must be very easy like how we exchange information. The second generation blockchain technology aims at offering this ideal foundation in making this dream a reality. In achieving a solution regarding the technology and applications to be developed the following should be put into consideration:
Speed and scalability
The leading cryptocurrencies which are the Bitcoin and Ethereum run 7 to 15 transactions per second while the Visa runs 50-60 thousands of transactions in a single second. This makes it impossible for these blockchain platforms to become real-time global payment networks. To achieve that they need to have multiple speed compared to the Visa transaction, thus having a million transactions per second. To achieve this, there should be a different architecture design from scratch or a native layer or an entire smart application of a type of lighting network which will work as a secondary layer that contains payment channels.
Low or no transaction cost
Despite the fact, the current blockchains are very slow, but they also include high fees in conducting the transactions which are related with the network congestion as well as under capacity in processing many transactions within a period of time. In many countries, users are used to freeing basic domestic payment methods even though costs are hidden deep within the monthly service fees or similar fees. Therefor to solve this, the new methods should be virtually free to users and be easy to adopt.
Irreversibility
For example, users that use the retail card payment have been used to payment confirmation which can be virtually instant, Bitcoin payment can make a user an hour to get the confirmation and a couple of minutes for the Ethereum. Users do not like to wait for a long time, and that means the system must be instant.
Decentralized, flexible, and transparency trust
There must be no central system that dictates and manages the whole transactions and system that its approval is necessary in order thing to run through. This means that the system should let everybody participate, thus guaranteeing access and including all users to the network services. Users should be able to select any number of parties that they think that are fit and this will make every user of equal importance.
Safety and security
Security should never rest only on just normal digital signatures and has families. The security should be extended to protect the users from hostile parties even from those who have higher computing powers that may turn into quantum computing in the future. The encrypted blockchain private keys should be created to be quantum resistance even though we are not there yet.
Easy, convenient and friendly user interfaces
The user interfaces of the services which include the wallet, exchange and of the network must be simple and very easy to use. This will make user buy, sell, and store and transfer value using the available apps. Many platforms consist of complex user interfaces that prevent users from using them hence their value remain locked.
Vast, engaged user base and community
The network must be able to reach a lot of users, and the community should easily adapt it and use it for various purposed from individual to business, from corporate to institutional. This means the platform should not be positioned to target institutional and corporate users, but there should be ender users as well as individuals.
Argentas is developed in such a way that it aims at solving the major problems discussed above through the Hydra Network that will facilitate speed, scalability, transparency and a decentralized blockchain architecture. This will also support and combine external network interfaces as well as bridges such as exchanges, wallets, banks, and other external service providers.
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