The real problem crypto needs to solve
Currently, the world is distracted by 2,000 whales “yield farming” on a broken blockchain (ETH) with 5 minute transaction times and $10 gas fees. But that’s not the core problem.
This is:
Problem Statement
1. you want to build an app or a website that has something to sell, for example, an NFT, or a VIP level which gives you access to a special website, or an hour of your time, or a T shirt..
2. You want to price this thing in USD or EURO. Not some crazy crypto like WAX or ETH
3. You want to take payment in crypto and it’s got to be extremely fast and reliable. It’s got to work worldwide.
4. You want to support multiple wallets.
5. You want to do as little coding as possible.
Possible Solutions
1. The “Pay with CoinBase” solution
This is a cop out. Essentially, as long as your funds are custodially stored in Coinbase, yes, you can trivially move them from one CoinBas account to another. But that fails Point 4. It’s really not crypto. It could just as well be “Pay with Wells Fargo”.
2. The WAX Solution
Fails Point 1. You really need everything denominated in USD or EUROs. And with all due respect to the “WAX cloud wallet”, you need a different UX path.
3. The EOS MainNet Solution
Building apps on EOS that ask for EOS has not produced great results. Non free accounts and CPU issues remain. UX issues remain. Wallet issues remain. Point 2 remains.
4. Ethereum
$10 Transaction Fees. 3 Minute Transaction Times. Works for DEFI. Does not work for anything else. MetaMask is a UX Nightmare.
None of these “solutions” works. Enter Proton.
- A super-fast, low cost blockchain built on top of EOSIO, but with a different resource and governance model
- A combination of wallet and ESR push model that completely works.
- A simple, easy to use flow that solves the target problem with stable-coins.
