The digital world we are in now have brought a lot of opportunities and not only opportunity but also transforming the world of the commerce and how it is been conducted. One of the aspect of the digital world that I have seen transformed is the E-commerce and this is what is leading in the financial world right now. Over the years, the e-commerce have been able to transform and get better over time and the digital payment is getting more obvious and obvious to be the cornerstone for the financial system in years to come.
The Blockchain technology have been able to transform the e-commerce and one of it is the Tron Blockchain. Let me first talk about we understanding more about the Tron Blockchain briefly. The Tron Blockchain which was founded by Justin Sun in the year 2017 and it is making use of the Blockchain technology to get much more better than one can ever imagine of. In fact, the fact that it makes use of the Delegated Proof of stake which is DPoS and making use of the consensus mechanisms and this helps the transactions to be carried out much more effectively as the traditional proof of work (PoW).
One of the strength I have come to discover that the Tron Blockchain possesses is what I called the speed and Scalability. I will be explaining much more in depper. The fact that Tron have this strength in speed and Scalability, I will say it helps to make transactions that will be carried out in the e-commerce sector to be so effective. The last time I checked, i discover that the Tron Blockchain can handle over 2,000 transactions per second which is in fact what every e-commerce platform will want to thrive and succeed.
Talking about Scalability, it means that even if the transactions are increasing day by day which not be avoided because the e-commerce will continue to grow and grow most especially exponentially, then I will say the payment system based on the Tron Blockchain technology will be able to handle a whole lot of volumes of transactions without not affecting the platform or the transaction activities actually.
Talking about the Cost Efficiency, I will say the transaction fees is a huge one for the e-commerce businesses and the high fee is helping to complete the purchases. Over the years, the traditional payment gateways have been a major hindrances because the cost are actually so high but when it comes to the Tron Blockchain, it will be cost-effective and this helps to give a transaction fee that is low and cost effective compared to the traditional payment gateways actually.
The last one I will like to talk about is that it helps to enhance the security and transparency. Security have been a major concern in the e-commerce sector and this is increasing in the cyber threats and also the data breaches and also the Tron Blockchain technology that helps to provide high security and that was actually achieved through Decentralised nature and this Decentralised nature helps to achieve a lot of transactions to be more transparent. Not only that, the fact that the Tron Blockchain also shared similarities with Blockchain in terms of transparency and immutable goes a long way to help reduce the risk of fraud and increase more trust among the participants.
Of course even though there are a lot of advantages it offer, there are still a lot of challenges that still need to be looked into which I strongly believe it is just a matter of time before that is dealt with actually. The regulatory uncertainty like I always say in my post have been a constant concern but I believe as the adoption of the crypto space generally continues to spread in the future, it will help to actually deal with it actually.