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The GCN Coin is a digital currency that runs on blockchain technology.
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In GCN, alliance members can add new members via the “sendvotetoaddress” function.
However, since Bitcoin was the first to solve the centralization issue, it had to compromise in various areas. One of these major issues is the speed of transactions. Scalability and regulatory concerns have been significant growing pains for blockchain applications in the financial market. Some financial service entities require permissioned ledgers due to their contractual and legal accountability for processed transactions.
The Weaknesses of Bitcoin
Additionally, Bitcoin’s weaknesses in the e-commerce industry are related to transaction frequency and currency volatility. Trading frequency is currently limited to 7 transactions per second, and its price has fluctuated due to market speculation and regulatory concerns. Bitcoin’s economic incentive to monopolize mining power is a major c
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