Cashless transactions require a third party
Cashless transactions require a third party
With cash, or bottle caps, or any physical token, all you need are two people that agree it has value. Possession is the ledger.
If only there was a way to timestamp digital transactions without a write-only ledger...
all you need are two people that agree it has value
The entire idea of currency requires a network of people who project a common value in the implemented token/object/hash.
For most cases you don't have to wait for a confirmation. Accepting a typical non-RBF 0-conf transaction is safer than accepting a credit card payment, because it is trivial to reverse a CC charge, but difficult to suppress a 0-conf transaction sitting in the mempool of thousands of Bitcoin nodes.
«many coins have one pool with majority»
It is not the case for most popular coins: BTC, ETH, BCH, LTC...