Seven everyday blockchain PROBLEMS SOLVED by the Plaza MerchantChain™

Total bCommerce™ developer Plaza Systems is positioning the Plaza MerchantChain as the go-to blockchain for business, commerce, and trade.
Some have said it is the “Shopify” or “Magento” of the blockchain era; the “Ethereum” for those serious about building commercial applications on distributed ledger technology (DLT).
However established blockchains and distributed ledgers have their problems, many of which are intractable.
Here are seven everyday problems with established blockchains and DLTs which Plaza Systems claims to have solved via its MerchantChain.
They include: 1) speed, 2) cost, 3) trust and reputation, 4) scaleability, 5) future technological threats, 6) price volatility, and 7) ease of adoption.

1. “Blockchain is TOO SLOW for everyday transactions”

Plaza Systems’ MerchantChain can handle 15,000 transactions per second (tps) ALL of which take three seconds or less to resolve.
Recent rumours put the MerchantChain at 20,000 tps wherein each transaction is confirmed in less than half a second.
These are unofficial test results but they point to the MerchantChain — which is still being refined by Plaza Systems’ associate company SQ2 Fintech — having the real potential to challenge global payment networks such as VISA in everyday utility.
Plaza Systems Technology Director & SQ2 Fintech CTO
“Our FSDLT (File System Distributed Ledger Technology) solution runs on mDHT (mainline Distributed Hash Table) networks, which ensures that transactions can be processed in parallel,” explained Ronald Aai, CTO of SQ2.
“Each file is chained to the next creating an immutable ledger.
“And we use our SHOUT (Simple Heuristic Object UDP Transfer) protocol whereby all parties to a transaction — the nodes of the buyer, seller, and witness — shout out the transaction to their peers so that it can be copied, verified, and confirmed much more quickly by the network.
“Older blockchains use a slow gossip-like protocol whereby the first witness whispers to another node which in turn whispers to another node until there is consensus in the network.”
2. “Blockchain is TOO COSTLY for everyday transactions”
By raising the “gas” on their transactions, users can bribe established blockchain networks to process their transactions faster. But this makes for expensive coffee and groceries!
In proof-of-work blockchains like Bitcoin and Ethereum, miners compete to be the first to solve a mathematical problem.
“This incentivises high-powered processing rigs which consume so much electricity,” Mr Aai explained. “Collectively crypto mining operations consume as much energy as a whole country!
“Furthermore, because transactions are written in batches (“blocks”), they are slow, out of order, and cause problems like double spending .
“By making the transactions confirm in real time, all these issues are corrected automatically.”
MerchantChain’s proof-of-reputation (POR) is based on the actual order of transactions using an algorithmic mixture of response time, influence (number of connections), and stake (number of transactions), as well as a healthy dose of randomness.
“A score for participating is given to nodes by other nodes,” Mr Aai explained. “Like a social score, the higher the score the more reputable the node.”
In POR, reputable nodes are rewarded for witnessing transactions so there is no ability to game the system to “mine” more coins.
The upshot is that the MerchantChain ledger can be maintained by ultra-low-powered IOT (internet of things) devices that come in many form factors as well as the Freedom Lifestyle mobile and desktop applications.

3. “Blockchain is TOO DODGY for everyday transactions”

The ability to stamp out fraud and other illegal activities is an oft-overlooked aspect of the crypto world, much of which seems to be more focused on quick capital raising than real-world solutions.
“All individuals and businesses who want to participate on the MerchantChain must have the AURA SSL Certificate,” Mr Aai explained.
“It’s basically an anti-money-laundering (AML) and know-your-customer (KYC) process which helps buyers trust sellers and sellers trust buyers.
“Also your SSL Certificate ensures that your wallet cannot be cloned by malicious users such as what is happening with credit cards now.”
Plaza Systems’ CEO Kevin Johnson added: “This best-practice anti-fraud measure will instill trust and confidence in the MerchantChain, not only among our most cherished stakeholders — the public — but also regulators.”

4. “Blockchain is NOT SCALEABLE”

Built into the MerchantChain model is a strong positive correlation between transaction volume, user numbers, and the deployment of nodes (the low-powered IOT devices and Freedom Lifestyle applications referred to above).
“It’s a positive feedback loop,” Mr Aai said.
“As the volume of transactions on the MerchantChain grows so will overall user numbers and the number of individuals and businesses adopting the IOT devices that are the nodes of the MerchantChain.”
Combined with the SHOUT protocol and the parallel processing capability of the FSDLT, as more proximate nodes are deployed to hear and relay news of transactions, the distributed ledger will be able to keep up with increased volumes.

5. “Blockchain is susceptible to QUANTUM HACKS”

The emergence of technologies such as quantum computing could threaten the very existence of established blockchains.
Fortunately, the MerchantChain is quantum-resistant for the foreseeable future.
This means the distributed ledger and its transactions will remain secure long after the code-breaking power of quantum computing becomes a problem for the mainstream; a claim very few extant blockchain protocols can make.
“Most blockchain protocols are resistant to quantum computational hacking right now,” Mr Aai explained.
“But as quantum computing evolves, the MerchantChain will remain unbreakable thanks to our proof-of-reputation algorithm.”

6. “Crypto is TOO VOLATILE for everyday transactions”

The problem with crypto “currencies” is that they are far too volatile for everyday transactions.
The average consumer will feel uncomfortable paying for groceries today with a currency that could have much greater purchasing power tomorrow.
Likewise, the average grocer will be discomfited by the potential for the currency collected to be very quickly worth less than the cost of goods sold.
This is why the MerchantChain has a native coin, a MerchantChain Transaction Coin (MTC)™.
MTCs are backed by real-world value (not market sentiment), designed for spending (not “hodling”), and have only two decimal places (not 18).
They give the sort of stability and certainty consumers and businesses need in a medium of exchange.
And just as Ethereum allows the minting of ERC20-standard “utility tokens”, the MerchantChain allows decentralised application developers the ability to mint their own MTCs or “transaction coins”.

7. “Crypto is TOO DIFFICULT for consumers to use”

There is no doubt that there is a steep learning curve for newbies to cryptocurrencies. Why should they have to learn about transaction hashes and private keys?
Plaza Systems has thought long and hard about this and has come up with the Plaza Freedom Lifestyle™, which is the other half of Total bCommerce.
The Freedom Lifestyle is a suite of familiar user-friendly product search and payment tools that are more convenient, more private, more liberating, more rewarding, less expensive, and just as secure as traditional tools.
And they all interact with the MerchantChain via the state-of-the-art multi-crypto PlazaWallet™.
#Plaza is trying to connect way of life and innovation together, and to enable push to forward the manner by which the two can associate with each other. This in itself may give off an impression of being somewhat clear to numerous that they could for sure connect this way yet Plaza Systems are anticipating utilizing the intensity of the blockchain to help facilitate the reason in new and inventive ways.
What is Plaza Systems?
Inside this idea, there is something known as 'The Plaza' or, in other words by the organization as a biological community. Besides, they express that they are a frameworks incorporation organization and they center around five unique regions, for example, an attendant service and working for the two traders and customers by means of portable and work area applications.
Notwithstanding, that in itself doesn't clarify the job of the blockchain or the digital money that keeps running close by.
Their commercial center hunt office will scour the whole Internet for the best arrangements and to then decide whether the organization has put themselves on their stage. In the event that they do, at that point the arrangement can be finished by means of the blockchain and utilizing their digital currency. Then again, they have likewise delivered a platinum card which is connected specifically to your record.
As it were, it plans to spare you cash while enabling organizations to advertise their items to their clients giving, ideally, a win-win circumstance for the two gatherings.
The Technical Aspect of Plaza Systems.
The whole stage is based upon Ethereum giving the standard suspicion that all is well and good and dependability that any blockchain ought to look for. Besides, by utilizing the blockchain for exchanges, it will take out the possibility of extortion which is obviously a noteworthy worry for any organization that works on the Internet.
The specialized perspective is clear. An organization has its items on the commercial center, a person with the application and a record goes to buy, and afterward the cash is exchanged from their computerized wallet to the organization being referred to. This is altogether done by means of the blockchain with the demand being put on general society blockchain preceding it being prepared. Plainly, this is done secretly with just the two gatherings monitoring who is engaged with the exchange.
Plainly, the expectation for the organization is that their token will have the capacity to develop as the notoriety of the framework increments, and that is the reason they are just going to acknowledge utilizing their token as the type of money. By and by, they are not by any means the only organization to have adopted this strategy and it is absolutely something that has been appeared to be somewhat powerful previously. The token utilized is an ERC20 token, so in any event you can utilize any Ethereum based wallet, for example, MyEtherWallet as opposed to depending on the one given by the stage.
Fast & future-proof MerchantChain
The foundation of Total bCommerce, the MerchantChain is the fastest, most scaleable, most sustainable, most secure, and most future-proof distributed ledger for commerce.
Incredible Speed
Benchmarked at 15,000+ tps with less than 3 seconds average confirmation times
Inherent Sustainability
A ledger maintained by ultra-low-powered IOT (internet of things) devices and mobile/desktop apps according to a proof-of-reputation (PoR) algorithm
Infinite Scaleability
Positive correlation between user numbers and deployed nodes, more users equals more capacity
Elevated Security
All parties must possess the AURA SSL (Secure Socket Layer) Certificate, preventing fraud and instilling trust and confidence in the ecosystem
Future-proof
The ledger will remain secure long after the code-breaking power of quantum computing becomes a problem
Advantages of Plaza Systems
Maybe the primary favorable position of utilizing a framework, for example, Plaza Systems is the counter extortion estimates that are consequently instituted which will clearly be a noteworthy advantage for clients of the stage. This provides an unquestionably secure commercial center, and by utilizing a computerized money there is likewise no compelling reason to stress over contrasts in cash esteems at the purpose of procurement since everybody is working from a similar base.
Likewise, the speed of exchanges will likewise be noteworthy as the blockchain is known for having the capacity to finish an expansive number of exchanges at the one time, so this will for the most part prompt a more steady market that is anything but difficult to peruse. Obviously, how prominent it will progress toward becoming is all going to rely upon the items and brands that are brought into the crease.
The Financial Aspect and the ICO
Plaza Systems has spread out their money related side of things for the ICO. To begin with, they are just going to acknowledge ETH as the cash for the ICO however then they are based on the Ethereum stage so that is maybe not an astonishment. Additionally, they have a base venture sum which has been labeled at 0.25ETH.
The swapping scale for the ICO has additionally been set at a straight trade of 5000 PLAZA for 1ETH. They have set a hard top of creating a sum of 100,000ETH with an aggregate of 65% of their tokens being made accessible for the ICO out of a sum of 624,000,000.
In any case, the USA is confined from entering the ICO which has turned into the standard because of the controls there. Be that as it may, for those that can take an interest there are rewards identified with the timeframe when you have entered the ICO. These work on a sliding scale through the 3 weeks of the ICO.
By and large Conclusion About Plaza Systems and the ICO.
By and large, the framework that is being offered by Plaza Systems is not really new as there are comparable tasks out there that likewise look to offer items on their commercial center, anyway numerous effective undertakings haven't been completely one of a kind and this venture seems to offer numerous focal points over alternate choices.
How well it can do will rely upon the general population that it can bring into the condition as that will be critical. In the event that there are couple of items or organizations, at that point you will have no market. Likewise, just having the capacity to utilize their advanced money even with the charge card may likewise cause a couple of issues that you should know about.
The group behind the task is by all accounts strong with a large number of the colleagues having immense involvement with comparable kinds of prokects in the past which is a noteworthy in addition to when taking a gander at putting into an ICO.
To finish up, they have a steady item that may in reality have the capacity to fill some sort of need however everything relies upon how rapidly it can set up itself. On the off chance that they can utilize the cash brought up in the ICO on promoting, and do as such in a keen way, at that point it could prompt the estimation of the coin expanding giving you a decent speculation.
With the experience of the group joined with a strong thought with a reasonable vision they ought to do well.
Token Sale Details
The Token Sale will end upon reaching the hard cap or the scheduled end date, whichever comes first. Tokens will be transferable once the Token Sale has been completed.


Scheduled End Date : November 11, 2018 at 09:00 GMT
Token Name & Protocol :PLAZA is an ERC20 token
Hard Cap : 100,000 ETH
Token Exchange Rate : 1 ETH = 5,000 PLAZA
Accepted Payment Method : ETH
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My ERC-20 ETH : 0xbDa885f32D13413dc31d5B8A781092e8EBE25002 
My Telegram : @BogdanPolyansky (https://t.me/BogdanPolyansky)
My mail : dzyurko@mail.ua
Bounty0x username : valtron13 
VAlet11
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"This article was created in exchange for a potential token reward through Bounty0x" ******

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