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Goals
- Support transaction throughput that rivals that of Visa.com. Reduce the amount of time required to approve a transactionGrowth
Background and strategic fit
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Average transaction approval time is 3.7 seconds. This is still slow, all things considered. The Ripple network probably can return a consensus failed message fairly quickly, but still needs on average 4 seconds to clear consensus. This means that card swipes at a POS won't clear in time. There are other benefits for banking institutions that are listed above.
Assumptions
- The primary factor in transaction speed is consensus.
Requirements
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