The Next Wave of E-Commerce is... Parallel?
Shek
@ShekCreator
·
17 feb.
The truth is, it is especially hard to be unique in the current crypto market. Finding projects that align with your values, is where the gold is. Here's what I love about Nexa specifically:
Complete uniqueness is near-impossible, and everyone is hunting for the next unicorn. There is a revolving door in and out of the crypto industry, from which we see people enter and exit daily.
Trends and narratives typically drive market adoption and growth, making for an often-volatile experience, but if you've lasted a few cycles, you know the motto: just keep buidl'ing.
From my experiences working in the trenches of pre-launch phases for various crypto start ups, to seeking funding or launching large scale go-to-market campaigns or preparing for mainnet deployment - what truly sets a brand or solution apart are these three things:
Storytelling: messaging is everything
Community: not just airdrops, real community engagement and loyalty
Strategic position in the market i.e partnerships and collaborations, overall presence paired with your ability to connect and provide value to other businesses/projects/lookalike audiences in the larger crypto-ecosystem
It's not enough to talk about how amazing the tech is; we capture new audiences by demonstrating what the tech can do.
So, marketing lingo aside, when asked, the primary reason I love @nexamoney is for the seamless scalability the network offers builders who wish to deploy applications that can facilitate use cases processing high volumes of tx processing.
Before I transitioned into working in crypto five years ago, I previously worked with various e-commerce businesses. I also worked in media and journalism pre-Covid, and for 2 years, ran a magazine of my own. I know first hand how important it is to have technology you can rely on for fluctuating numbers of users, subscribers, customers etc.
Nexa is the promise of a transparent, fairer financial future for the global economy, realised. While you could argue the entire industry is working towards the same goal, I love the particular approach Nexa is taking and this is why I'm committed.
Built utilising the UTXO model, reinforced by cutting-edge hardware solutions, all while being actively developed by an incredible team of experts; this is a project I enjoy being a part of.
With that in mind, one of the primary use cases I have enjoyed exploring when considering Nexa's capabilities, is E-Commerce. And now that articles on X are a 'thing', I look forward to creating more content that explores what blockchain can do for mainstream industries and businesses looking to dip their toes into the world of Web3.
To better appreciate Nexa's technology, it is wise to start with how it applies to real world scenarios, and what role it plays in the modern world of business, finance and innovation.
So, let's explore.
Scaling with Parallelism
Nexa will scale to over 10 billion transactions per day, and our Proof-of-Work algorithm currently targets a 2-minute block time.
Consider a global e-commerce platform processing millions of microtransactions or subscription fees daily. On Ethereum, congestion and high fees may make real-time payments impractical and costly. On Solana, state synchronisation issues or frequent network outages may create delays and user dissatisfaction.
As Ethereum utilises the accounting model, users have seen historically the Ethereum network produce higher gas fees and slower transaction times as the network scales. Solana also utilises the accounting model, though they claim to use a parallel EVM. Solana’s parallelism is, however, still limited by the need for complex state synchronisation.
While the accounting model simplifies tracking by maintaining a global state of accounts and balances, it doesn't offer the same level of efficiency as the UTXO model does.
By contrast, smart contracts and tx processing on Nexa are of course stateless and UTXO-based. This model enables transactions to be verified independently. Because there is no global state that can impact the execution of these smart contracts, the results are deterministic and predictable. This design enables our network to execute thousands (and one day, billions) of transactions efficiently, making it ideal for industries requiring high throughput and total network reliability.
Nexa’s parallel execution of tx processing would help to ensure that transactions don’t compete for state updates, allowing businesses to scale with more reliability and effectiveness, while maintaining low fees and reasonably fast settlement times.
Tackling the issue of Blind Signing Risks in Smart Contracts
One of the biggest security vulnerabilities to address is blind signing, when considering e-commerce use cases, or any use case where multitudes of transaction handling is required.
Blind signing is a scenario where users may approve transactions without fully understanding the implications or having a transparent view of all the specifications of the contract upfront.
This problem is particularly prevalent in Ethereum’s smart contract model, where users sign transactions that may later be exploited due to hidden vulnerabilities or unexpected execution paths.
An example of blind signing risks would be if a new marketplace opened on Ethereum that appears to function like UniSwap where a user may interact with the marketplace contract to swap assets. A user might sign a transaction thinking they're swapping assets on chain but it is difficult for users to easily determine what the contract does during execution; they may end up sending funds to unintended recipients or not receive the tokens in the amount they were intending to swap for.
On Nexa, a user does not just sign a contract blindly, because it is conditional that all the inputs and outputs are displayed prior to signing.
Businesses hoping to leverage blockchain for micropayments, subscription services, financial transactions, digital asset management, or even supply chain settlements, can benefit from utilising a network like Nexa which offers predictability and reliability in transaction processing.
This is why I believe the future of E-Commerce is parallel - or at least it could be.
When we talk about solving real world problems, we must in part also talk about how to deploy sensible, intuitive and logistically sound solutions.
Solution architecture is a highly sought after skill in TradFi and the IT club of Silicon Valley; it is of equal importance in Web3, in my opinion. The ability to create a blueprint that aligns development teams and software projects with business objectives and product market fit, is a valuable skillset and one that I'd like to see talked about more.
Conclusion
To summarise, Nexa’s UTXO model solves two challenges that should be considered when reviewing the use case of E-Commerce for blockchain: blind signing risks and scaling bottlenecks. This is why the blockchain you choose to build on, is highly important.
Nexa provides businesses with a secure, efficient, and scalable blockchain infrastructure tailored for real-world applications and solutions. Whether in finance, gaming, e-commerce, or even enterprise solutions, Nexa offers a next-generation approach to blockchain that prioritises both security and performance.
