The Caasiope Project May Have Answers to High Fees and Slow Transactions

High fees and slow transactions are plaguing the cryptocurrency world at the moment, and one project is looking to change that.

According to The Caasiope Network, they are the first cryptocurrency-as-a-service.

Bitcoin's original "7 transactions per second" is no longer sufficient for the number of users who are transacting on the network.

Fees associated with each transaction on the Bitcoin blockchain, which had been minuscule up until this point, began to swell, causing expensive and slow transactions to become the standard.

Ethereum users noticed that the blockchain had become incredibly congested with slow transactions which subsequently forced users to pay higher transaction fees.

The Caasiope Project is hoping to solve all of these issues and return crypto to the original vision speeding up transactions and minimizing fees.

The Caasiope project is being led by Guillaume BONNOT, who noted that he is looking for alternative solutions to the proof of work consensus.

"The idea behind the Caasiope Network was to create a lightweight blockchain on top of which you can run any business."

The Caasiope Network is built as a layer-2 protocol designed to process cryptocurrency payments across blockchains through a single-entry point.

"Over time new blockchain projects are becoming more and more complex with more and more features, so they require an extensive amount of engineering to integrate into your business, I designed the Caasiope Network to be the most simple blockchain with only a few mandatory features, so we can focus on building services that will offer a better user experience. The next evolution of blockchain technology will be about layer 2 protocols, many different approaches from many different projects, but unlike layer 1, they are not going to be exclusive but complementary to the Lightning Network, RSK or the Caasiope Network have different uses cases and should be used in different situations."