ZuluCalmer wrote:I think that would be excellent to have. I'm still very fresh with TKs but I think if the goal for this currency is to be usable for payments (not just storing of wealth) TimeKoin definitely needs to have some more obvious alerting system for incoming payments. I'm dreaming on walking into my local store one day and using my cell phone to transfer TKs to them when I buy some goods from them. That dream is somehow less appealing if I need to stay at the cashier's desk and wait for the next cycle. I see that the TK is already significantly faster than BTC and BTC is already very well into POS (Point of sale) market.
Actually already have a working Android version that does that right now, but it's still in the beta stage. Basically it is running the same interface, but on the phone, client mode of course (though in theory one could load the full server version on a phone, that would be interesting to test). A POS system would not need to wait because it would simply query the person's account history and make sure no pending transactions are to be processed that would cause a charge back for over drawn balance for example. Timekoin is not really a POS system out the box because it's focus is the core of the network/speed/security but has a lot of API and Client related functions to poll it and use it quickly. But that is no reason a POS system could not be built on top of it. Think of Timekoin as the low level part of the currency where all the work takes place. The Client works on top of that, where it can check, verify, and create new transactions. The POS system would further layer on top of this where the customer uses a phone for example to make a payment right to the cashier. The cashier system would wait for the various layers POS, to client, to server, to network to verify that the customer has the balance to make the payment and that no other payment is queued up at the same time that would conflict with their own payment.
What are the plans for the future development of TK?
Phones, tablets, Web stores & markets, and POS if enough interest is shown for it. Timekoin is designed to be used not hoarded, the current hard coded limit for transactions is 12,300 every 5 minutes It is better suited for the middle ground between micro-transactions and regular, managed transactions. For example, you want to build a POS system that uses Timekoin. You would not want to try to push thousands of micro-transactions every minute, but have a quicker system to help process those quickly into a group and then hand them off to the timekoin network to keep transaction records encrypted and processed later. A small business, individual for example could use Timekoin with ease for transactions as the volume they generate is so low. But for Amazon or Google to use Timekoin, they would have to build their own server farms to help increase the network resources to keep up because Timekoin by design is setup to give the individual the advantage by not allowing a company, entity, etc to flood the network with tons of transactions that would bog down the normal desktop machine. Basically, if you want to do large volumes of transactions, you must bring the CPU & Bandwidth horsepower to support it, you can't get a free ride from the rest of the people running Timekoin on their desktop computers or Raspberry Pi devices.
