Central Bank Digital Currencies (CBDCs) are fastly gaining traction in the crypto space as several countries have jumped on the moving train. CBDCs have proven to be a path that will help digitize a country’s economy and 2023 has seen a wider adoption of them.

Countries such as Australia, Thailand, Brazil and Russia are set to kickstart their pilot program. In line with this growth, several blockchain networks have reacted to this. Topping the list are Polygon, NEO and the novel but rapidly growing, TMS Network (TMSN).

Polygon (MATIC)

Polygon (MATIC) is a Layer 2 network, developed to solve the existing scalability problems in Ethereum. In solving this, Polygon (MATIc) processes and handles all transactions on a separate Ethereum-compatible blockchain, returning the transaction to the Ethereum blockchain for post-processing. 

Polygon (MATIC) boasts of processing 65,000 transactions per second. It is also known in the space for its low gas fee. This has been made possible through the use of plasma side chains, zk proofs and optimistic roll-ups in addition to the processing of its transactions on side chains. 

Responding to the growth of CBDCs, Polygon (MATIC) can seamlessly serve as the bedrock upon which CBDCs are built. This is possible through the scalability and low gas fee of the network. The launch of CBDCs will attract a horde of users who will use them for transactions. Hence, it is ideal to make use of a network that can process thousands of transactions per second. 

NEO (NEO)

The NEO (NEO) network by its blueprint foregrounds decentralization. It was designed to digitize assets and identities using smart contracts. Through these smart contracts, NEO (NEO) attempts to automate the management of digital assets using decentralized applications. 

The project intends to compete with the dominance of Ethereum and other developer-welcoming projects. In achieving this, NEO utilizes a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism which supports up to 10,000 transactions per second. 

The NEO (NEO) network gives a warm reception to developers, allowing them to use its software to run smart contracts, imitating real-world services and products. With this, NEO offers a solid foundation for CBDCs’ developers to build on, leveraging its smart contracts and speed, both of which are key to the success of CBDCs. 

TMS Network (TMSN)

TMS Network (TMSN) is an Ethereum-based decentralized network that is poised to transform the traditional trading industry. To achieve this, TMS Network (TMSN) addresses many of the problems that have plagued the traditional trading space. 

One of the riveting features of TMS Network (TSMN) is its social trading feature. This feature connects traders on the TMS Network (TSMN), establishing a symbiotic relationship. Also, the TMS Network (TSMN) provides fast and efficient transaction processing that ensures that trades are executed in real-time with low latency, executing large transaction volumes and large numbers of users with ease.

The issuance of CBDCs by central banks is to proffer solutions to the problems of a nation’s traditional economy. The confluence of CBDCs and TMS Network (TMSN)- a network poised to solve the problem of the traditional economy, will of no doubt be a sublime partnership as two problem-solving ideas come together. 

The transaction speed and scalability of the TMS Network (TMSN) have made it the best option for CBDCs. 

Conclusion 

Taking a look at the trio, it is crystal clear that TMS Network (TSMN)  is the best option for CBDCs. TMS Network (TMSN) offers an all-in-one solution that others do not. 

After finishing the first phase of its presale, TMS Network (TMSN) is now trading at $0.038 at its phase 2. No time to wait around, check out the promising project now.

Presale: https://presale.tmsnetwork.io

Website: https://tmsnetwork.io

Telegram: https://t.me/tmsnetwork

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