![]() From a macro perspective, it's definitely an interesting token to look at from that angle, and as you mentioned, there are a number of partnerships that the company has worked with to grow at current network across a number of real businesses. I know we touched on that a little bit during the show. There are some other networks that are doing similar things, but Amp's non-inflationary token as well. Amp solves that, and it's a pioneer in that regard. They can know that they're going to get the money that's owed to them, similar to processing a credit card transaction or something of that sort, and instantaneous payments are a way of life that we just take for granted, but in the crypto world, that's not really how it works right now. What that means for the commerce utility or the commerce use-case behind crypto is it makes these transactions more secure for merchants. If for some reason the transaction fails, the merchant will be rewarded or compensated in AMP tokens. Essentially, based on that, a smart contract will execute given enough collateral. ![]() When you're looking at paying less fees it could take half an hour, an hour, or even longer depending on how many transactions are going through the network.īut Amp has stepped in to solve this issue, and this platform does this by requiring collateral from those parties initiating the transfer. If you pay the higher gas fees to get what they call a faster quick transfer, it could still take a few minutes. The same thing goes for transferring via Bitcoin ( BTC 2.18%) and the speed as well. One is there's going to be some fee involved, and in the case of anything based on top of Ethereum, like you touched on before, there is gas fees that can be pretty significant. The big pain point with a lot of crypto users is when you're trying to transfer money over any blockchain really you're going to see two things. ![]() The advantage with Amp is it provides lightning-fast transaction times. AMP users can stake AMP tokens to guarantee financial exchange such as digital payments, currency exchange, loan payments, and property sales regardless of the consensus mechanism. It's an open-source Ethereum ( ETH -0.71%) based protocol. The creators of AMP coin aim to remove the likelihood of fraud and reduce the cost of counterparties transactions. I think it's important to keep things in context for sure.Īmp is one that I just started looking at it's created by Flexa. Why is Amp interesting?Ĭhris MacDonald: Yeah, that's a really good intro. That sounds impressive, but that's like being accepted at Subway or something so you know, it's still early innings in that regard. It provides lightning-fast transaction times and it's accepted at 41,336 locations. This is 2.5 billion in market cap, it's the 70th largest crypto. *Stock Advisor returns as of November 10, 2021Įric Bleeker: Let's look at Amp. and Amp wasn't one of them! That's right - they think these 10 stocks are even better buys. They just revealed what they believe are the ten best stocks for investors to buy right now. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* When our award-winning analyst team has a stock tip, it can pay to listen.
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