Bitcoin offered to turn into a single currency of the Internet
Bitcoin offered to turn into a single currency of the Internet
One of the founders of Twitter and the current service manager Jack Dorsey believes it is right to create a single crypto currency for payments on the Internet. The best contender for this role, Dorsey called bitcoin - the most popular and oldest crypto currency. He stated this at the conference Consensus 2018.
"I think the Internet deserves its own currency. He will have his own currency. I do not know if it will be bitcoin, but I hope so, "the American businessman said. He admitted that such a question raises much controversy and criticism.
Dorsey is a long-established adept in crypto-currencies, and in 2014 appointed bitcoin as one of the means of payment for the Square platform, designed for credit card transactions on mobile devices.
Source: tech.onliner.by
Bitcoin Cash is a fork of the original Bitcoin Blockchain. It operates with a number of changes that make it faster and better able to scale when compared to its older brother.
It does this by introducing a block size of 8mb, up from Bitcoin Classic’s 1mb. This increase in size allows more transactions to be entered into each individual block before they’re encrypted into the blockchain. This allows more transactions to be processed at once, and so vastly increases the speed of the entire process - allowing transactions and currency to move and be confirmed faster.
This allows Bitcoin Cash to retain the security and utility of the Bitcoin blockchain, while having the ability to deal with transaction volumes close to that experienced by Paypal or Visa.