ETH network MetaMask failure in Venezuela could be an opportunity for smartBCH and BCH

Earlier today, users from Venezuela and Iran began experiencing issues with accessing their digital wallets, with hundreds of users claiming that none of their MetaMask transactions were completed. This is coming after a new US government sanction on cryptocurrency. The developers of the Ethereum Network wallet Ifura inform they are currently looking into the issue and hope to get it resolved quickly. The problem is said to only be affecting Ethereum transactions, while other networks appear to be unaffected.

The fundamental issue with Ethereum is that 99.99% of end-user access is controlled by a single entity called Infura which hosts the system for Ether transactions. Infura’s blockade of users from these regions comes as a result of the crypto industry’s compliance with sanctions imposed by the U.S. and other national authorities against Russian firms. In the past, this has led to problems with money being stranded in places, which have seen millions of Ether trapped without any transfer. That is what appears to be happening now, as users of the popular wallet platform are unable to send or receive funds from their wallets with the Ethereum network.

Users in Venezuela and Iran have had difficulty transacting with the Ethereum network on their MetaMask. This could be an opportunity for BCH and smartBCH to gain traction in the affected regions. Since smartBCH is an Ethereum compatible network, users of The MetaMask wallet in the affected region could migrate to the smartBCH network. This also could see some Ethereum users migrate to the smartBCH network.

Ether users could turn to smartBCH as an alternative to Ethereum's network. But for this to happen, there must be a migration from ETH to BCH using any of the available bridges, and potentially to smartBCH. That appears to be the simplest and best solution to the problem the Venezuela and Iran users are having with Ethereum transactions using the MeteMask wallet.

The good news is that the smartBCH network is an independent network From Ether. So there is no risk of migrating to BCH and abandoning ETH. Yet, since smartBCH operate with the MetaMask wallet it could be the easiest way for users in those regions to get their funds from the Ethereum network.

Also, the BItcoin.com wallet could play a huge part if available in the affected regions since it hosts an ETH wallet and has swapping functionalities. The alternative is to get hold of your ETH and exchange it to BCH and transfer those BCH to Bitcoin.com BCH wallet and to your MetaMask wallet using smartBCH bridges.

Reliably, users will have to send ETH on their exchange wallet to MetaMask and can then swap it to BCH using the SmartBCH bridges. SmartBCH is relatively new, but as it is the EVM compatible with Ethereum it can be expected to perform the task flawlessly. And smartBCH could just be the real deal since it offers the same processing power as Ethereum’s but without its risk.

The switch from Ethereum to smartBCH could be massive for BCH should the people in the affected regions see it as an opportunity. That’s because smartBCH offers approximately five times more power and processing ability than Ethereum itself, making it easier and safer to execute transactions on the smartBCH network. And on top of that, users will have to pay lesser transaction fees compared to on the Ethereum network.

With smartBCH, the BCH network could experience an explosive adoption rate in the coming days and months in Venezuela and Iran. And with the switch to the smartBCH platform, cryptocurrency enthusiasts and traders in those regions will not miss out on the opportunity to make profits as they have always done.