I have used BitcoinCash to renew web hosting
BitcoinCash or BCH price has been doing well.
BitcoinCash (BCH) is a cryptocurrency for peer-to-peer electronic cash payment.
Everybody knows
Why am I repeating it?
BitcoinCash is a hard fork of Bitcoin, and BitcoinCash scales nicely.
This week, BitcoinCash's price fluctuated around the dollar 500 mark.
Does the top cryptocurrency, Bitcoin, scale?
Bitcoin (BTC) doesn't scale.
Everybody knows it here!
Why am I repeating it?
Hold on. I always like quoting the title of Satoshi Nakamoto's Bitcoin whitepaper, which is available on the Internet.
However, BTC fees and processing time became exorbitantly high.
That also is a widely known fact about BTC.
Fortunately, a hard fork of Bitcoin, named BitcoinCash (BCH) evolved as a solution.
You know it, and use BCH now and then here!
BCH scales nicely and is viable for real-world payments.
I used BCH as a currency of payment to renew my hosting account early this morning.
The BCH network has taken about twenty minutes to complete the payment process.
The cost of hosting renewal for four years is approximately USD 125 which came around 0.26 BCH.
The corresponding fee for this transaction is one cent.
If I had chosen BTC instead of BCH, the fee would have been a few dollars, and the transaction wouldn't have been processed so quickly.
I used Hostinger to host web pages and buy domain names.
Some people argue that the Lightning Network may solve the scaling issues of BTC.
There is a second layer in BTC called Lightning Network (LN).
LN might have reduced the processing time.
I read somewhere that LN is quasi-centralized!
Is it true?
What do the expert lovers/haters of BTC say?
If it is so, LN may lower security!
Some people may say that a second layer improves security.
But can LN reduce the hefty BTC fees per transaction?
My expert friends may please comment on the utility of BTC over BCH or otherwise.
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About me
I am a researcher and contribute to the overlapping areas of STEAM (Science, Technology, Engineering, Arts, and Mathematics). I am an active user and promoter of GNU/Linux, Free and Open Source Software. I develop cybersecurity and information security solutions, specifically graphical authentication security.
<> Originally published on Publish0x.
Cheers!
Text Copyright © 2023 Debesh Choudhury — All Rights Reserved
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Disclaimer: All texts are mine and original. Any similarity and resemblance to any other content are purely accidental. The article is not advice for life, career, business, or investment. Do your research before adopting any options.
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March 26, 2024
BCH，让生活更新美好