Bitcoin Cash gains support for its ecosystem
Bitcoin Cash (BCH) came to be well after the birth of Bitcoin, about nine years after. However, the BCH blockchain is already 8,037 blocks ahead of the number one coin. The chain operates at just 11.8% of the difficulty associated with BTC, and is 4.8% more profitable in mining operations. At only six months old, BCH’s value has grown at a rapid rate, and is currently worth $1,292, at the time of writing. Things don’t appear to be slowing down for Bitcoin Cash, and the digital coin can thank various sources for its growth.
This week, BCH has gotten some infrastructure help from several directions. India’s Unocoin exchange has launched a multiple crypto asset exchange using BCH. Bread, a popular cryptocurrency wallet, has announced that it will soon add full support for the cryptocurrency. Communications medium Telegram introduced the beta version of a BCH tipping bot, tipmebch. The platform allows users on Telegram to tip BCH to other users through the app. It is currently only in an experimental phase, and needs more tweaking and development before it can be launched mainstream.
Paybis will soon allow the purchase of BCH through debit or credit cards. Daily limits of $20,000 and monthly limits of $50,000 will be available. Once the green light is given, users will be able to instantaneously receive payouts through the platform. Paybis currently supports BTC and Litecoin, and is available in the U.S., Asia, Europe, South America and Africa. Lastly, BitPay is reported to be close to implementing BCH invoices, opening the doors to a growing number of merchants and services that currently accept payments by cryptocurrency.
As BCH continues its rebound, more infrastructure will be added. To help keep the momentum going and to explore future developments, two conferences will be held this spring that focus on the BCH ecosystem. One is hosted by CoinGeek, and the other by Bitcoin Unlimited.
Bitcoin Cash dipped to $760 on February 6, before recovering during a cryptocurrency-wide rally just a few days ago. The coin’s path to resistance has swung upward, indicating the possibility of the cryptocurrency regaining its previous high of $1,650. Optimism is high and it could be possible to see the coin reach over the $2,000 mark within the next couple of months.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.
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