The Bitcoin Cash (BCH) network has seen some major improvements even when the price of the cryptocurrencies had seen a major drop in the first quarter of 2018. The price of Bitcoin Cash had also fallen as a result of the talks about the regulations on cryptocurrency trading and the overall negative sentiment in the cryptocurrency market. The development phase of Bitcoin Cash includes merchant adoption, infrastructure and the creation of many on-chain applications. In the second quarter it has already been observed that many crypto coins are on the way to recover from the bearish trend of Q1. At the time of writing, according to coinmarketcap.com, the price of BCH shows $1,401.37 USD approximately and is ranked at 4th position. (As of 30th April 2018) In fact, there are many reasons to hold onto Bitcoin Cash (BCH) in the present year.
On-Chain Social Network, Memo:
Memo is basically an on-chain social network site that has been developed on the network of Bitcoin Cash. From the developer of Memo, “I’m happy to announce the launch of Memo, an on-chain social network built on Bitcoin Cash — Memo is both a protocol and a front-end application.”… “The protocol works by writing transactions to the Bitcoin Cash blockchain. Client applications can read these transactions to see the activity on the network.” The profile created by a user of Memo will be connected to a specific BCH address and will also have a public/private key pair. The user can then link certain data like a quote, a particular date or a website URL through the platform. The data must be hashed using an OP_RETURN transaction into the Bitcoin Cash chain.
Companies Starting to Adopt Bitcoin Cash (BCH):
With the development of blockchain technology and the increase in the number of cryptocurrencies, many vendors see the need of adding the crypto coins as a mode of payment. There are many vendors that are looking forward to BCH. Recently, 5 vendors including a cafebar have included Bitcoin Cash (BCH) to their list.
- Goldsilver: Goldsilver was founded by Mike Maloney and deals in the selling of precious metals like gold and silver in the form of bars, jewellery and coins. The company has also incorporated Bitcoin (BTC) into their payment system. However, the payment has to be conducted through Bitpay.
- Coins Crypto Cafebar: Like many Japanese vendors, a new cafebar has also accepted BCH into their system. Japan has already declared in the last year through Payment Services Act that paying with cryptocurrencies is also legal. This cafebar will be having a grand opening on 12th May in Osaka. Till now, 15 different crypto coins have been included by the cafebar.
- Safecast: Safecast, in the words of its Director of Global Operations, Sean Bonner “design the hardware and software for specific environmental monitoring”. Their products are mainly hosted on the website of Kithub. Kithhub, in turn, accepts payment made using BCH through Bitpay.
- Undertech: The Company specialises in selling concealed-carry clothing like jackets, leggings, vests and holsters. As Undertech has recently incorporated Coinbase Commerce as a checkout option, the customers can now pay using BCH, ETH, LTC and BTC.
- Rebecca Z: Rebecca Z is a Japanese jewellery website that focuses on everyday jewellery for working women. To make the payment procedure easier they had started accepting Bitcoin (BTC). Now, the company also accepts Bitcoin Cash (BCH) as a mode of transactions.
Increase in Bitcoin Cash Meetups Worldwide:
There are many ways of supporting a cryptocurrency and meetup is just one of many. Meetup is basically a platform where one can form groups and start a discussion regarding their area of interest. It also includes discussion forums on cryptocurrencies. Meetups regarding BCH had already attracted many cryptocurrency enthusiasts, traders and investors since the beginning of its journey. Recently, the growth of the BCH group meetings has increased exponentially. People from Tokyo, San Francisco, London, Hong Kong, Beijing, Sweden and numerous other places meet up regularly. Bitcoin Cash Fund and many other non-profit organisations facilitate the BCH meetups worldwide.
The above-mentioned points are the latest developments observed on the Bitcoin Cash network. One simply has to invest in Bitcoin Cash (BCH) and hold on to it and take the advantage of rise in price as BCH continues its adventurous trip.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Marco Verch via Flickr
Blockchain technology outshines Bitcoin and Gold during global pandemic
As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.
However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world.
Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.
What is blockchain technology?
Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see.
Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).
Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…
Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC
The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.
The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.
Musk’s Tweets also impacted Dogecoin’s price
Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.
He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.
But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…