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Bitcoin Cash [BCH] heads with two more mining pools announcing zero transaction fees

Prerana Sarkar



Bitcoin Cash [BCH] heads with two more mining pools announcing zero transaction fees
Source: Pixabay

CoinGeekm along with nChain, announced that the mining pools ViaBTC and are going to support and join the ‘Miner’s Choice’ initiative, with the purpose of creating a more competitive market structure with lower mining and transaction fees.

The mining pools had earlier stated:

 “Users will have more choice about how much (if anything) they wish to pay for sending a BCH transaction, depending on the speed they want. If a user wants an instant transaction, the user can choose from a range of small fees made offered by miners. But if a user is willing to wait perhaps 30-40 minutes for a transaction to be added to a block, the user can elect zero fees.”

ViaBTC is the second largest Bitcoin Cash [BCH] mining pool with a 12.7% share of the total hash-rate of the BCH network. They believe in charging a low fee for transactions.

Sara Ouyang, the Chief Operating Officer at ViaBTC has stated:

 “The reason we chose [BCH] over [BTC] is that it has much faster transactions with low fees and better performance in terms of usability.”

On the other hand, has 7.7% and 6.9% share of the total hash-rate of the BCH network as confirmed by Roger Ver. This is definitely a step towards the removal of the dust limits and setting limits for zero transaction fees in their blocks during the time of a transaction.

Bitcoin Cash has adopted the low transaction model to ensure zero network abuse leading to the growth of micro-transactions in business. However, it has not been yet verified as an announcement. In other news, BCH based tokens called “Coloured Coins” will allow users to hold transactions at almost no cost.

The self-proclaimed Satoshi Nakamoto, Craig Wright, tweets saying:

Craig Wright tweets

Craig Wright tweets

The initiative now has a lot of supporters to witness significant changes in the BCH community with long-term effects.

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Prerana Sarkar is a part of AMBCrypto's News Reporting Team from January 2018. She is a Journalism major from Mount Carmel with two years of writing experience in Bitcoin and Blockchain related articles. Prerana does not hold any value in cryptocurrency or its projects