Connect with us

Bitcoin Cash

Bitcoin Cash [BCH] pumps after Bitcoin.com announces privacy focused P2P exchange, Local Bitcoin Cash

Avatar

Published

on

Bitcoin Cash [BCH] pumps after the announcement of the privacy focussed BCH P2P exchange, Local Bitcoin Cash
Source: Pixabay

Bitcoin Cash, the sixth largest cryptocurrency in the world, surged after Bitcoin.com announced the introduction of a new peer-to-peer exchange, Local Bitcoin Cash.

Unlike most cryptocurrencies, Bitcoin Cash was not exhibiting sideways movement. The bull rally for Bitcoin Cash started in March 2019, when the price was $125 and the market cap was $2.27 billion.

Source: TradingView

The price rose by approximately 31% between 12 and 23 March, 2019, a massive pump considering the bear market and the performance of other altcoins. The price pumped by approximately 9.24% after the announcement of the P2P exchange.

At press time, the cryptocurrency was priced at $164.50, and the market cap was $2.94 billion. P2PB2B contributed a whopping $36 million in 24-hour trading volume via the trading pair BCH/BTC and $23 million via BCH/USD.



With the launch of the new exchange, users will be able to directly exchange BCH in a private manner. According to Bitcoin.com, the exchange will have three important features that will set itself apart from other crypto exchanges. The article stated,

“Firstly, privacy will be of utmost importance for Local Bitcoin Cash users. Secondly, the platform will provide end-to-end user side encryption; a system of communication where only users can read and decrypt their messages. Finally, just like our popular noncustodial Bitcoin.com Wallet, the peer-to-peer Local Bitcoin Cash exchange will be secure as the service never touches your funds.”

Further, the exchange will also allow a multitude of payment options, allowing users the option to see who is buying or selling so that “offers” can be considered.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Bitcoin

Bitcoin’s [BTC] security is 100 times more than that of Bitcoin Cash’s [BCH], says Litecoin creator

Priya

Published

on

By

Bitcoin's [BTC] security is more than a 100 times than that of Bitcoin Cash [BCH], says Litecoin creator
Source: Unsplash

Charlie Lee, Creator of Litecoin [LTC] and Managing Director of Litecoin Foundation, spoke about projects that allocate mining rewards to developers, in an interview with Laura Shin for Unchained Podcast. He also opined about whether Litecoin’s vision still remained the same or not.

On projects that allocate a percentage of the block reward to developers, Lee stated that it was “okay” as long as the project developers were transparent on this subject, adding that in some cases, this was “needed”. He further stated that it was hard to find developers for Litecoin since, there were not enough funds to pay these developers.

[…] we work on raising money and using money to pay for developers but unlike ICOs or other projects we just don’t have millions sitting from selling our ICO tokens to fund these developers. So, yeah I think projects that do that it’s kind of needed […]”

However, Lee stated that for cryptocurrencies such as Bitcoin and Litecoin that really want to become decentralized money, there cannot be any centralized actions like using mining rewards to pay developers.

This was followed by Lee speaking about Litecoin’s vision and the coin’s use case. On this, Lee stated that the current vision was still “very similar” to the old one, seeing Litecoin as a complement to Bitcoin. He added that Litecoin’s raison d’être was not to replace Bitcoin, unlike some other coins that claim to be the better version of Bitcoin.

“[…] I think it’s trade-off. So, a lot of people don’t talk about the trade-offs people talk about how they have fees are cheaper […] people in support of Bitcoin Cash constantly talk about how Bitcoin Cash transaction fees are like a hundredth of that of Bitcoin but, you get what you pay for right […]”

He further added that Bitcoin’s “security was more than hundred times” that of Bitcoin Cash, irrespective of the hash rate being more or not. Lee remarked that one cannot “attack Bitcoin,” whereas Bitcoin Cash could be “eas[ily] be attacked,” adding that this factor was very important and also the reason for cheaper fees.



“[…] same for Litecoin alright. Litecoin is cheaper and the security is less than Bitcoin […] so people who actually move lots of money they would want to use Bitcoin and I think that’s fine like Litecoin can compliment Bitcoin perfectly fine […]”

Lee stated that this was the reason he agreed with Lightning Network, arguing that it was good for both Bitcoin and Litecoin. He stated that Lightning not only helps them scale, but also enables cross-chain atomic swaps, allowing people to swap two different coins instantly and easily in a decentralized manner.





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending