Press Release

Chinese exchange Bitasia now supports zero confirmation of BCH transactions

Bitasia, China’s alternate has started accepting zero confirmation of BCH transactions to facilitate fast selling and buying. The trading company is among the first exchanges to enable this kind of transaction for cryptocurrency enthusiasts and traders to use it immediately.

The firm is a trading platform that enables trading of different digital coins including LTC, ETH, BCH, BTC, and ETC. On the 19th of March, the firm confirmed after some evaluation that they would implement zero confirmation of BCH transactions to the community. As such, retailers, exchanges and other firms will be ready for early adoption of the upgrade. The Bitcoin cash community is expected to view this transaction upgrade as a means to prevent double spends.

Earlier on, both Gavin Anderson and Tom Hardy had invented specific patches meant to prevent fraud in the new upgrade. Nonetheless, the Bitcoin cash creators have since eliminated the patches from the core codebase. After initiating a testing program in the Bitcoin cash community for zero-confirmation of BCH transactions in the previous weeks, they now believe that the transactions are protected.

This follows Mini-POS after they came up with a BCH point-f-sale server that supported the zero confirmation of BCH transactions. After it was introduced, it reduced the process time to around 15 seconds, where a display window shows the finish message.

In an appalling incident, a trader spent $2000 while trying to buy a $1000 worth gift on Cryptonize. The co-founder Arian Kuqi stated that he aimed at ensuring that everybody was convinced of the 0-conf’s safety. Cryptonize is an online shopping website that accepts Bitcoin cash payments and offers merchants a platform where they can buy and sell their products to the BCH community while at no risk of volatility.

What could be the impact of Bitasia adding the o-conf transaction on BCH’s market in the country?

coinmag

Having contributed to many leading financial blogs, Ken's love for cryptocurrencies and the blockchain technology has him on high alert on all price developments within the cryptocurrency sphere.

Comments are off this post!