CoinGeek & nChain Agree to Process Zero-Fee Bitcoin Cash (BCH) Transactions
CoinGeek and nChain Group announced a ‘Miner’s Choice’ initiative for Bitcoin Cash miners to lower their own minimums for mining fees and transactions that can be sent on the blockchain. The information has been announced on June the 5th and will have an important impact in the market.
At the same time, ViaBTC and Bitcoin.com have also agreed to join the initiative. At the moment, ViaBTC accounts for 12% of the BCH hasrhate. CoinGeek accounts for 7.3% and Bitcoin.com for 7.8%.
The main intention is to help spread the Bitcoin Cash network all over the world, allowing users to make microtransactions as small as 1 satoshi. This would remove the 546 satoshi dust limit that now it has. Moreover, miners would have to process an important number of zero-free transacciones in every block.
Clearly there may be an increased spam in the BCH network (that’s why there is a dust limit), but the intention is to allow individuals and companies to process microtransactions as they desire. Moreover, it will also hasten the development of the colored coins in BCH, that users are able to send at almost no cost.
Bitcoin Cash keeps expanding all over the world, and these developments show that there is a real interest in spreading its usability.
At the moment of writing Bitcoin Cash (BCH) is being traded around $1100 dollars and has a market capitalization of $19.11 billion dollars.