A recent vlog post by Bitcoin.com founder, Roger Ver, was put up on the website explaining the current and future prospects of the Bitcoin Cash blockchain. The well-known supporter of Bitcoin Cash was adamant that BCH remains the best and most widespread cryptocurrency in providing a transaction medium for daily transaction activities.
Ver stated in the blog various uses of the Bitcoin Cash network including providing merchants, retailers and customers a cheap and instant way of payment. First, Ver pointed out the recent addition of BCH and XRP to Kraken exchange for margin trading. The move however limits users from opening margin positions on their BCH and XRP balances as they do not represent collateral assets on the exchange.
The lack of margin trading on BCH is an area Kraken exchange reduces the overall trade volumes of BCH, but the addition of the coin to Kraken shows a step towards the right direction.
Furthermore, Ver commented on the increase in adoption rates across the world, specifically touching on China’s soar in adoption rates in the past year. A new report from China shows that over 14% of the total population of China owns cryptocurrencies due to the improved marketing in the country. Roger said the strict regulations placed on ICOs by the Chinese government will not swindle the massive growth rate of digital assets in the country.
In another topic of discussion, the BCH proponent touched on the subject of Proof of Keys saying,
“The concept of Proof of Keys is to keep the private keys away from exchanges and in private wallets. This was majorly done because some shady exchanges do not have the required liquidity within themselves to warrant a good user return.”
In praise of the fourth largest coin in terms of market capitalization, Ver termed BCH as the most used coin in real use cases. While most investors commented on the issue saying Bitcoin beat BCH, research shows Ver’s statement is true based on the ratio between number of transactions on exchanges to the number of transactions carried out elsewhere.
“We don’t mind any cryptocurrency that works to increase the financial freedom in the ecosystem. The only thing that the people need to curb is the sheer amount of speculations spiraling in the space.” – Roger Ver.