Oh my God! The number of unconfirmed transactions on the whole network has exceeded 10,000 again. Can Bitcoin be used for payment?
In the currency market, among the top ten currencies in the world's total market capitalization, the cryptocurrency with payment as the main function accounts for the majority. These currencies are all somewhat similar to the point-to-point payment currency concept in Nakamoto's papers. Because the original intention of the cryptocurrency was to solve some problems in traditional currency circulation and traditional payment. No matter how good other cryptocurrency technologies are, Bitcoin has always occupied the position of the cryptocurrency leader. But with the frequent problems of Bitcoin, how long will its first-mover advantage last? The problem of excessive transaction fees and long waiting times caused by bitcoin transaction congestion has been a long time, and the core development team has made some efforts to this end, such as LN+SW (Lightning Network + Isolation) that we can often hear. Verification), the solution is there, but the problem has always existed. In recent days, the number of unconfirmed transactions in Bitcoin has reached a peak again. According to the data of the blockchain browser btc.bom, the whole bitcoin The number of unconfirmed transactions in the network was 12,134, breaking through 10,000. Unconfirmed transactions increase, and the waiting time required increases, and some even need to wait for more than 12 hours. The current best handling fee has also increased to 0.0011 BTC/kVB (kVB can be understood as KB). A similar situation occurs during the peak period of Bitcoin transactions. Such high waiting time and handling fees make it difficult for Bitcoin to be used for ordinary payments, only for investment and stored value. Bitcoin is a virtual item that has no value in itself. It relies on constant transactions, expands its holdings, and has a status through today. Once Bitcoin circulation is reduced, it is still unknown whether Bitcoin can be kept at all times. The solution LN+SW mentioned above was proposed by Blockstream, whose shareholders are the core development group of Bitcoin, and LN (Lightning Network) is a lightning hub outside the Bitcoin main chain. A centralized node handles transactions, and Blockstream can charge fees through node transactions, so this program has been criticized. For example, economist Frances Coppola satiated yesterday that Blockstream has just transformed the bank's lending market. However, bitcoin cash (BCH) after Bitcoin expansion seems to be more in line with the definition of payment. And Bitcoin cash has been upgraded with the latest hard fork expansion (8MB to 32MB), once again upgraded the Bitcoin cash network, can accommodate more transactions for Bitcoin cash and develop more applications in the BCH network. Ready. After the upgrade, the BCH, because the various advantages were amplified again, naturally attracted the support of some merchants and infrastructure providers. This week, Andrew Lee, the CEO of cryptocurrency wallet Purse, announced on Twitter that the company will no longer use Bitcoin to pay employees' salaries and will use BCH instead. Andrew Lee believes that although the company has used Bitcoin as a salary to pay employees since 2014, the company switched to BCH in order to reduce the unnecessary losses caused by the bitcoin fee during the salary payment process. This week, there are also some websites, such as sports betting website sportbook.com and online shopping company Amazon, which also announced that they will accept or will accept BCH for payment shopping. Not only online stores, Marco Coino lists more than 100 physical stores that accept BCH payments worldwide. P3.5X6 Automotive Connector P3.5X6 Automotive ShenZhen Antenk Electronics Co,Ltd , https://www.atkconnectors.com
