The leading proponent of Bitcoin Cash [BCH], Roger Ver, announces $200 million funding at a Blockchain meet-up in London. It will be used for investing in business building on top of Bitcoin Cash.
The business model of Bitcoin.com led by Roger Ver is now focusing on competing with Ethereum and other smart contract platforms.
Roger Ver Continues to Attack Bitcoin [BTC]
In a press release from the domain ‘Bitcoin.com,’ which is owned by Roger Ver, an array of possibilities on BTC and BCH were highlighted. It notes,
The two Bitcoins – Core and Cash – have a number of advantages for projects seeking to build upon them, over and above security.
However, it stretches to add weight to the ease of developing over Bitcoin Cash [BCH]. It is offering to issue of tokens on BCH using the Simple Ledger Protocol (SLP).
As reported earlier on Coingape, developer teams also working on protocols standards for implementation of smart contracts on BTC. Leading Bitcoin supporters, Tone Vays and Jimmy Song have also discussed the future of smart contracts on Bitcoin itself.
Issuing tokens usually falls in the realm of platforms like Ethereum, NEO, EOS and so on. Nevertheless, it argues that Bitcoin’s PoW provides more security than others.
The origin of Bitcoin Cash [BCH] was from a controversial Hard Fork that caused Havoc in the markets. Ver who has for long supported the split Cash version told the audience at the meet-up.
“I used to be promoting BTC, today I am promoting Bitcoin [BCH] Cash. And tomorrow if something even better than Bitcoin Cash [BCH] comes along to bring more economic freedom to the world, I’ll be right up here promoting that.”
Furthermore, he made various other remarks against the supporters of Bitcoin mocking and imitating them as he went along.
Which is More Secure?
While Bitcoin Cash [BCH] offers large-sized blocks, Bitcoin SV [BSV] provides even larger sized blocks. All seem to argue that it will never be enough.
However, things that secure the PoW network are the nodes and miners. The total hash rate of BCH is significantly smaller than that of Bitcoin [BTC]. Currently, the total hash rate of BCH is only 3.2% compared to that of Bitcoin.
However, Roger Ver continues to present the case of bitcoin’s use as a medium of exchange. He claims,
There are significantly more physical spaces accepting Bitcoin Cash [BCH] than there are today accepting the BTC version.
Now, with SLP and a $200 million dollar start-up fund, Ver has is looking to renew his artillery for a larger share in the market. Along with payments and SoV (Store of Value), he is focusing on smart contract development as well.
The price of Bitcoin Cash [BCH] at 3: 45 hours UTC on 20th November 2019 is $242.50.
Do you Bitcoin Cash [BCH]’s market presence and relevance could increase riding on smart contracts? Please share your views with us.
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com