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Where To Buy Bitcoin Cash
Today we will tell you where and how you can buy Bitcoin Cash. Using a simple step by step instructions to purchase a cryptocurrency is not difficult. We’ll tell you about the history of creation, differences from other coins and all other details.
What is Bitcoin Cash?
The definition on the official site reads: “Bitcoin Cash is peer-to-peer electronic money for the Internet. He is completely decentralized, without a central bank, and he doesn’t need any trusted third parties to work. ”
Have you noticed the emphasis on the phrase “peer-to-peer electronic money”? This is done on purpose, because the very existence of Bitcoin Cash depends solely on the conduct of a large number of transactions, as Jimmy Song notes in his Medium article.
Bitcoin Cash (BCH) is in many ways similar to Bitcoin, but has several distinguishing features:
- Block size – 8 MB.
- No Segwit support.
- There is no “replace by fee” function.
There is protection against replay attacks and destruction (also known as 51% of the problem). Offers a way to correct the PoW complexity faster than for the usual interval of increasing complexity of finding a block.
Since BCH is the result of a hard fork, anyone who had a BTC received the same amount of coins in BCH. Provided that he did not keep BTC on the accounts of the exchanges and controlled the private keys of the account during the activation of the hard fork. So now let’s look at some interesting Bitcoin Cash features.
What is a “replay” attack?
The main feature of Bitcoin Cash is how it circumvents the biggest problem that any cryptocurrency can face after a similar fork – the “replay” attack.
This is such a data transfer, which is intentionally repeated or delayed. In the context of the blockchain’s work, it looks like this. Someone commits a transaction that occurs on one blockchain and then intentionally repeats it on another blockchain. For example, Masha sends 5 BTC to Petya, as a result of “replay” attacks, she also sends him 5 BCH, although she was not going to do that.
How to buy Bitcoin Cash
If you decide to purchase Bitcoin Cash, which is designated on the exchanges as BCH, you probably noticed its rapid growth and advantages over conventional Bitcoin.
Choosing a wallet for Bitcoin Cash
In order to buy a cryptocurrency, you need to create a Bitcoin Cash wallet. The list of wallets is quite large, it is available on the official website BitcoinCash.org.
So, we have established a wallet and have prepared the amount we want to invest in the purchase of Bitcoin Cash.
Please note: you can buy BCH both for fiat currencies (dollars, euros), and for Bitcoin cryptocurrency. This cryptocurrency allows you to easily acquire various cryptocurrencies, even the smallest ones.
How to buy Bitcoin Cash on the stock exchange
If you are looking for a place where you can buy a bitcoin cache with a minimum commission, then buying on the exchange is what you need. Recall that the exchange is a platform for cryptocurrency trading.
Does Bitcoin Cash have a future?
In short, we do not know. We have no idea what the future of Bitcoin Cash will be, and we cannot even imagine its impact on BTC in the long run. We only know that this is the first time that anyone has successfully bitcoin while maintaining records of existing transactions. What we received as a result of this experiment is a very interesting experience, which gave a lot of lessons.
At the same time, the block size of 8 MB is definitely a very attractive aspect, and it is unclear how this will affect miners in the future. Can this solve all scalability problems? Will BCH ever overtake BTC and become the main Bitcoin? At the moment, all these questions are only assumptions. We can say with confidence that there is a lot of interesting things ahead of us.
Science and Blockchain –What’s the Connection?
Wait, did you say science? Why would science possibly need any assistance?
Well, it isn’t only about who wins the Noble Prize or what disruptive developments needs taking care of. It is much more than that.
Researchers across the globe don’t only have to solve worldly problems, they also have to deal with the threats that someone else might be credited for their years of hard work. Furthermore, there is also competition for funds. It isn’t every day that someone with a huge investment would invest their finances on some novice researchers. Mostly, the funding goes to researchers with the best track record and distinguished achievements, leaving many capable researchers with great ideas but zero investment.
Imagine this: A pool of highly-intelligent and creative young minds go unused and unheard. Without significant experience or a Ph.D. title before their names, many enthusiasts and researchers go unheard of despite their brilliant ideas to fix some of the most significant worldly issues.
This barrier makes it almost impossible for high spirited individuals to ever showcase their skills and expertise. Sorry to say but academic organizations have done little to nothing to encourage new researchers. This is why more and more researchers are now relying their hopes on the non-traditional agencies promising them exposure.
Will A Decentralized Approach Help The Clinical Neighborhood?
Yes, and not just scientifically.
It isn’t only science that faces this dilemma, even STEM fields suffer from the same. There are always cases of duplication and fragmentation across disparate groups. But there is a solution.
Matryx is a decentralized platform featuring distributed partnerships at different levels of innovation.
Can Matryx really help advance innovation?
Again, yes! Here’s how.
- For novices: Beginners at research won’t have to rely on their Ph.D. degrees to have their idea a voice. They will no longer be shunned or asked to offer assistance in somebody else’s project until they gain some experience.
- For Professionals: Experts won’t have to go door to door or sit through countless interviews to get funding for their task. They also won’t have to prove from time to time that they have the resources to begin a project or persuade others that their research is worth their time and investment.
- For enthusiasts: Those who wish to conduct research merely out of passion and interest will have direct access to a number of issues that need solving. If they want, they can contribute their time, mind and resources on projects they find interesting.
It is only because of platforms like Matryx that boost the rate of innovation and development by lowering entry and participation barriers.
How Does It Work?
Matryx uses VR and blockchain.
It uses (blockchain) smart contract systems to create rewards and incentivize options. People post their problems, add a bounty for anyone wishing to resolve it. The results are then shared and the individual who solved it gets the reward for it. All the submissions then go to the library and buyers can later purchase them via MTX tokens. Making use of tokens allows Matryx to continue supporting upgrades, update functions and enhance current services as per user demands.
Small contracts reduce the tension of compensating and tracking the contributors. When users compete for bounties, every competitor’s proposed solution is managed by contracts. Thus, the origin of the idea and whoever proposed it becomes traceable. This makes rewarding bounties fair and open.
How to how to plan an ICO
In the case of cryptocurrency assets, transaction data is stored in the blockchain. The data on each new transaction is recorded in a block that stores the data of the block preceding it, and so on. Thus, a chain of data blocks is created – hence the very name of the technology Blockchain. At the same time, it is almost impossible to make changes to the data already trapped in Blockchain, which makes the technology itself reliable and secure. All blocks are simultaneously stored on multiple computers connected to the blockchain network, that is, data is managed decentralized.
Formulation of the idea
At the initial stage, it is necessary to assess how appropriate the ICO is for the project. In case this is a completely new project that is at the idea stage, you need to decide what role decentralization and the token will play. The most popular attraction of funds for ICO among young technological startups with a global vision.
ICO is suitable for business in any sphere, it is important to develop such a concept of a project and a token that would solve global problems: most often investors come from different parts of the world, the crypto community as a whole is not tied to a specific territory. A token can be anything: a means of payment, a bonus and even alike. In gaming applications, for example, tokens can be earned as bonuses and used for in-game purchases.
Team selection
Today, popular blockchain platforms for creating smart contracts are Ethereum, Waves, Nxt, Bitshares, Nem. Ethereum remains the leading platform for the development of smart contracts for ICO, it is this blockchain that has the largest community and, accordingly, the most information in the public domain.
On the blockchain Ethereum, there is a popular KICKICO platform, where you can launch ICO as easily as a regular crowdfunding campaign. It is possible to hold a turnkey ICO on this site for 4% of the funds raised as a reward. Each of the blockchain platforms with the ability to create smart contracts has its own differences in the degree of openness: there are public and private blockchain networks. Creating smart contracts is also available for people with no programming skills: there are smart contract templates in the public domain, which only need to be replaced with a few lines.
The name of the token may or may not coincide with the name of the project. When choosing a name for a new token, care must be taken to ensure that its three-letter abbreviation does not coincide with existing tokens and altcoins. You can check this in the list of tokens on the Coin Market Cap.
Stages of fundraising for ICO
As a rule, ICO is carried out in several stages:
- offer
- closed sale of tokens (Private Sale)
- Pre-sale of tokens (Pre-ICO or Pre-Sale)
- the main sale of tokens (Main Sale)
At the stage of the offer, information about the planned ICO is posted on the bitcointalk.org forum in the altcoins section. The project team can thus receive feedback from future investors and refine the proposal. During the offer, the deadlines for the implementation of the idea are announced, White Paper is published, the necessary amount is set for this, the team declares Soft Cap, the minimum amount to collect, and the Hard Cap, the maximum that the project can collect.
A couple of years ago, when the era of the ICO was just beginning, the demand many times exceeded the supply. Companies collected the necessary amount within a few minutes, or even seconds – while the amounts could be tens of millions of dollars. Today, when ICOs are being conducted by hundreds of companies at the same time, fundraising is becoming a much more difficult task.
Why is interest in ICO not waning?
If we compare this method of financing with the classic venture capital investment, it is easy to note the advantages – both for startups and for investors. Startups do not need to share stocks or profits and, accordingly, lose control over the business. The benefits to the investor are also obvious. When he enters the capital of the company and receives its shares, it is impossible to get out of such an investment quickly. We can talk about the horizon of investment in 3-5 years. The token, in turn, provides the ability to quickly exit and quick turnover of funds.
Formula for success
How to interest the investor and sell him your token? To do this, a startup must meet a number of criteria. The first parameter is that the audience of tokens holders should intersect with the potential user base of the project. The ideal option is when 100% of token holders are projected users. Do not forget that ICO solves the problem of not only raising funds but also attracting users. ICO is an advertising campaign that is often the most prominent marketing event in a startup’s life. It is therefore very important in this short period to attract the maximum amount of the right audience.
The second factor is the ideological component of the project. A startup must use the blockchain, thereby developing the technology. The project needs to find new areas of use of the blockchain, demonstrate its solutions to the world and, as a result, stimulate the development of the industry as a whole. A token should not be invented just to raise money. Such a project will not be able to attract market apologists.
The third criterion, we would call investment security and consider this aspect from a legal point of view.
What is the future of ICO?
There are three areas in which the ICO market will develop. First, in the future, we will see how the release of security tokens will be regulated. There will be systems with the help of which it will be possible to trade security tokens without hindrance. Secondly, the ICO exit process will become increasingly difficult over time. In the future, I think, we will not see white papers, and investment memorandums will work instead. I suppose that, nevertheless, holding an ICO will never be as difficult as entering an IPO.
Another very important area is the development of the ICO market, in which tokens will be distributed free of charge. First of all, these ICOs will be aimed at attracting users. At the same time, the projects will receive profits after the public placement of tokens. In addition, during such ICO there will be no fact of sale and, as a result, there will be no risks – you just donate tokens.