Bitcoin, Crypto currency, Blockchain

Bitcoin Cash: With Miner’s Choice against transaction fees

bd6473b6fe09170657b8bddb487327d3 - Bitcoin Cash: With Miner's Choice against transaction fees

Miner’s Choice is the Initiative of a part of the Community at Bitcoin Cash. With the requirement, the Dust-Limit transactions (in part) to abolish, to make the Community well in the area of micro-transactions and in the face of competition more attractive.

To high fees and slow transactions. This is especially an accusation that has to be the leading cryptocurrency by market capitalization for Bitcoins. The keyword here is scalability – or the lack thereof. But that crypto-currencies can be used for the applications to be attractive, you need to change, especially the transaction fees. Wants to adopt now a part of the Bitcoin-to-Cash Community with the Miner’s Choice initiative.

To be exact, calls for a part of the Bitcoin-Cash-Miner, the Dust-Limit repeal. You also want to allow a certain number of free transactions per Block. This BCH-Dust-Limit sets a minimum size for transactions in blocks. Currently, this Dust-Limit of Bitcoin Cash 546 Satoshis (0.00000546 BCH) is a current Bitcoin-to-Cash exchange rate so a fraction of a cent. Apparently against Bitcoin withdraw, announced CoinGeek and nChain to accept in the future, transactions in the size of a Satoshi. So, the two Mining companies decided that they would record in the future (so far unspecified) number of free transactions in their Blocks.

Miner’s Choice – the rescue for Bitcoin Cash?

It could protect argued that the transaction be fee – even a small one, the Blockchain before acute constipation, finally, the transaction prevent charges spammers, pursue their Hobby. However, nChain, and CoinGeek justify their decision on the fact that you want to do with your action in the future, Bitcoin to Cash for micro transactions attractive. In addition, you want to ensure more justice in the Bitcoin-to-Cash-municipality of:

“Users are going to have an extended choice of how much (and whether) you want to pay for BCH-transactions, depending on what speed you want. If a user wishes for an immediate transaction, they can select from a selection of small fees. If a user is willing to wait 30-40 minutes on his transaction, he can decide the fees.“

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