The hash war between Bitcoin SV and Bitcoin ABC is far from over. Bitcoin SV (BSV) is continuing to develop the blockchain in accordance with what cryptocurrency was meant to be—a peer-to-peer electronic cash—in an effort to ensure that crypto fulfills its reason for existence. To that end, preparations are being made that will allow the network to handle more transactions than any other cryptocurrency.
Dr. Craig Wright stated in a Medium post two days ago that BSV will be able to process as much as 1 terabyte (TB) of transactions within three years. This volume is imperative to allow a blockchain to handle the number of transactions that can rival other types of payments, including PayPal and credit card processors.
Currently, BSV blocks are limited to 64 megabytes (MB). This is going to increase to 512MB in six months and, within a year, will be as large as 2 gigabytes (GB).
Wright also asserts that miners will be able to make substantial returns within six months because of the scaling endeavors. He explained, “Bitcoin as SV will have miners earning over $8,000 a block based on use alone. That equates to $640 a Bitcoin on exchanges, and we have not factored in the gambling price of Bitcoin, just what miners will earn as a service.”
Miners should get behind BSV now to take advantage of the mining capabilities. As Wright points out, “With the Teranode project nChain will be scaling Bitcoin SV to handle over 1.0 TB within the next 3 years (aiming for 2) and growing sizes from there. At that level, miners will earn over $600,000 for each Terabyte block, and this is every 10 minutes on average.”
The crypto pioneer and chief scientist for nChain added that, within two to three years, BSV will be processing 6.5 million transactions a second. This is “Visa, MasterCard, banking in SWIFT, and ALL global currencies (not just crypto) in under 15% of a block.”
BCHSV, the cryptocurrency that was created to support the hard fork of Bitcoin Cash, has seen substantial gains over the past week. After reaching a low of around $38 on November 22, it is now trading at $103.79, according to CoinMarketCap, at the time of this writing. On the other hand, BCHABC, which represented the other half of the hash war, continues to fall. According to the latest data from CoinMarketCap, its value has dropped over 20% and continues to decline.
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Today, the Bitcoin Cash (BCH) network goes through a protocol upgrade, and miners will begin using their hash power to vote between two competing implementations: Bitcoin SV, which seeks to restore the original Bitcoin protocol, and Bitcoin ABC, the prior leading implementation. One area of disagreement is that Bitcoin ABC is adding a new opcode not contained in the original Satoshi protocol: OP_CHECKDATASIG (or OP_DATASIGVERIFY) (we’ll call it OP_DSV for short). The Bitcoin Unlimited group also supports adding OP_DSV. Bitcoin SV opposes adding any new non-Satoshi op_codes, believing that the original Bitcoin protocol has everything it needs to enable development on top of it.
We also oppose OP_DSV for another reason: it presents legal risk. At nChain, we talk consistently about the need to build Bitcoin BCH such that it can operate in the real world: to meet real business needs, to be used by real people, and to comply with real laws. For some time, nChain’s Chief Scientist Craig Wright has voiced legal warnings that adding OP_DSV will knowingly introduce illegal transactions into the BCH blockchain. As a former technology and intellectual property lawyer (for 21 years in the U.S.), I want to add my thoughts to this important conversation about OP_DSV. I express the issue somewhat differently than Craig, but my conclusion is similar to his: as it has been proposed for usage, OP_DSV presents legal risks for the developers advocating it and any application using it for problematic purposes.
OP_DSV Proponents Identify Illegal Use Cases
OP_DSV is meant to enable usage of oracles to validate external information and allow an automated smart contract to operate. As one of its proponents, Emil Oldenberg, CTO of Bitcoin.com, describes it:
The new opcode verifies a message, returns true or false if the message is signed by the pubkey stated. This enables us to write something commonly referred to as an “oracle”. An oracle is a third party service that can be used as an authority for facts, statistics and data.
Like any technology feature, op codes can be used for both lawful and non-lawful purposes. The problem for OP_DSV is that its key proponents vocally proclaim uses cases that are, at best, legally problematic, and at worst, clearly illegal. This makes it apparent up front that code developers and companies which then use DSV transactions for those problematic purposes know or “reasonably foresee” that OP_DSV can be used for illegal activity.
Take for example the blog post written by Bitcoin.com’s CTO Emil Oldenburg about the new op code. Emil says OP_DSV serves the explicit purpose of both enabling and facilitating gambling applications, such as “on-chain bets” or “wagers” and “escrow services” – in other words, facilitating the exchange of tokens or financial assets without any actual exchange acting as the regulated approved authority. Indeed, what he describes is a marketplace of bets without the actual financial assets being traded — which falls directly in the U.S. Supreme Court’s classic definition from 1906 of an illegal bucket shop:
“An establishment, nominally for the transaction of a stock exchange business, or business of similar character, but really for the registration of bets, or wagers, usually for small amounts, on the rise or fall of the prices of stocks, grain, oil, etc., there being no transfer or delivery of the stock or commodities nominally dealt in.”
(Gatewood v. North Carolina, 203 U.S. 531, 536 (1906).) Bucket shops are illegal in the U.S. (and in other countries). In fact, just this July, the CFTC obtained a $3 million judgment against InTrade, an Irish prediction market for trading binary options – bets on commodity prices – in violation of a 2005 cease and desist order.
Bucket shops operating specifically in the blockchain world have also been the subject of legal enforcement action. Sand Hill Exchange was a blockchain-based bucket shop launched in 2014 as a fantasy trading site, allowing you to bet on the eventual market price of start-up companies. Although it shut down by April 2015, the SEC obtained an administrative order against its founders and issued a $20,000 fine.
Yet, even though it is quite clear bucket shops are illegal, we have Bitcoin.com’s CTO (one of the key proponents of OP_DSV) explaining a use case of the opcode that can easily be construed as an illegal bucket shop. That is a problem for a company or person who later uses OP_DSV to operate exactly that type of bucket-shop marketplace or transaction.
Even worse, in a recent video statement, Bitcoin.com’s CEO Roger Ver suggests that the Bitcoin Cash blockchain can be used to facilitate transactions for the purchase of drugs, and any type of transactions for that matter, saying that the blockchain allows for “permission-less use. You don’t need permission to do whatever the hell you want with it. If you want to gamble on the Internet, that’s just fine too. If you want to buy drugs on the Internet, that’s just fine too.” We fear that is the ultimate goal—decentralized marketplaces where people can buy anything, even items illegal in their jurisdictions—which some of OP_DSV’s vocal supporters want to achieve. We of course support everyone’s right to their own opinion, and take no position on how and whether governments should regulate gambling, drugs, or anything else. But countries have established laws criminalizing certain types of goods and activity, and those laws govern the real world in which we need Bitcoin to grow.
Legal Liability for Third Party Use of Code
So what if OP_DSV can be used for illegal purposes? You may be asking how people working or operating on the BCH network can be at risk if they did not themselves conduct an illegal DSV transaction?
My concerns about legal risk are not hypothetical. U.S. government agencies have made clear that legal responsibility can even extend in some circumstances to developers who create and release code that is illegally used by others. Just last month, U.S. Commodity Futures Trading Commission commissioner Brian Quintenz gave a speech about how core developers and users of public blockchains generally should not be held legally responsible for unlawful activity that occurs on that blockchain. However, he acknowledged there is a lack of definitive guidance in the law, and proposed the appropriate liability standard for code developers to be whether “code developers could reasonably foresee, at the time they created the code, that it would likely be used by U.S. persons in a manner violative of CFTC regulations.”
It may sound surprising and scary for developers to have legal exposure for how other people use their code, but it’s the real world of how government agencies are prepared to think. For example, Augur has been under scrutiny for some time. Augur is a decentralized prediction-market protocol built on Ethereum; some characterize it as an illegal “bucket shop” or prediction market. When asked about Augur and the legal responsibility of its creators for what users do on the platform, CFTC spokeswoman Erica Elliott Richardson said in an email reply:
“[…] I can say generally that offering or facilitating a product or activity by way of releasing code onto a blockchain does not absolve any entity or individual from complying with pertinent laws or CFTC regulations.”
Recently, the U.S. Securities & Exchange Commission took concrete action which makes clear that operators of a decentralized service can in fact be liable for illegal activity committed by others on their network. The SEC charged EtherDelta, a supposed decentralized token exchange, and its founder with operating an unregistered securities exchange. It announced a settlement for EtherDelta’s founder to pay $388,000 in penalties, disgorgement, and interest. This case is seen as a warning sign to other decentralized exchanges. As Andrew Hinkes, an adjunct professor at the New York University School of Law, has most recently observed regarding the EtherDelta case:
“Just because you make it and then it gets operated by a decentralised network of others doesn’t mean that any prospective responsibility or liability is gone. It’s just possibly relocated.”
While many people may disagree with the legal standard proposed by the CFTC and the SEC case against EtherDelta, the message from these events is clear: even if you create or operate code and applications for a decentralized or P2P network, there are circumstances in which you can be liable for enabling or contributing to illegal activities of people who use that code or application. This includes code developers, if they can “reasonably foresee” their code is likely to be used for illegal purposes – at least if the CFTC Commissioner’s view is adopted as a legal standard. This could potentially also include other participants in the network, if their actions are reasonably foreseeable as contributing to illegal activity.
Outside of the cryptocurrency world, the legal system has witnessed many cases where computer programmers and technology providers have been criminally prosecuted or civilly sued because someone else illegally used their code or technology.
1. A Latvian computer programmer was sentenced to 14 years in prison by a Virginia federal court for designing Scan4You. That program was connected to the 2013 credit-card information hack of the Target retail store chain. The programmer argued the software could be used for lawful purposes, and said he should be held responsible for when it was used illegally. The program allowed hackers to see if anti-virus programmes would identify their hacking software as malicious, who then packaged it into malware kits sold to cybercriminals. The court rejected the defendant’s theory that he should not be held liable because “all online businesses have legitimate and illegitimate users,” holding that such a theory does not apply in criminal cases like this one because, as he told the defendant, “There’s zero chance that you didn’t know the harm being done by the malware hackers used your service to perfect.”
2. An Arkansas software developer pleaded guilty for developing, marketing, and distributing products used by cybercriminals, though he claimed it was designed for legal purposes. Additional articles on the same case can be found here and here.
3. A 21-year old Kentucky developer created and sold a “remote access trojan,” claiming it was intended as a legitimate tool for system administrators, before later admitting in a plea agreement that he was aware some customers used the software to control others’ computers without their knowledge or permission.
4. The motion picture industry has successfully filed many lawsuits against file-sharing sites that use P2P software to facilitate illegal copyright infringement. The Betamax defense, as it came to be known was established in Sony Corporation of America v. Universal City Studios Inc., 464 U.S. 417 (1987); it stands for the proposition that the distributor of a technology product cannot be found liable for infringement by users if the product has “substantial non-infringing uses.” However, years later when presented with a case in the P2P context, Metro-Goldwyn-Mayer Studios Inc. v. Grokster Ltd., 545 U.S. 913 (2005), the U.S. Court Supreme Court held that while the Grokster service had substantial non-infringing uses, secondary liability for copyright infringement was possible given evidence that Grokster intentionally induced, encouraged, and had actual knowledge of direct copyright infringement on its platform.
Therefore, even if a technology can be used for non-infringing purposes, its provider and other operates can still have secondary liability for other people’s illegal of that technology. As a ComputerWorld sub-headline succinctly stated: “Companies that actively enable infringement can be held liable for sins of their users.”
Build Bitcoin for the Real World
Of course, these legal principles will evolve and may develop differently in the cryptocurrency world. And legal standards will vary from jurisdiction to jurisdiction. But the warning which everyone in the Bitcoin world should heed is this: do not advocate for technical features by identifying illegal use cases. You are just setting up legal risk for yourself, application providers, and other network participants who use your proposed feature.
At nChain, that’s why we always look at Bitcoin as more than a technical system. We do not propose technical features simply because they can replicate some feature developers envy on Ethereum or other blockchain projects. We do not propose technical changes because we feel like experimenting with Bitcoin. We carefully evaluate technical needs for Bitcoin’s growth to be sound, stable money and the global public blockchain of the future. But we always balance technical concepts with the economic, business, and legal impact.
That is why we support the Satoshi Vision and the Bitcoin SV implementation: a simpler approach to restore the original Bitcoin protocol, keep it stable, and allow it to massively scale. In order to achieve the Satoshi Vision – a world where big businesses and billions of people use Bitcoin - we need the BCH network to operate in the real world. Bitcoin must meet the needs of real businesses, real people, and real laws.
Jimmy Nguyen is CEO of the nChain Group. Before joining nChain, Jimmy had a 21-year career as an intellectual property and digital technology lawyer in the U.S., where he was a partner at three major law firms. In 2008, Lawdragon named him as one of the 500 Leading Lawyers in America.
nChain’s content analyst Sebastian Ploetzeneder contributed to this article.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post The Real World: Legal Risks of Adding OP_DATASIGVERIFY to the BCH Protocol appeared first on Coingeek.
This past September, a stress test of the Bitcoin BCH blockchain was held. The results were more satisfactory than many had expected, with 10 megabyte (MB) and 21MB blocks mined. By the end of the test, 2.1 million transactions were completed and Bitcoin BCH accounted for over 60% of the crypto traffic over the period the tests were conducted. In preparation of another stress test on November 17, CoinGeek has been running some minor stress tests and the results are impressive.
As seen in the CoinGeek mining chart below, a number of blocks measuring 32MB were mined. This is important, as it shows that CoinGeek’s mining efforts are more advanced than others, and that it is capable of routinely mining larger blocks.
(Click here for full-size graphic.)
Some will try to argue that large block mining is irrelevant because cryptocurrency has yet to make a significant penetration into the merchant ecosystem. However, this is a fallacy and the mentality of procrastinators who don’t understand the importance of having the system ready before it’s needed -not after. By developing the network now and looking toward the future, there won’t be a need to scramble at the last minute to introduce changes.
Everyone, at some point or another, has become frustrated in a shopping experience because the retailer wasn’t prepared for the response it received. Lack of preparation leads to delays in purchasing, delivery, loss of revenue and a generally poor customer experience. All of these can be avoided if the network is prepared ahead of time.
Being able to demonstrably prove that the Bitcoin BCH network is capable of massive amounts of simultaneous transactions will show the world that it is capable of leading the way toward wider acceptance of cryptocurrency for its original purpose – a peer-to-peer currency that is meant to give control back to the money holders.
CoinGeek’s test is a step toward showing the viability of its mining pool and the strength of its support team. While others are satisfied waiting around to see how the future plays out, CoinGeek is determined to not only be a part of the future, but to shape it, as well.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
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Is it possible that Jihan Wu, Roger Ver and others are hoping to criminalize the Bitcoin BCH blockchain through the DSV OP_Code? While it may seem like just a wild theory, Dr. Craig Wright, chief scientist of nChain, points out some interesting facts that are quite convincing.
Wright provides an analogy of the criminality of child porn. He demonstrates that a host who only publishes child pornography isn’t liable, unless they know they are hosting the content, intentionally or otherwise. He explains, “The protections granted to Freedom in hosting as a mere publisher vanishes as soon as they receive notification. If they receive a warning and do nothing, they lose all protection. A Site that has been taken offline and then proceeds to make the illegal data accessible again is guilty of a crime.”
DSV, or the OP_CHECKDATASIG, would introduce new parameters to the Bitcoin BCH blockchain that would allow Bitcoin to be used anonymously, as well as for criminal activity. It undermines the very concept of digital currency and jeopardizes the legitimacy of the Bitcoin BCH network as an alternative to fiat.
Bitcoin Core, when it was first developed, was meant to be a currency that favored privacy, but not anonymity. Cryptocurrency was never meant to be anonymous. The only way to have a viable digital currency that is accepted by regulators is if it adheres to certain legal guidelines – anonymity is not one of these.
As Wright puts it, “To throw out the legal protections is to give away the freedoms we have. The push to add constructs into Bitcoin that are designed solely for this is not just bad, it is immoral.” DSV will allow for completely anonymous transactions, undermining all of the work that has gone into creating a strong, valuable and global peer-to-peer digital currency.
A DSV transaction, by its own definition and nature, allows a user to knowingly and willingly conduct an illegal transaction. The recipient also becomes the receiver of illegal property. Since the transaction occurred over the Bitcoin BCH blockchain, the network has become a complicit partner.
Wright asserts, “Others may want to make Bitcoin “better” for criminals, terrorists and to help in it promoting Child Porn and violence.” If this is the goal of Ver and Wu, perhaps they should form their own cryptocurrency. Their actions are not only bad for Bitcoin BCH, but for society, as well.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post How DSV seeks to criminalize the Bitcoin BCH blockchain appeared first on Coingeek.
The U.S Supreme Court defines a bucket shop as “An establishment, nominally for the transaction of a stock exchange business, or business of similar character, but really for the registration of bets, or wagers, usually for small amounts, on the rise or fall of the prices of stocks, grain, oil, etc., there being no transfer or delivery of the stock or commodities nominally dealt in.” This sounds very similar to what can be found on the Augur prediction markets platform, where users can place wagers on everything from assassinations to World Cup events. They can also bet on the state of securities and commodity prices, which might not sit well with regulators per the Supreme Court’s position.
The same concern is being raised over the OP_CHECKDATASIG, or DSV, opcode for Bitcoin BCH. The opcode allows for the integration of a third-party oracle – one that exists outside of the blockchain - that can publish prices for use in wagers of any type, including on the movement of Bitcoin BCH. By virtue of being an experiment in gambling against a cryptocurrency, this could ultimately prove to be a loser with financial regulators.
Several high-profile individuals in the Bitcoin BCH community, including Bitmain founder and CEO Jihan Wu and Bitcoin.com’s Roger Ver, support the integration of new tools on the blockchain in the upcoming upgrade scheduled for a week from now. Among these is DSV, which leads many to wonder what they’re hoping to achieve. If DSV is developed as intended and the Bitcoin BCH turns into a free-for-all gambling platform, this will not sit well with regulators and could ultimately lead to the demise of the cryptocurrency.
DSV also has another dangerous characteristic. It would enable the network to be halted. This means that Bitcoin BCH would no longer be available on exchanges, it couldn’t be traded through wallets and it would stop being useful as a currency.
The Commodity Futures Trading Commission (CFTC) has already started to take a closer look at Augur and believes that it could be operating in violation of the Commodity Exchange Act in that the platform is not a designated contract market. While Augur has tried to distance itself from being seen as a prediction market, it obviously realizes that there’s a connection. It even has a wager listed on the site, “Will the Forecast Foundation face an enforcement action from the SEC or CFTC before Dec. 21, 2018 for hosting unregulated derivatives markets?” The Forecast Foundation is the group behind Augur’s protocol.
If the CFTC is willing to go after Augur for not being a registered contract market, what is to stop it, or any other regulatory body, from doing the same to Bitcoin BCH?
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post DSV – nothing more than a bucket shop? appeared first on Coingeek.
For the launch of their new City of London bar, Brewdog, the Scottish brewery and pub chain, wanted to let their customers pay with Bitcoin Cash.
So together with CoinGeek and wallet-provider Centbee, Brewdog helped their first guests to download a wallet and then gave them free Bitcoin Cash (BCH) to put in it and spend at the bar.
Not surprisingly, news of free money and free beer produced a queue that literally went round the block.
Here’s how a crowd from the City - and, as it turned out, from as far afield as Belgium - enjoyed their first experiences of crypto.
Want to know what BrewDog did to accept Bitcoin BCH? Join us at the CoinGeek Week Conference, and learn from the experts how merchants can benefit from Bitcoin BCH. Be part of the cryptocurrency revolution, buy your tickets now via Eventbrite!
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post Now you can buy beer with crypto, thanks to CoinGeek and friends appeared first on Coingeek.
The BrewDog Canary Wharf, the latest of BrewDog’s numerous bars scattered across the UK, will be accepting Bitcoin Cash (BCH) as payment, the company announced.
To make its launch on October 19 more exciting, the first 100 people at the 12 p.m. opening will be given BCH wallets, containing random amounts from £12-£100 ($16-$130).
“At BrewDog we have worked our entire lives to challenge perceptions and be bold and uncompromising; the developers and miners of cryptocurrency are exactly the same. Adopting alternative payment options for craft beer is a natural fit. And what better place to start subverting the norm in financial transactions than the heart of London’s financial docklands?” BrewDog’s blog post reads.
BrewDog is also looking at expanding its acceptance of BCH beyond just Canary Wharf. “[W]e hope to eventually roll out this way of paying into all of our UK BrewDog Bars,” it said. The menu selection includes “20 taps of super-fresh craft beer, takeaway bottle and can options, and our loaded menu of burgers, pizza and wings.”
To participate in the BCH wallet giveaway, all you need is to download a Bitcoin.com wallet app. “On top of this, any purchase of beer from the bar between Friday and Sunday October 21st (however you pay) will enter you into a raffle to win a wallet containing Bitcoin Cash to the tune of £500 ($650),” BrewDog said.
The bar has raised funds through its Equity for Punks program, where members are eligible for discounts and special offers, and are privy to the Annual General Mayhem party. The program is closing on October 15, but not after having attracted attention for the way it has “revolutionized small business finance” the past few years.
BrewDog said, “The people who have invested in us and become Equity Punks have shown the city slickers what can be achieved with taking charge of something you believe in. Cryptocurrency is exactly the same.”
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post New BrewDog branch accepts Bitcoin BCH appeared first on Coingeek.
Hardware crypto wallet Trezor has rolled out new features that enable users to buy and exchange cryptocurrencies within their beta wallet—without the risks of leaving funds on an exchange.
The Trezor wallet, which aims to provide secure remote storage for cryptocurrencies, was the first hardware wallet of its kind, marrying the security benefits of cold storage with the functionality of a hot wallet. Now, with the addition of a new ‘Exchanges’ section, the wallet allows users to engage in transactions in and between some 11 different cryptocurrencies, including Bitcoin BCH, along with XRP and BTC.
Feature release: Our beta servers now allow you to exchange cryptocurrencies directly in the Trezor Wallet interface. Feel free to test this awesome feature and make sure to leave your feedback below!https://t.co/p9edjfUF4p pic.twitter.com/QePd0Lqkcu
— Trezor (@Trezor) September 19, 2018
As well as storing cryptocurrency securely, users will now be able to convert their holdings into other cryptocurrencies within the wallet itself.
Announcing the move on Twitter, the company confirmed it wouldn’t be running KYC procedures on users transacting through the wallet. According to the Trezor team, “Just to clarify, we won’t run KYC — The exchanges might. (We do not offer exchange services, they all go through third parties.)…It’s an optional service. If KYC will be enforced by those services, user will know it and can refuse to continue — Decentralized exchanges are, of course, being evaluated.”
The new exchange section on the wallet, accessible from the new ‘Exchanges’ tab from the main wallet interface, provides easy access to buying crypto on exchanges. It also allows users to switch their crypto for another on the platform.
Amongst the exchanges supported are Coinmama, Changelly, Changenow, Coinswitch and Paybis. As well as Bitcoin BCH, users now also have access to a basket of cryptocurrencies covering ZEC, XRP, LTC, BTG, XMR, DASH, BTC, ETH, ETC and DOGE.
Crucially, the lack of KYC procedures distinguishes the platform from exchanges, particularly regulated exchanges which are responsible for enforcing KYC processes. This makes the Trezor roll out more accessible and convenient for those looking to buy and trade between cryptocurrencies.
The move has already been well received by Trezor customers, suggesting the added functionality is likely to prove a popular addition to the product.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
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