OpenBazaar to Add Bitcoin Cash and Zcash

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Bitcoin’s biggest, and only, eBay like decentralized market place, which has so far operated by solely accepting btc in payment, is to add support for Bitcoin Cash and Zcash.

Brian Hoffman, project lead of OpenBazaar and CEO at OB1, publicly stated earlier today:

“We currently have two groups working on other coin support for OpenBazaar, Zcash and Bitcoin Cash and constantly doing research. We aren’t sitting still.”

Hoffman further added that currently “volunteer work [is] not sponsored right now but the dedicated effort is coming shortly,” suggesting OB1 itself might put resources towards Bitcoin Cash support.

OpenBazaar screenshot.

The decentralized marketplace has numerous goods on offer that can be purchased only with bitcoin at this stage. However, btc’s fees have increased considerably recently, rising as high as $5 or more per transaction.

That has made it difficult for OpenBazzar to operate due to the uneconomical fees, which have intentionally been raised by Bitcoin Core developers as they say that bitcoin is not for buying coffee, that is, bitcoin is not for ordinary commerce.

Some bitcoiners chain-split the currency on August 1st to return its promise of as good as free and as good as instant peer-to-peer permissionless global transactions.

Bitcoin Cash was thus born with strong support of big blockers, which includes Hoffman who has vocally been arguing for bigger blocks in btc.

That, however, is not happening, with segwit2x cancelled yesterday, leaving as the only option for bitcoin supporters Bitcoin Cash, a currency which retains bitcoin’s network effects as anyone who had btc prior to August 1st has the same amount of BCH.

Bitcoin cash transaction levels.

The adoption of bitcoin cash has increased recently with 1,200 restaurants in Denmark accepting BCH for payments, while bitcoin.com’s CEO has now stated all company resources will be shifted towards Bitcoin Cash.

The currency may further attract developers, such as Gavin Andresen and Jeff Garzik, both of whom have been banished from the Bitcoin Core client despite being the most senior coders.

As such, Bitcoin Cash might rise to be a serious contender for the top spot in digital currencies, not least because its supporters actually promote its use as a currency.

 

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