Chinese Exchange Bitasia Now Supports 0-Confirmation BCH Transactions

Chinese Exchange Bitasia Now Supports 0-Confirmation BCH Transactions

Earlier this week the Chinese exchange Bitasia announced it started accepting zero-confirmation transactions for bitcoin cash (BCH) for instant trading. The trading platform is one of the first exchanges to enable zero-confirmation transactions so traders can use the platform as quickly as possible.

Also read:Qu?bec Premier: Were Not Really Interested in Bitcoin Mining


Chinese Exchange Bitasia Adds Zero-Confirmation Support for BCH Deposits

The Chinese exchange Bitasia is a trading platform that allows traders to swap a variety of cryptocurrencies including ETH, LTC, ETC, BTC, BCH, and more. This week the exchange detailed that after some contemplation the trading platform will support zero-confirmation transactions for the bitcoin cash network. A zero-confirmation transaction means that exchanges, merchants, and other businesses are willing to accept a digital currency before the first network confirmation. The general sentiment within the BTC community is that at least one confirmation is needed to prevent double spends.

However, a while ago the developers Gavin Andresen and Tom Harding created specific patches that prevents fraud from happening when zero-confirmation transactions take place. However, the bitcoin core (BTC) developers have removed those patches from the core codebase. Now bitcoin cash developers and the community, in general, believe that zero-confirmation transactions are completely safe and have started testing zero-confirms on the main network over the past few weeks.


Other BCH Businesses Testing and Challenging Zero-Confirm Skeptics

For instance, the Mini-POS device developers have implemented zero-confirmation transactions. Another example is the company Cryptonize.it who offered a challenge to someone who was willing to try a double spend on a $1,000 transaction. A person tried to double spend the BCH but failed and lost $2,000 trying to exploit the transaction.


The First Exchange to Implement Zero-Confirm Support

Now Bitasia is one of the first cryptocurrency trading platforms to add zero-confirmation support to the exchange.

After careful consideration, Bitasia will support the BCH zero confirmation (0-confirmation) arrival and instant trading, explains the Chinese exchange.

Bitasia focuses on security and value user experience For other currencies that use the Segwit mechanism, our current policy remains unchanged and the Segwit plan has not been launched.

Bitcoin cash supporters were thrilled to hear about Bitasia supporting zero-confirmation BCH transactions. However, a new website called Doublespend.cash, has recently published a list of all the double spends attempts against zero-confirmation BCH transactions. Bitcoin cash supporters are very skeptical of that websites data as most of the transactions have a fee set lower than the network relay minimum requirement. The reason for this is because transactions under 1 satoshi per byte are typically never propagatedthroughout the BCH clients. Due to this reasoning, most BCH proponents see the Doublespend.cash website as an attempt to spread FUD (fear, uncertainty, and doubt).

What do you think about Bitasia adding zero-confirmation support for BCH traders? Let us know in the comments below.

Images via Shutterstock, and Bitasia.

At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.

22.03.2018 / 22:39 126
Bitcoin Will Be Worlds Leading Currency in 10 Years: Square CEO Jack Dorsey Bitcoin Will Be Worlds Leading
One of Silicon Valleys most revered entrepreneurs is going all in on Bitcoin. Square CEO Jack Dorsey, who is in London this week promoting the
Bitcoin Price Technical Analysis for 03/21/2018  More Bullish Confirmation Bitcoin Price Technical Analysis for
Bitcoin Price Key Highlights Bitcoin price appears to have broken past a complex inverse head and shoulders pattern. This adds to the recent bullish
Japanese Firm Mikan to Launch Bitcoin Cash Wallet Yenom Japanese Firm Mikan to Launch Bitcoin
According to local reports the Japanese firm Mikan Co. Ltd., creator of the Mikan (??????) English language app has announced the beta-launch of a
Mini-POS Launches Zero Confirmation Bitcoin Cash Point-of-Sale Terminal Mini-POS Launches Zero Confirmation
Just recently a development team from the UK has created a bitcoin cash (BCH) point-of-sale server which allows brick and mortar merchants to accept
Chinese Politician Suggests a State Blockchain Assets Trading Platform Chinese Politician Suggests a State
Potentially bullish news from China: A high-ranking official has called for a national digital asset trading platform to be established. Chinese
PayPal Files Patent to Improve Cryptocurrency Transaction Times PayPal Files Patent to Improve
PayPal has filed a patent for a system designed to improve the speed of cryptocurrency payments. Documents filed with the US Patent and Trademark
Comments (0)
Add a comment
Comment on