Ambitious Plans for a New Exchange
Bitcoin.com, under the leadership of CEO Roger Ver, is gearing up to launch its own cryptocurrency exchange. In a recent interview with Bloomberg, Ver revealed that the new platform will be integrated into the Bitcoin.com site, with expectations of attracting thousands of new users daily thanks to the website’s existing services and traffic.
Building It In-House or Partnering Up?
Ver is weighing the options of either developing the exchange internally or partnering with an established player in the market. He expressed optimism about building the exchange in-house, emphasizing cost efficiency and tailored features. However, he acknowledged that partnering with an already successful exchange could provide crucial security and experience.
“If we build it ourselves, we can do it really, really cheap, and we get exactly what we want. But we don’t have the security of a battle-tested exchange that’s been around for a while.”
Bitcoin Cash Takes the Lead
In a strategic move, the new exchange will use Bitcoin Cash (BCH) as its base currency. Ver asserts that this will enhance BCH adoption. He has been vocal about his belief that Bitcoin Cash aligns more closely with the visionary goals outlined by Satoshi Nakamoto, which he states is to serve as “P2P Electronic Cash for the world.”
Challenges and Misconceptions
Despite its ambitious plans, Bitcoin.com has faced hurdles. In mid-2018, the platform was removed from CoinMarketCap due to accusations of misleading users regarding Bitcoin versus Bitcoin Cash. The crypto landscape is fraught with confusion, and these allegations have not helped the site’s reputation.
Community Resilience and Tests
The Bitcoin Cash community conducted a stress test to showcase its network’s scalability. This involved processing over 2.1 million transactions without causing a spike in fees, illustrating BCH’s capacity to handle larger volumes. Community efforts aim to challenge skeptics amid concerns around BCH’s waning adoption in global payments.
Vision for Economic Freedom
At the recent Delta Summit in Malta, Ver reiterated his commitment to the potential of cryptocurrencies, asserting they are key to global economic freedom. He emphasized that he remains steadfast in advocating for digital currencies while quietly working to remedy any misconceptions surrounding BCH’s capabilities.
