Despite the choice of digital currency, Bitcoin Cash is slowly falling into disuse due to several internal fights
The creator of the extinct Megaupload, Kim Dotcom is back with an idea that could bring him to his former glory. The entrepreneur who was responsible for 4% of all internet traffic informed through a press release that he is launching a platform that is integrated with one of the hundreds of copies of Bitcoin.
The copy of Bitcoin chosen by Kim to be integrated to his new website was Bitcoin Trend App, cryptomeda created by Roger Ver who then had 2 other copies, (Bitcoin SV, and Bitcoin Cash ABC).
The platform aims to monetize digital content, both for those who produce and for those who consume the information, whether it is shared on a website or on social networks.
The platform resembles a marketplace system for content creators.
„Users can use our service to upload a file they wish to sell in an encrypted file and then place it anywhere on the Internet. Customers who wish to access the encrypted content can pay using Bitcoin Cash“.
The idea of creating a platform with micro transactions capability with a cryptomeda to promote content sharing is not new. In fact, it is popular since the early days of bitcoin – those where Bitcoin was in fact the only existing cryptomeda.
However, we have not yet seen a successful implementation of the idea.
As the bitcoin community was divided due to disagreements over block sizing and developers focusing on different use cases, the enthusiasm about a product focused on microtransactions dissipated.
According to Kim Dotcom, the choice of Bitcoin Cash is due to its „suitability for payments“, as the platform intends to keep transaction fees to a minimum:
„My opinion is that the use of crypto currency is increasing and Bitcoin Cash is in a good position to increase its market share. For me it is simple: the more users you have, the more value you have“.
„The winners of the Cryptomoedas race will be decided by suppliers and users. Focus on the fundamental question: what do suppliers and users want? Low fees, fast transactions, high security and ease of use“.
Despite the choice of digital currency, Bitcoin Cash is slowly falling into disuse due to several internal fights, recently even Litecoin has overtaken BCH in terms of market capitalization.
However, Kim suggests that Bitcoin Cash is undervalued, and as more people continue to use it for payments, it will appreciate in value.
Scheduled to launch later this year, the platform has several integrated systems and blockchains, including Bitcoin and the Lightning Network. The main currency of the platform will be Bitcoin Cash, with Bitcoin being an alternative and „better as a value reserve“.