Tim Draper a Billionaire and venture capitalist has praised bitcoin cash after purchasing the coin. Emphasizing the ease of use as well as buying it, by doing so his followers will be encourage to do the same. Draper’s endorsement comes as the Bitcoin Cash (BCH) community braces for a fork instigated by Bitcoin ABC’s infrastructure funding proposal (IFP).
Tim Draper, despite the current split reports the billionaire, still praises BCH and gives accolades to Roger Ver for birthing this type of innovation.
Although Draper’s in is tweet does not really give a precise grounds for praise, it would appear his comments have been made within the context of the slow confirmations time and high network fees presently affecting other networks.
So far so good, bitcoin cash (BCH) seems to be immuned from the present challenges facing the Bitcoin (BTC) and Ethereum (ETH) networks— the unsustainably high transaction fees and slower confirmation times.
It is specifically this traits that tends to be propelling the increased use of BCH in crypto-friendly countries like Nigeria. BCH fees remain less than $0.01 at a time when bitcoin and ether are both north of $8 for the same value transaction.
This is why some of the platforms for crypto like Yellow Card, an exchange platform used by Nigerians for converting crypto bitcoin to local currency, discloses it is actively looking into adding BCH.
Cryptocurrencies have been gaining much grounds in the international remittances space for the reason of it fast and much cheaper than traditional sending channels. But, lately, the current slower confirmation speeds and high transaction speed are hurting bitcoin and ether.