NChain together with CoinGeekm made it known to the public that the mining pools Bitcoin.com and ViaBTC are going to join and provide support for the initiative of “Miner’s Choice.” With the aim of building a more competitive market platform that offers lower transaction and mining fees.
The Earlier Statement of the Mining Pools
“Users will have a wide range of options on how much (if there would be anything) they want to pay for carrying out Bitcoin Cash transactions, depending on how fast they want the transaction to be carried out. If users want the transaction to be carried out instantly, they have a range of options to choose small transaction fees offered by miners.
But if the user has the patience, and is willing to wait for about thirty to forty minutes for their transaction to be confirmed and executed, then the user can opt for zero transaction fees.”
The Mining Pools
ViaBTC is the second largest mining pool of Bitcoin Cash (BCH) with a 12.7 percent share of the overall hash-rate of the Bitcoin Cash platform. They do not believe in charging high fees for transactions. The Chief Operating Officer of ViaBTC – Sara Ouyang stated said that the major reason why they chose Bitcoin Cash BCH over Bitcoin (BTC) is that it executes transactions much faster with low transaction fees.
Sara Ouyang also said that Bitcoin Cash offers better performance when it comes to usability. Bitcoin.com, on the other hand, has 6.9 percent and 7.7 percent of the total hash-rate of the Bitcoin Cash platform as confirmed by Roger Ver.
Bitcoin Cash (BCH) has taken advantage of the model of low transaction fees to make sure there is zero abuse in the network, resulting in the growth and development of micro-transactions in businesses. Nevertheless, it hasn’t been verified as an announcement.