The acceptance of BCH by dark web providers has increased significantly
According to Bitcoin.com, the number of vendors accepting Bitcoin Cash (BCH) on the Dream Market dark Web Market has been on the rise over the past few years, with 102,000 vendors now showing BCH payments on their sales pages, compared to 126,000 for Bitcoin (BCE).
The deep Web is a collection of resources stored in web databases that cannot be accessed through hyperlinks but need to be accessed through dynamic web technology, not the surface networks that ordinary people often use. When it comes to the dark web, most people have a bad impression, which is due to the all-selling nature of the dark web. Many transactions on the dark web are illegal due to this feature, but it is difficult for law enforcement agencies of various countries to lock criminals in the process of transactions. One important reason is the existence of cryptocurrency.
The basic currency of transactions on the dark web is generally cryptocurrencies dominated by Bitcoin. The reason why bitcoin is accepted for payment is that it has good cryptographic properties and wide recognition. The encryption properties of the transaction are as follows: the recipient simply provides an address (a string of 34-digit letters) to which the payer transfers his or her Bitcoin, and to which everyone can register without authentication. Thanks to its excellent encryption, bitcoin is also a favorite for many online extortionists, such as the Wannacry ransomware worm that went viral around the world in May last year, in which hackers demanded payment in Bitcoin.
The encryption attribute ensures that transactions will not be examined, and the wide acceptance ensures that Bitcoin is “valuable”. After all, the purpose of hackers is also to make money. If Bitcoin cannot be exchanged for money, it may not be accepted no matter how good the encryption is. Extensive recognition is how to achieve, even in currency about this ring is difficult to have a clear definition, some people think that this is tulip bubble expanded edition, also some people think that the currency’s rise is due to its excellent economic theory, namely the decentralization of monetary attribute and fast transfer mechanism, is a kind of innovation to traditional monetary system. However, bitcoin is indeed “valuable”, with the current price of one bitcoin at around 56,000 yuan.
To this day, the dark web is still the main way to use Bitcoin, but now there is a widely accepted cryptocurrency in the dark web market, which is bitcoin Cash (BCH) mentioned in the beginning. BCH was introduced to the dark Web only a year ago, so it doesn’t have a first-mover advantage compared to bitcoin’s years of use. It takes time for a new currency to be accepted, and BCH seems to have skipped that point and gone straight into the mainstream. As for the reasons, there are two reasons: bitcoin’s self-restraint and bitcoin Cash’s pragmatic reform.
Bitcoin transaction congestion is a commonplace topic, which is familiar to almost all people who have a little knowledge of bitcoin. Due to the high commission fee and longer transaction time caused by transaction congestion, some dark web providers have less trust in Bitcoin than before. In this context, the low-cost BCH offers these suppliers a new option. In addition, the reason why BCH is chosen over other cryptocurrencies is that BCH enjoys high recognition worldwide, in addition to the fact that transactions are not congested.