VSC
As I was deciding what to write I has a notification from X pop across the top of my mobile that said 'Breaking News'. So I had to go look.
BREAKING NEWS:
Fee-less and Fast Micro-transactions for $BTC now possible on Hive Blockchain
@Uyobong3
It is worth quoting.
"
In a novel development, @vsc_eco has successfully created a smart contract on the Hive blockchain for the wrapping, unwrapping, and transferring of Bitcoin within 15 seconds and without a fee. This is an impressive innovation that can revolutionize the utility of Bitcoin the world over. VSC Network is funded by @3speaktv and the Decentralized Hive Fund (DHF) and is committed to building highly scalable smart contract L2s on the HIVE blockchain & bitcoin wrapping tech.
The team led by @vaultec81 has successfully pioneered a truly decentralized full-featured smart contract system on the hive blockchain, storing smart contract code & state on IPFS, while on-chain anchor records are created by validators to synchronize state across the network. VSC promises to power the next generation of NFTs, games, cross-chain transfers, DEXs, and use cases that were not previously thought of.
Micropayments now Possible with BTC
In a bid to try sending BTC to other hivers, I decided to try out smaller amounts as low as 5 Cents (0.00000125 BTC), and surprisingly, the transfers were all successful. What? 5 Cents worth of BTC transferred? This is a new phase of interaction with BTC as it can now be used for micropayments courtesy of the VSC smart contract.
With this development, grocery shop dealers can now start receiving BTC as pay for products bought without the fear of the costs to be incurred.
Bitcoin Wrapping can be done right!
VSC Network believes that Bitcoin wrapping can be done right. Hence, the platform has provision for wrapping and unwrapping of BTC as well as depositing $HIVE into BTC. Users can also redeem their BTC into other BTC wallets or exchanges."
I talked extensively about Hive price yesterday. We need to have patience if that is all you are here for.
We are all jumping on board the VSC and for good reason.
Make sure you read @taskmaster4450 post from today.
VSC: What Does HIVE Look Like With $200M Wrapped?.
Taak's first paragraph sums up what I said about patience.
"The announcement of Bitcoin wrapping on VSC along with the demonstration was an enormous breakthrough. We are looking at a few more months and we will likely have something that is in operation. Testing is starting as well as other aspects of the system being built out."
If this all works out, and I see no reason why it should not, Hive is going to be looking a lot different this time next year.
We won't, should not, have to worry about Hive legging behind Bitcoin as the two one year charts below show.
All I can say is keep building. Things are coming together one puzzle piece at a time.
ALIVE AND THRIVING
