BlockQuake, a global digital asset exchange known for its firm stand in regulation compliance, has announced that BSV trading will soon become available on its platform that is accessible in over 150 countries.
Although launched only last November 2018 after a hard fork in BCH occurred due to issues about changing protocols and unscalability, BSV has become known for its powerful capabilities after restoring the original Bitcoin protocol and unlocking limitless scaling.
Now, BSV boasts of a stable foundation that allow developers from across many different global industries to build a variety of applications and platforms on without having to worry about changing protocols causing costly interruptions in business.
On top of a set-in-stone protocol, restoring the original Bitcoin protocol also unleashed the capacity of the BSV blockchain for limitless scaling. This means that as long as the network scales, there is literally no limit to how big its data blocks can grow, which also translates to higher throughput and lower transaction fees at very small fractions of a cent.
In numbers, this currently translates to 2GB block size and up to 100,000 instant transactions per second (tps) when the Teranode update is released in the coming months. Compared to other popular blockchains like BTC and ETH that only has a capacity of 7 tps and 30 tps with average fees of $1.5 and $28.71 per transaction, respectively, BSV is the obviously the more efficient blockchain.
Being the largest public blockchain that is equipped with limitless scaling, BSV also provides little to no latency, utmost transparency as data is verifiable and professional security. These powerful capabilities of the BSV blockchain make it ideal for developers to build their applications on. This then ensures a continuously growing community of BSV users, which provides more than enough reason for BlockQuake to support BSV trading.
“We announced that we will support BSV trading, and the reason we did that was because it is a legitimate project and it’s got an amazing community that’s growing. I was very thoroughly impressed with the people behind the community, their savviness, professionalism and technical expertise, and all that played a role into us wanting to list BSV,” Blockquake Co-founder and CEO Antonio Brasse said.
BlockQuake takes pride in being able to offer its customers better services at more affordable prices. And this is what will draw BSV users to the global digital asset exchange—being able to securely buy, sell and transfer BSV instantly at more competitive fees.
“There are thousands of other exchanges out there… I feel like we could talk about the fact we have better liquidity, better pricing and better security than most other exchanges, or more fiat on- and off-ramps. But honestly, I think the main differentiator is our team. We’re a seasoned team of finance or tech professionals that worked in banking and insurance and really understand what the consumer is looking for. And we understand regulations, which is going to be coming into play more and more,” Brasse explained.
And because BlockQuake is composed of experienced finance and tech professionals, it is able to make regulatory compliance a priority—something that many exchanges ignore. Being regulatory compliant is not only crucial to the sustainability of a digital currency exchange, but more importantly, it is what offers added protection to consumers.
“Regulations around security should be in place because again it comes back to consumer protection. That’s how you get more people in. If you provide more safeguards, more people will participate and get involved. So, [with] more regulations are coming into play – that’s a good thing because that’s how we get to mass adoption,” Brasse pointed out.
According to Brasse, aside from incorporating KYC, AML, and KYC protocols into BlockQuake, the exchange has also been registered with the Financial Crimes Enforcement Network (FinCEN) and a New York State BitLicence application is already being processed.
Because digital assets are here to stay and its use is only increasing daily, it is expected for policymakers to impose stricter regulations on them. Regulations will not go away and will only increase in the future. This is why it is only prudent to invest in regulation compliance. On this, BSV agrees with BlockQuake as being regulation-friendly has always been one of its pillars of strength.
“As people see more options to be in and out of fiat with different cryptocurrencies, I think people will become more comfortable actually using cryptocurrencies for their daily life, even for buying something at the store. You’ll see more people taking control of their money over the next five years and beyond, and being more involved in trying to make better yields and take more ownership of their decisions,” Brasse said.
In the same way that BSV is aiming to become the global technological plumbing that will improve and fuel systems of all industries where people are using BSV without even knowing it, BlockQuakehas also made it its goal to become a global financial hub in the future. By supporting BSV trading, BlockQuake is taking a step in the right direction.