Bitcoin Cash now has a partnership with ACD Inc a Tokyo based firm to launch the ACD token running on the Bitcoin Cash network. The ACD token’s purpose is to offer buyers an appropriate method of payment for the purchase of goods and services in Japanese stores.
ACD’s CEO Mr. Yasuhiro Sonoda said that “after extensive research into different cryptocurrencies on the market, ACD chose to implement Bitcoin Cash as a new payment method. This will benefit our customers by offering fast, cheap and reliable worldwide transactions for both online and offline payments.”
Benefits of the ACD Token
The ACD token project will kick off with ACD’s acceptance of BCH payments from customers as both partners pursue other use cases. Projects like this are standard on the Ethereum network, where Smart Contract based ERC20 tokens are designed to meet different kinds of market needs. The ADC token will, therefore, add value to Bitcoin Cash network.
When Roger Ver, the CEO Bitcoin.com unveiled what he had named his big announcement, some crypto users questioned him about what it was the ADC token could do that BCH itself could not.
One Reddit user had an apt explanation saying that “the huge news will be built in privacy and a way to hedge BCH trustlessly to a stable coin – I know you guys hate them, but many merchants won’t take the risk to accept BCH themselves without being able to hedge it easily.”
The ACD token buyback project
The project also has an “ACD Coin Buy Back Project” that acts as an incentive to the ACD token use. This feature will buy back a fraction of the ACD coins spent during payments using BCH at ACD Coin affiliate shops globally. The move is expected to return some profits from the project back to the community, further increasing the ACD token value and providing liquidity.
On his part, Roger Ver said “he’s honored to be a part of this exciting partnership between ACD and Bitcoin Cash! Worldwide money is a natural fit for a worldwide airline.” Before Bitcoin Cash, Bitcoin transactions in early 2017 would take over four days to process.
Advantages of Bitcoin Cash
Investors would, of course, speed up the process, but such moves would cost transaction fees of up to $28 per transaction. Such difficulties had turned the BTC platform very user unfriendly to merchants, which eventually led to the fork that created Bitcoin Cash. Bitcoin Cash, according to Roger Ver and other supporters, is the answer to the scalability issue on the Bitcoin system.
Bitcoin Cash (BCH) transactions are faster yet cheaper. With this peer-to-peer blockchain network, anyone, anywhere around the world can make instant statements at almost zero costs without risking reversals, payment denials or chargebacks. This is probably the reason why ACD token settled on Bitcoin Cash as its platform of choice.
Bitcoin cash’s adoption level is lower than that of Ethereum or Bitcoin, but it is popular in Japan. Bitcoin Cash’s platform is not only resilient but also enhances privacy. The May 15 hard fork will introduce Schnorr Signatures that will give the network increased scalability, security, and speed. The Schnorr Signatures unlike their predecessor, the Elliptic Curve Digital Signature Algorithm (ECDSA) counterpart utilize less space and therefore cuts down bandwidth usage by 25 percent.