Brief information about Bitcoin Cash

On August 1, 2017, the digital market saw a new cryptocurrency based on the BTC blockchain, which was named Bitcoin Cash. The split occurred on the block 478558 Bitcoin. It had a common part of the blockchain until the hard fork, and all subsequent blocks were already formed into a new chain. Bitcoin Cash is called the most successful fork of bitcoin.

How can I estimate the time of transaction confirmation?

It is important to keep in mind that to increase the number of confirmations, a new block must appear. Blocks of Bitcoin Cash, like Bitcoin, can go from 1 to 75 minutes. The average time for a Bitcoin Cash block to appear is 10 minutes. Therefore, Bitcoin Cash is not a fast currency.

If you are unable to send coins to our address

If your wallet does not accept our payment address, try adding "bitcoincash:" to the beginning of the address. This may be due to the fact that your wallet does not support an address without a prefix. Many wallets are strict about address formats.

You may be using a wallet that does not support the new BCH address format. In this case, you can use the address conversion service. To do this, insert the given address into the line and press the Convert button. The Legacy tab will display the old address format.

Example:

• The address you received from us: qztfskga5nqp97vuzufzhxyfky0nfa2kd5lwv5ecp6
• Legacy address (legacy address format): 1EjGs7C1N7e2QEqg343dvQN1UEEF97Btwi

Despite the dramatic difference in spelling, they refer to the same wallet.

Bitcoin Cash network fee

Today, the average fee for a Bitcoin Cash transaction is no more than a cent — $0.0046.

A brief history of the Lightning Network

The Bitcoin community has long been baffled by the scalability issue. The speed of transactions fell, and the network fees grew. In 2015 Thaddeus Dria and Joseph Poon proposed a solution called the Lightning Network. The idea was to carry out some of the transactions outside the network, thereby reducing the load on the BTC blockchain. In 2018, the Lightning Network was launched in Bitcoin.

The Lightning Network is a system that helps users move funds among themselves without having to use a blockchain to verify a transaction. Instead, there is a quick check of funds from the sender and a request from the recipient who agrees to the transaction.

Problems you may encounter while getting the Lightning Network

1. If during the creation of an order when inserting an invoice, an error occurs about the absence of a path, this means that there is no created channel between our node and your wallet node. A channel is required to send and receive payments on the Lightning Network. If there is no open channel between our node and your wallet node, the payment will not be executed. It is recommended to try using a different wallet.
2. If the order page indicates that the order was completed, but you did not receive the funds, then the reason for this may be:

• Disconnected intermediate node. If one of the intermediate nodes is offline, the transaction may be delayed.
• Insufficient amount of deposits on intermediate channels. Intermediate nodes cannot forward the payment due to lack of coins.
• The invoice is out of date. Each invoice has a validity period. Of this term has expired, the payment will not work.

If your order is completed, but you have not received the funds, please contact technical support. We can help you quickly.

Lightning Network Speed

Since transactions on the Lightning Network do not end up on the blockchain, they are almost instantaneous. But if one of the intermediate nodes is off the network, the transaction may be delayed.