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VeriBlock now accounts for 20% of the volume of Bitcoin daily transactions
Over the weekend, developers found that transactions were being generated by a new Bitcoin startup known as VeriBlock. VeriBlock is a project based on blockchain as a safer alternative for cryptocurrency asset networks. The Home CTO, Jameson Lopp, VeriBlock has developed so much that it now accounts for up to 20% of the daily volume of Bitcoin transactions.
About VeriBlock
VeriBlock is strongly supported by the proof-of-proof consent mechanism. This mechanism is additional to the demonstrations of Bitcoin and used by those who integrate with VeriBlock. The goal is to provide more security for digital resources that are not as secure as those of BTC.
Generally, altcoins have security problems from time to time. This is mainly due to the fact that they offer low mining earnings compared to Bitcoin. A typical example of the lack of security is the mining attack that was recently reported on the Ethereum Classic network. By the way, this attack is ongoing.
Altcoins are prone to these attacks because there are not enough miners who share and generate the hashrate. For this reason, a group of bad actors can network the network and rewrite the chronology. With this power, they can do whatever they want, from sending coins to making tokens without extraction.
How Piggybacking affects Bitcoin
Blockchain VeriBlock is not the first company to propose the inclusion of alternative data in the BTC blockchain. Over the years, there have been many debates on this type of transaction. While some believed it would not be beneficial for Bitcoin's blockchain, others saw it as a good idea. In the end, the OP_RETURN operator was introduced in Bitcoin Core 0.9.
The fact remains that the Bitcoin blockchain is without authorization and decentralized. Thus, any available part can incorporate paid transactions. VeriBlock is willing to provide this service for you. While doing expensive transfers of funds, there is nothing anyone can do to stop it. As long as people are ready to pay the rates required to improve the security of alternative blockchain, VeriBlock will continue to fly. With time, everyone will know the effect that VeriBlock has on the Bitcoin blockchain. With this kind of progress, we can not say how big the company will be by the end of the year 2019.
