Focusing on Peer-to-Peer Payments
Over two years ago, HandCash announced its strong push towards becoming 100% peer-to-peer as the original Bitcoin design was intended to work. For this reason, we have created and adopted open peer-to-peer communication standards in order to scale in a reliable and cost-effective manner.
The BSV network is growing at a very fast pace, and as a UX-first company, it is becoming more and more critical to focus our efforts and resources on peer-to-peer transactions to keep offering instant and reliable payments.
So starting today, in our effort of phasing out inefficient and unreliable non-peer-to-peer transactions, legacy deposits will need one network confirmation before being reflected in users’ wallets.
All peer-to-peer payments (Connect SDK, $handle and paymail) are unaffected by this change and will keep working lightning quick as usual.
Thanks to the continuous efforts towards adoption of peer-to-peer practices in the BSV ecosystem, right now non-peer-to-peer legacy transactions represent less than 1% of all total volume handled by our infrastructure.
Quoting our peer-to-peer joint announcement with MoneyButton:
it’s the only way we can all scale in an efficient way.
Thankfully, a few tools are now available to easily transition into a scalable and peer-to-peer based infrastructure:
Our team will happily assist you and your company with this transition, just email us at email@example.com and we’ll be in touch!