(Newswire.net — June 30, 2021) — UK-based digital wallet and payments platform Zumo announced on June 24 that its users can now store and receive BSV, the third digital currency it carries on top of Bitcoin Core (BTC) and Ethereum (ETH). BSV has proven with its numbers that it wins over BTC and ETH when it comes to transaction output and fees. BSV averages at 5,124 transactions per second (tps) and its test network has already gone over 9,000 tps at a current average fee of only $0.0017 per transaction. This completely wins over BTC and ETH, which currently completes a maximum of seven tps and 30 tps at a current average transaction fee of $9.19 and $3.83, respectively.
These numbers are due to the fact that BSV is the only infinitely scalable blockchain—something that BTC and ETH have neglected to enable. In fact, Bitcoin Association, the Switzerland-based global industry organization promoting the enterprise adoption of the BSV blockchain, has recently announced that BSV has overtaken BTC in accumulated data size. As of June 4, the BSV blockchain has stored a total of 367.43 GB of data, while BTC has only a total of 355.23 GB. And this gap in data size will only get wider as BSV is set to Teranode later this year that will enable the network to process 50,000 tps.
“We recognize that BSV overtaking BTC in accumulated blockchain growth is an interesting milestone, but it’s really just one step in the journey to something bigger. BTC proponents have long argued that Bitcoin cannot scale and that its network must be restricted to a tiny 1 MB block cap. But with 600 MB block ranges already demonstrated, superior data functionalities shown and now a larger total blockchain data size, too, BSV continues to prove that Bitcoin does scale,” Jimmy Nguyen, founding president of Bitcoin Association, explained.
And to celebrate BSV joining Zumo, £10,000 worth of BSV will be given away to new users by the digital wallet. To become eligible for the prize, participants must be UK residents who have opened a new account on the Zumo wallet within the promo period of June 25 to July 26, 2021, have passed the ID verification process, and have deposited a minimum of £1 in the wallet.
“We’re excited about offering BSV to our users. Zumo is committed to introducing crypto to new investors and welcoming people from around the world into an emerging global economy that’s both inclusive and borderless. We’re hoping to introduce British crypto investors to BSV as well as attracting new users who have never engaged with smart money before. To anyone who’s considering getting involved in crypto I’d say, ‘we’re here to help,’” Zumo co-founder and Chief Product Officer Paul Roach said.
Zumo is a non-custodial wallet that offers an easy-to-use interface for buying, selling, storing, and spending BTC, ETH, and the British pound. BSV can only be stored and received on the wallet at this time. Zumo wallet can be downloaded on iOS and Android app stores. Zumo is a responsible firm that has signed the Crypto Climate Accord and the UN Global Compact, is a member of CryptoUK, and supports WasteAid.