For Bitcoin maximalists who solely need to pay Bitcoin Money charges, SideShift AI has simply launched an answer.

So Many Questions… What Is SideShift AI?

Greatest to begin at first, sure.

SideShift AI is an automatic coin swap, primarily permitting customers to swap cash between chains.

The appliance permits exchanges between over twenty completely different cryptocurrencies, together with BTC, BCH, BNB, ETH, DASH, LTC, USDT, and extra.

Merely choose your chosen currencies for conversion, enter the vacation spot pockets deal with, and ship your supply tokens to the deal with/qr supplied.

It’s a bit like ShapeShift was, earlier than it obtained all ‘obligatory KYC‘ on us, and handing buyer knowledge over to legislation enforcement.

SideShift remains to be at present at ‘Early Adopter’ stage, and requires an entry code, which potential ‘early adopters’ can apply for.

Okay, So How Does That Assist With Decrease Bitcoin Charges?

I’m so glad you requested. SideShift AI got here up with BTC2, bedecking it with the slogan, ‘Core Cash: Where Store-of-Value meets Medium-of-Exchange’. Snappy, I feel you’ll agree.

BTC2 is a token on the Bitcoin Money blockchain (utilizing SLP expertise) which is absolutely pegged to and backed by on-chain BTC. SideShift AI early adopters can convert BTC2 to BTC at 1:1 totally free and vice versa. Transactions are due to this fact processed on the BCH blockchain, with BCH blockchain charges.

It is analogous to Tether, in that USDT is like an IOU for USD, the place Tether maintain the {dollars} (or at the very least 74% of them). Basically, BTC2 is the IOU and SideShift AI acts as custodian of the on-chain BTC.

Nice. However Wasn’t One thing Else BTC2 Too?

You’ll be pondering of Bitcoin2. This Bitcoin fork hit the information a few weeks in the past after pumping 5500% in a day. It seemed like a basic ‘pump and dump’ scheme, which made it all of the extra uncommon when its official Twitter account responded to the SideShift AI announcement.

“Could you not manage to do a simple google search for BTC2 before naming your silly token?” it requested.

https://platform.twitter.com/widgets.js

This (and that terrible animated GIF) apart, there have been some who applauded SideShift AI’s BTC2, notably BitRefill COO, John Carvalho, who tweeted:

I really feel a brand new respect for [SideShift AI founder Andreas Brekken] for being adept at transcending each shitcoinery and bitcoin maximalism on the similar time.

“This, too,” he asserted, “is good for Bitcoin.”

What do you make of Sideshift AI’s new BTC2 coin? Tell us your ideas within the remark part under!

Photographs courtesy of Shutterstock

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