How does the new Bitcoin payment model work?

Estimated read time 2 min read

Currently, when making a payment using cryptocurrencies (that is Bitcoin), the process will be like this, select products or whatever you want to buy, and go to the payments section. In the payment section, select the Bitcoin payment (BTC) and continue. A Bitcoin address will be generated for payment, and you will be charged an additional fee, for example, transaction fees (mining fees), additional fees, service fees, etc. Even if you make several payments, the Bitcoin address generated in this way will be the same all the time and you will never know the problems of this part.

btc to inr

So, what are the problems with this?

If one address is used at a time, this can make your system vulnerable to attacks, and it will also increase the commission for each transaction with 1 btc to usd converter. Therefore, the use of a single address is a greater threat than the payment method, therefore, the proposed model reduces these risks to the maximum. Separate addresses are generated for each transaction made with BTC, and these factors are taken into account. The system generates new addresses every time a user makes a payment. There are many advantages in a system like,

  • Strict mode
  • Low transaction fee
  • Lower input parameter
  • Low price of Satoshi / Byte (byte value)

If these values ​​are lower, there will be a transaction fee, and the best part is that the input data (well, this is technical) will be reduced to the value “1” and, therefore, will have a low mining rate. A great contribution was made with such valuable efforts and a well-developed system in the current operating mode.

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