Hello Dear Lions,
Today I am coming to make an article about an amazing technology on Hive. VSC Network invented a new Micropayment technology with wrapped Bitcoin between wallet to wallet on the Hive Blockchain. This requires no fee and need only 15 seconds to make a successful transaction.
Since the birth of Hive, various communities and networks have been innovating new technologies on the Hive Blockchain with their hard work and intellectual knowledge. A variety of technologies, features, and DApps enable us to experience a full Web3 experience at Hive. In view of that, VSC Network has developed a new technology in the Hive Blockchain where small amounts of Bitcoin can be easily transferred from one Hive wallet to another without any fees. And for this it will take maximum 15 seconds.
VSC Network is a next generation Layer 2 smart contract on the HIVE blockchain. Ever since their emergence, they have been innovating new technologies in the Hive Ecosystem. In view of that, they have developed the amazing feature of Feeless Micropayments through Bitcoin on Hive Blockchain. We know that a certain amount of fees is deducted for each transaction in the blockchain. This is seen almost everywhere, including Bitcoin, Ethereum. But with this new technology of VSC network, small amount of bitcoins can be transferred from one Hive wallet to another Hive wallet. The most interesting thing is that this transaction does not require any kind of fee. Moreover, this transaction will take maximum 15 seconds to complete.
I am describing below how to use this micropayment of VSC network :-
- First you access https://wrap.vsc.eco/ website with your web browser. After visiting you will see an interface like this.
- Then login to the website through your Hive Keychain. You will be eligible to use the feature as soon as you login.
There was a meeting about this on the CTT podcast a few days ago. There Hive's renowned contributors discuss the topic in detail. For more details about VSC Network's micropayment system, click on the link below and listen to the replay of the Twitter space.
Also, the audience has a very nice discussion on the Inleo thread, where all the relevant information is analyzed. You can get the necessary information from there if you want. Click on the link below and join the threadcast to check live chat :-
My Opinion
I think Hive has advanced in the web3 world by inventing such a technology. Using this technology, Hive Wallet users can now trade wrapped bitcoins among themselves without any other exchange. The website is currently under construction. I hope to add some more features to the website soon and allow the use of HiveSigner for login.
So that's all for this blog. I am still in the learning phase at Hive. Everyday I learn new things about Web3, Blockchain technology and Hive Ecosystem. All in all, my days are going pretty well in this supportive community.
(thumbnail downloaded from wrap.vsc.eco website.)