Zumo Celebrates Arrival Of BSV By Giving Away £10,000 Worth Of BSV

Posted by: lukwago J in Tech July 1, 2021

Users of Zumo, an Edinburgh-based digital wallet and payments platform, can now store and receive BSV. And to celebrate this milestone and further attract new users, Zumo is giving away £10,000 worth of BSV. To get a chance to win this exorbitant amount, a UK resident has to register a new account, pass the ID verification process and deposit at least £1 to their Zumo 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,’” Paul Roach, co-founder and chief product officer of Zumo, said.

BSV is the third digital currency available on Zumo. On top of being able to store and receive BSV, users can also exchange, store and spend Bitcoin Core (BTC), Ethereum (ETH) and the British pound using their Zumo wallet. At present, BSV outperforms both BTC and ETH when it comes to technical capabilities. While BTC can only process seven transactions per second (tps) and ETH 30 tps at a maximum, BSV completes an average of 5,124 tps—with its test network recently processing more than 9,000 tps. And this is why BTC and ETH transaction fees are high at $9.19 and $3.83, respectively, compared to BSV’s $0.0017 per transaction.

On June 4, BSV has also overtaken the BTC blockchain when it comes to accumulated data size BSV had a total of 367.43 GB on-chain data, while BTC had 355.23 GB. And this difference will only get bigger due to the BSV blockchain being infinitely scalable. BSV is also going to release the Teranode project within this year, which will allow the network to process over 50,000 tps—and transaction fees will only get lower, making global adoption more feasible.

“Every day, BSV businesses and developers are showing just what the BSV network is capable of when it’s allowed to scale, with its blockchain being used to power use cases as diverse as on-chain social media, eSports and game activity, supply chain management, AR and VR virtual items, COVID-19 vaccine tracing for the African country of Lesotho, and, in the not-too-distant future, the e-government services for an entire nation of Tuvalu. It’s all part of a new data-driven digital economy made possible by the BSV blockchain handling greater data capacity as Satoshi Nakamoto envisioned, and we’re just getting started,” Jimmy Nguyen, founding president of Switzerland-based Bitcoin Association, a global industry organization working to advance enterprise adoption of the BSV blockchain, pointed out.

According to its website, Zumo’s purpose is to create a new fiscal democracy “by breaking borders and giving consumers seamless ownership and control of their money.” And as it expands to include BSV in its roster, it is one step closer to achieving this purpose.

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