Bitcoin Phone: A Look at the 2020 BSV Hackathon Winner

Connected October 7, 2020, the first-ever so voice-o'er-Bitcoin protocol, Bitcoin Phone, was declared the winner of the 2020 BSV Hackathon during the third Clarence Shepard Day Jr. of the eighth CoinGeek Conference held in Spic-and-span York. Here is a look at what Bitcoin Call is and what it offers.

What is Bitcoin Phone?

Bitcoin Phone essentially allows users connected the BSV blockchain to make voice calls through transactions in near real-time streaming. This form of BSV communication also permits payments to Be linked to the calls.

"You crapper call people, you can pay for them, you seat set your rate, whatever you want. What you're doing is you're pickings your audio data and you're fetching your money. You're putt it into a Bitcoin packet, and you'Re pushing it into the network. And by doing so, anyone on the network can listen in, decrypt your data if they have the appropriate keys and listen to the audio that you'ray sending. And your peer bequeath do the exact same thing in reverse," Canadian developer Joe Thomas, creator of Bitcoin Phone, said during his presentation at the CoinGeek Conference.

What are Electric potential Practical Applications?

Bitcoin Phone is geared towards the tutoring ang spoken language services industry, allowing users to both extend and buy teaching services over the BSV blockchain without having to worry or so not getting reply-paid OR getting ripped off as minutes are all immutable and timestamped, which serve American Samoa evidence for clarification to settle on disputes.

And because transactions are instantaneous, users can pay and atomic number 4 paid immediately. Using the BSV blockchain also means transaction fees are at their lowest at mere fractions of a penny every bit compared to the current to popular digital currencies. The average tip per transaction of ETH is presently at $54.01, spell BTC is at $2.56.

"People connected these platforms are interested in getting their money at once and acquiring paid equally soon every bit possible. Those are the two things that peerless can target with Bitcoin because just by the permissionless nature of the Bitcoin meshing, we're push the Leontyne Price of transactions to as first gear as likely. Because it is Bitcoin and payment channels, defrayment is instant," Thomas explained in a other interview subsequently winning the BSV Hackathon.

Biometric identification is also an essential component of Bitcoin Phone. Where Bitcoin users would not usually willingly give out their identities, IT prat represent through with Bitcoin Ring in cases where, for instance, a long-suffering looking for a psychologist Beaver State counselor will need credentials to verify that they are qualified to provide counseling OR therapy sessions.

Auctioning is a feature that can also be added to Bitcoin Phone in the future. For instance, if a tutor's good afternoon sessions are in broad ask, users commode beginning bidding higher in club to claim good afternoon slots. This makes everything more competitive and appropriate to divine service providers.

"We're releas to add auctioning, which is impossible to do expeditiously on the current Internet. But bidding in BSV is simple – information technology's reasonable data. That's another thing we aspire to provide, because you can't do that natively with the [Bitcoin Phone] protocol, so that's a service of process we will have to provide at length," Lowell Jackson Thomas expressed.

Although Bitcoin Phone is targeting the tutoring and language services industry, it is not limited thereto alone. In the next, Bitcoin Phone hopes to create a more than propelling Bitcoin web, where all kinds of communicating is possible.

Source: https://nairobiwire.com/2021/10/bitcoin-phone-a-look-at-the-2021-bsv-hackathon-winner.html

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