Last year, Bitcoin cash main developers team announced that they were making “tentative” plans to increase the cryptocurrency block size again. That plan is about to come true in a little more than three weeks time, on May 15, 2018 at approximately 12:00:00 UTC to be exact. The Bitcoin (BCH) network is planning to hard fork by upgrading its block size to 32MB and also integrate additional functionalities to the protocol.
The network and its entire community is currently making steady preparations for the consensus change as development teams release new code. Meanwhile its users and infrastructure providers will upgrade their full node implementations.
Biggest Block Size Increase in History
The BCH Network Block Size Increase will probably be the biggest block size increase in history. But BCH developers and users alike are excited about the prospects the block size increase presents. It will enable developers the to maintain consistent transaction throughputs for the billions of people living in the world, alongside on-chain fees anyone from any developing nation can afford. The block size increase will also allow enough room for transactions since BTC is more expensive to transact with at 10.73X than BCH according to statistics.
The block increase will allow for the addition of colored coins, representative tokens and smart contracts to the BCH chain. Developers have already added
OP_Codes and a larger OP_Return data size. By May 15, BCH will have more innovation to offer users should be on the lookout.
Let us know what you think about the upcoming Bitcoin Cash upgrade in the comment section below.
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.
Twitter Lanches Bitcoin Tip Service, Available on iOS Devices
Dubai regulators have flung open the door for crypto businesses
Giveaway Scam Resolve; Bitcoin.org is back online: Will the perp be found?
VanEck to Give Clients Access to Crypto by Offering a Solana ETF
Solana based DEX, Orca Closes $18M Series A Round
We don’t expect all businesses to adopt e-Naira –CBN
We chose Bitt Inc for the e-Naira because of Capacity & Experience – CBN
KB24 Launches NFTs Collection in Memory of Kobe Bryant, Proceeds to be Given to Charity
President of Turkey Says the Country is at War with Cryptocurrencies
Watch the Latest Edition of Inside Blockchain – 29th Nov. 2020
Crypto Roast is LIVE – 27th Nov. 2020
AMA Series with Beam CTO & Tech Lead, Alex Romanov
Keep it Locked on to Cryptotvplus
Inside Blockchain | 16.11.2020
Inside Blockchain: WHY YOU SHOULD BECOME A BLOCKCHAIN DEVELOPER
How Blockchain Technology Can Transform Governance In Africa
E-naira Project Award to BITT Raises Regulatory Questions
The Central Bank of Nigeria’s e-naira Project has generated a number of questions lately. The most recent is the contention...
Ecosystem Growth Fund: The newest ways to market and promote blockchain platforms
Fantom, Harmony, Algorand & OKEx has in less than a month announced a billion dollars fund to boost development on...
TOKEN2049 Returns for In-Person Event this October in London
Highly anticipated conference at the forefront of the digital assets space marks the return of one of the first major...
OKEx Launches Super Affiliate Program
Are you a KOL or content creator in the crypto space? Do you want to boost your earning by introducing...
Influencers Are the Drive behind NFTs Popularization – Karla Obarkpolor
The founder of NFT marketplace Qlipit and Crypto Asset Management Company, Crypto Smart has stated that influencers have played big...