Breaking down the May 15th Bitcoin cash [BCH] hard fork

Bitcoin cash was created as an alternative that serves better than the Bitcoin network, and a hard fork helps in the creation of a new blockchain network. Every Bitcoin holder can have access to owning Bitcoin cash at extremely reasonable fees.

Several independent teams have been creating secure software applications to maintain a global decentralized development. Hence, not a single group can have control over it. Bitcoin Cash is widely popular in Asia, South Korea, and Japan.

Ryan Charles, the founder of Yours.org says:

“The most noticeable thing will be on memo.cash. It’s a decentralised twitter, so you can fit more room in between.”

The necessary first step towards global adoption of Bitcoin cash shall take place on the 15th of May 2018. Bitcoin cash will go through a hard-fork where the block size will increase to 32MB and there will be changes pertaining to adoption of smart contracts. For better reference, we can come to an understanding of the recent surge in Bitcoin Cash’s price in mid-April which was over 100%. Basically, all the Bitcoin Cash node users are required to upgrade to Bitcoin ABC 0.17.1 or any other software that’s compatible.

Bitcoin Unlimited and Bitcoin ABC are user-friendly nodes. BCH is definitely making a comeback with the recent rise in valuation with this hard fork. This will benefit the upsurge of prices in the coming days. Bitcoin ABC is software that is used to run Bitcoin cash node that will hard fork for regular network upgrades.

New upgrades will have:

  • Block size increase from 8MB to 32MB.
  • The OP_RETURN data carrier size is increasing to 220 bytes. This will enable smart contracts.
  • Bitcoin Unlimited [BU], the full node implementation for Bitcoin and Bitcoin Cash networks plays an important role in the upcoming hard fork along with ABC developers.

Writing and operating software updates with the recent launch of Bitcoin Cash. Large transaction volumes can now be tested and experimented with. A maximum of 200 transactions is possible per second which you can adopt through the usage of the blockchain without other fundamental changes.

BCH is currently priced at $1.432 with a circulating supply of 17,128,575 with an upsurge of 3.04% in the past 24 hours.

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