Bitcoin Cash [BCH] to light up its network, stress test to be conducted

In an upcoming network testing process on 1st September, Bitcoin Cash is set to put stress on its network by involving individuals and communities to make a huge number of transactions in a day. The day is being called as BCH stress test day and will be testing the tools built for managing microtransactions in bulk.

As a practice for this event, the members of the Bitcoin Cash community also lit up the BCH network by making about 687,000 transactions throughout the day on 1st August. The true scalability potential of Bitcoin Cash will be revealed only on 1st September.

Bitcoin Cash transactions hike on 1st August | Source: bitinfocharts

Bitcoin Cash transactions hike on 1st August | Source: bitinfocharts

Recently, the technology of Bitcoin Cash also saw an advancement when the team decided to increase the block size from 8MB to 32MB. This facilitated about 10 million transactions in a day with the speed of 100 transactions per second.

The problem of scalability has been lurking around the corner for as long as the blockchain space has been into existence. Many developers have attempted to solve the issue but none has achieved complete success. For instance, Bitcoin and Ethereum have figured out their own solutions to the issue of scalability, such as SegWit [Segregated Witness] and Sharding, respectively. These are known to be second layer solutions.

However, Bitcoin Cash has been against this approach of using off-chain scalability solutions. In a way, BCH and SegWit are competitors as the original purpose of both the inceptions was to solve the problems of Bitcoin Core. While SegWit believes in decreasing the size of transactions to provide speed and scalability, BCH attempted to do the same by increasing the block size on the network.

There are multiple popular wallets that support the payment in Bitcoin Cash, namely, Ledger, Trezor, Exodus, Coinbase, Bitpay, Edge, among others.

In the month of July, Purse, a cryptocurrency marketplace launched its support for Bitcoin Cash over Bitcoin. When asked about the reason behind the preference of BCH over BTC, the Product Head of Purse stated that the team began to receive reports of high transaction fees due to network congestion of BTC. Hence, BCH was a clear alternative solution for the company.

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