At a time where nobody has time to wait for transactions to get confirmed, Bitcoin cash is making it possible for faster transactions to happen.
Roger Ver tweeted: “Why do these HK vending machines accept BitcoinCash and #Ethereum but not Bitcoin?”
On May 15, 2020, the Bitcoin Cash Network underwent the latest scheduled protocol upgrade. This is something that occurs every six months. These upgrades included optimizations and new features, which enabled Bitcoin Cash to remain competitive in its mission to become the Electronic Cash for the world.
Protocol upgrades are executed by way of a Hard Fork, which is essentially a mandatory software upgrade for miners running Bitcoin Cash full node.
Hard forks are changes in Protocol rules, which calls nodes running old software to refuse blocks on mining running the new software. Miners will produce blocks on top of the last block, which follows their ruleset. So, this is why all nodes must upgrade the software to achieve consensus on Protocol rules.
Many uneducated persons wrongly confuse hard forking with the process of splitting the blockchain, but this cannot be further from the truth. Chain split is a situation where miners extend the blockchain with rules that do not agree with the rest of the network.
Bitcoin Cash split the BTC blockchain to free itself from hostile takeover in return to Bitcoin’s original Function as electronic cash.
Bitcoin ABC has released the specification for the May 15 upgrade that introduces three consensus rule changes.
Sydney Ifergan, the crypto expert, tweeted: “Bitcoin Cash (BCH) never ever pretends like nothing happened. They are open about what they do, and they keep progressing their way.”
The community has been contributing well in terms of technical expertise for the development of BCH. Other community members who are not technically sound are excited about having to be strong and why BCH should be inexpensive to use and understand to propagate liberty and freedom.
The infrastructure is getting better. DeFi is getting more exciting than plain old cash. More of new developers are needed to build out the ecosystem. Some developers are starting off with cool and exciting ideas which they are working on to deliver as excellently worked on projects.
Yet, there are some investors who have their own frustration related to how things are and how it could have been.
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
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