Bitcoin Cash

Bitcoin Cash (BCH): Get Ready for a New Hard Fork

Bitcoin ABC, the main group of developers involved in the project, has set a deadline of May 15 to update the network.

Bitcoin Cash (BCH) has announced another upcoming fork with a deadline of May 15, to roll out the 0.17.0 version of Bitcoin ABC. The most important change is the increase in the block size to 32 MB.

The large block solution is what the Bitcoin Cash project offers as a scaling solution. This is the second hard fork for the project after an update last fall to solve problems with estimating the mining difficulty.

The community sees development as favorable, an indication that the project is not stalled and remains very promising.

Users, exchanges, wallets and other participants in the ecosystem must update themselves to the new software, which is available, until the deadline of May 15th. At the moment a testnet is available with the new consent rules.

The Bitcoin Cash project has suffered bad publicity and has so far failed to recover, at a price of around $ 676.78. For months, BCH stabilized at around 0.1 BTC and the project renounced moving Bitcoin in terms of its dominant position in the market, while at the same time concentrating its efforts to become a currency for daily payments.

The mining situation for BCH has also stabilized, with a new difficulty rule that prevents large fluctuations and keeps miners on the project with greater stability. However, in recent months, BCH mining has been slightly less profitable in most cases. The three biggest miners of the project are Bitcoin.com, BTC.com and ViaBTC, with the share of Antpool slightly lower.

The other big advantage for BCH, the low network rates, has also been wiped out. It turned out that the overhead of the Bitcoin network was a temporary event, and at the moment the commissions for both networks are almost the same.

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