Bitcoin ABC is set to launch the updates of November’s hard fork of Bitcoin cash (BCH). Guess what… They want you to get ready for it. The world’s leading software developer, led by Amaury Séchet, is spelling out the changes to expect when using the software. Breaking it down, the best part of the new software package is it will eliminate network spam and further slash transaction fees.
What Else Should The Community Expect?
Well, apart from guaranteeing a platform offering reasonable transaction charges and spam elimination, the hard fork is set to deliver an enforcement of a 100 bytes transaction size, thus forestalling any possible attacks on the good old Merkle tree. Although implementation of new fee regiment is not fully complete, work on it has reached advanced stage.
Hard Fork Progress Made Thus Far
With all hands on deck, the scheduled August 15th launch date remains sacrosanct. When the team is done getting the codes ready, the BCH community will receive notification as the founders always consider them critical to the success of the project. Indeed, for Bitcoin ABC, keeping the BCH community on speed dial for updates is as important as the BCH project itself.
Why Bitcoin Cash (BCH) Is Always Releasing Updates
Séchet explains that the logic behind the hard fork updates and optimization is to prepare the cryptocurrency before its network grows beyond planned capacity. While making himself understood, he hinted that the construction of a global electronic cash system calls for optimization that is specially developed to fit its actual purpose.
Cryptocurrency Performance
The Bitcoin Cash network is down to about 15,000 transactions per day. After BCH failed to achieve a flippening, the project is struggling for adoption and use. To this end, developers are working tirelessly to position the coin as an easier and user-friendly digital currency. Despite efforts going into it, BCH is suffering a sell-off recently.
Looking at statistics, more than 56% of the virtual currency trading happens against Tether (USDT). This signals a mass exodus of crypto-asset investors getting rid of it to reinvest in a fixed-price asset. Last week, BCH lost more than $600, representing 21.5% dip in the past week net. Observers can actually pick out two factors responsible for this pitfall. One is lack of new investors and the 2nd is extremely slim trading volumes. Yesterday, the price of BCH slid sharply to $575.74 from $612. We will continue to watch the market to ascertain the hard fork impact on BCH’s price (if any).
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