Bitcoin Cash has been seeing prices rise for days as the hard fork approaches in less than a month. Faster transactions, a 32 MB block size and new operation codes are the goal of the Bitcoin Cash Hard Fork.
Hard Fork will make Bitcoin profit faster
Since Bitcoin currently takes relatively long to send transactions compared to other crypto currencies, there have been a number of hard forks trying to improve the Bitcoin profit and create a new groundbreaking coin.
We explicitly point out that Bitcoin’s scalability solutions are already being worked on. The Bitcoin Lightning Network is designed to solve these problems. All details, advantages and disadvantages and how the Lightning Network works can be found in this article.
But back to the Hard Fork, as already mentioned, the problem of transaction speed and network utilization (December 2017) led to several Hard Forks and from them came tokens like Bitcoin Cash, Bitcoin Atom, Bitcoin Gold and so on. Bitcoin Cash is by far the most successful Hard-Fork.
Bitcoin Cash was developed to meet the requirements of crypto traders, which meant an increase in transaction speed. The block size was increased from 1 to 8 MB and the transaction speed was reduced to a few minutes. On May 15, 2018, there will be the next Hard-Fork, with the primary goal of increasing the block size from 8 MB to 32 MB.
Bitcoin Cash – Smart Contracts included
The upcoming fork will also include several operation codes, according to James Song, founder and CEO of Blockchain Startup ExsulCoin. These operation codes will enable intelligent contracts (Smart Contracts) to be implemented on Bitcoin Cash. Song was quoted in Forbes with the following words:
“IT IS THIS SPECIAL MESSAGE THAT TRIGGERS THE EXCITEMENT IN THE MARKET FOR BITCOIN CASH.”
Bitcoin Cash recorded gains of over nine percent in the last 24 hours and the technical market analysis of 20.04 already provided positive indicators. The resistance zones were breached, indicating an upward trend.