Most cryptocurrencies experience regular changes. These IT developments most often aim to improve the functionality of the network. They are important to know to keep up to date with the characteristics of each crypto and network. In addition, their deployment often results in an increase in their price. One of the important upcoming crypto updates is Bitcoin Cash (BCH).
What is the evolution of Bitcoin Cash (BCH) on May 15?
Bitcoin Cash will experience some changes on May 15, 2021. This update is expected by many because it should bring many improvements to the Bitcoin Cash network. Users and merchants who use BCH as a means of payment will be the first to be affected by these developments. Concretely, what is it?
The first major change concerns the removal of the limit on the number of unconfirmed transactions. Until now, you should know that a person could not make more than 50 transactions. Beyond that, he had to wait until the block was mined before continuing his transactions. This release was highly anticipated by online gambling sites that allow payment in BCH and need to complete a large number of transactions quickly.
Another important improvement concerns the risk of double spending. In case of doubt, the nodes of the network will be able to send a message directly to the wallets concerned. This will allowimprove network security.
Finally, the update will configure the maximum block size defaults to 8MB. Previously, the user had to go and change the settings himself. Many are interested in bundling more transactions together. Also, although minor, this change should improve user experience. Of course, this does not change the maximum block limit which can be up to 32MB.
Bitcoin Cash (BCH), a crypto in the making
Bitcoin Cash was created in 2017 following a fork that appeared on the Bitcoin blockchain. Although in the shadow of its predecessor, BCH is anything but a small crypto. Currently, Bitcoin Cash weighs over $ 20.7 billion, which ranks this crypto at 9th in the world in terms of capitalization.
Although its price is still far from its historic highs of 2017 (€ 3,615 on December 20, 2017), it is in constant increase since December 2020. While waiting for the implementation of the update, it seems that the price of BCH is already benefiting from this event with a strong increase observed in recent days. Thus, the BCH price rose from € 835 on May 4, 2021 to more than € 1,110 on May 6, 2021, i.e. more than 30% in 48 hours ! Considering the promises embarked by the May 15 package, there is no doubt that its course should continue its good momentum.