BitcoinCash Weekly News November 11th 2024 by the BCHF
BCHF HITS 200,000 FOLLOWERS ON COINMARKETCAP.COM
The Bitcoin Cash community page on Coinmarketcap.com, (operated by the BCHF), has achieved a remarkable milestone, increasing to 200,000 followers since May 2023. This growth in community engagement is a testament to the increasing interest and enthusiasm for Bitcoin Cash. The community sentiment is overwhelmingly positive, with a staggering 97% of voters expressing a bullish outlook, indicating strong confidence in the project’s future prospects. Furthermore, the price of Bitcoin Cash has seen a significant surge, rising 27% over the past week, making it one of the top-performing coins in the market. This uptick in price and community enthusiasm suggests a renewed interest in Bitcoin Cash, driven by its growing adoption, tokens, programmability via smart contracts, improving infrastructure, and increasing recognition of its potential as a fast, reliable, and secure means of peer-to-peer electronic cash for the world.
UNLOCKING THE POWER OF BCH: A CONVERSATION WITH MATHIEU GEUKENS
The Bitcoin Cash Podcast recently released episode 132, featuring guest Mathieu Geukens. In this episode, Geukens discusses a range of topics, including the latest developments in Cash Script, the upcoming XO.cash project, VM Limits and Big Ints upgrades, Tokenaut, Cashonize, and the growth of the BCH community. He also touches on the importance of checking up on cold storage and the phenomenon of dormant coins, as well as recent news from the BCH ecosystem, such as BCH Bull’s cumulative volume milestone and the BCH Argentina conference. This episode provides a unique perspective on the current state and future potential of the Bitcoin Cash ecosystem, making it a great resource for anyone looking to stay up-to-date on the latest developments in BCH.
BEYOND SEND AND RECEIVE: THE FUTURE OF WALLETS
The General Protocols team recently held a Twitter Spaces discussion, titled “The Value of Redundancy and Redundancy,” to talk about the concept of native wallets and the challenges of building a decentralized finance ecosystem on the Bitcoin Cash UTXO blockchain. The team discussed various topics, including the limitations of current wallet solutions, the need for redundancy and security in wallet design, and the potential benefits of using templates to simplify complex transactions, such as liquidity pools and multi-signature wallets. They also touched on the use of cash assembly language to present transactions in a human-readable format, the importance of user experience in wallet design, and the potential for decentralized identity solutions, such as cash ID. Additionally, they discussed the need for simplicity, security, and transparency in wallet design, and the potential for P2P technology to decentralize infrastructure and services. The team is working on a new project, called XO, which aims to create a native wallet stack that can unlock the full potential of the Bitcoin Cash ecosystem. To learn more check out XO.cash
FUTUREBITCOIN.CASH PROJECT SEEKS FUNDING FOR ELECTRON CASH PLUGIN DEVELOPMENT
The Bitcoin Cash community has seen the launch of a new app that allows users to lock BCH and receive a small BCH reward in return. The app, known as Future Bitcoin Cash, utilizes a concept called “coupons” which are essentially prebates that allow users to lock BCH for a set period of time and receive a reward. The coupons are fully collateralized, easily verifiable, and trustless, making them an attractive option for users looking to earn a yield on their BCH holdings. The app is looking to upgrade, with a recent campaign to build an Electron Cash plugin for the platform successfully funding its 30 BCH goal. The plugin will enable advanced features such as automated coupon taking, auto-redemption of mature tokens, and charting of historical rates. Additionally, the team has announced plans to build a commission-free DeFi market, which will allow users to buy and sell FBCH tokens without paying fees to centralized market operators. To learn more check out https://futurebitcoin.cash/coupons
CALCULATING SUCCESS: CASHSCRIPT’S LATEST RELEASE ADDS UP
The latest version of CashScript, v0.10.2, has been released, introducing several updates to the high-level programming language for smart contracts on Bitcoin Cash. The release includes new features for the CashScript compiler, such as support for underscores in numeric literals and scientific notation, aimed at improving code readability. Additionally, the CashScript SDK has been updated with a fix for fee calculation issues related to the ECDSA signature algorithm, as well as a cleanup of dependencies. The v0.10.2 release is now available, offering developers improved functionality and usability.
CASHONIZE GETS A JOLT: NEW UPDATE BRINGS FIXES AND FEATURES
Cashonize has released the latest version of its wallet, v0.2.4. The update addresses and resolves two key issues: an Electrum error that occurred during CashConnect signing requests, and an initialization problem with the “connect to dapp” feature. Additionally, the release includes an updated list of block explorer options and modifications to the web wallet settings menu, allowing users to download the application and access wallet backup options more easily. The v0.2.4 release is now available for download on Windows and Android via the Cashonize GitHub page. https://github.com/cashonize/cashonize-wallet/releases/tag/v0.2.4
THE MARKET THIS WEEK
PRICE STATS: ORACLES.CASH
ENERGY STATS: GREENBITCOIN.ENERGY
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Based on my knowledge up until October 2023, here’s an overview of Bitcoin Cash (BCH) and key points that may be relevant or beneficial to understand:
Overview of Bitcoin Cash (BCH)
Origin: Bitcoin Cash was created in August 2017 as a hard fork from Bitcoin (BTC). The primary motivation for its creation was to address scalability issues in Bitcoin, particularly the block size limit, which proponents believed restricted the number of transactions processed.
Block Size: Bitcoin Cash increased the block size limit from 1 MB (and later to 32 MB) to allow for more transactions per block. This adjustment aims to reduce transaction fees and confirmation times, making it more suitable for everyday transactions.
Transaction Fees: One of the key selling points for Bitcoin Cash is its lower transaction fees compared to Bitcoin, which can be highly variable during times of network congestion.
Community and Development: Bitcoin Cash has a strong community of supporters and developers who work on enhancements and upgrades. There are regular updates and discussions about potential improvements and the future direction of the protocol.
Recent Developments and Insights (up until 2023)
Smart Contracts and Features: The Bitcoin Cash network has been exploring features like smart contracts and decentralized applications (dApps), aiming to broaden its use cases beyond simple peer-to-peer transactions.
Merchant Adoption: Efforts have been made to increase merchant adoption of Bitcoin Cash. Various platforms and services allow businesses to accept BCH as a payment option, promoting its use in everyday transactions.
Cross-Chain and Collaboration: There have been initiatives to improve interoperability with other blockchains and promote collaborations within the cryptocurrency ecosystem.
Challenges
Market Competition: As a fork of Bitcoin, Bitcoin Cash competes not only with Bitcoin but also with other cryptocurrencies aiming to solve similar issues related to scalability and transaction speed.
Community Divisions: The cryptocurrency community can be polarized, and Bitcoin Cash has faced setbacks and forks (e.g., Bitcoin SV) that reflect differing philosophies within the BCH community.
Resources for Staying Updated
If you have specific questions about Bitcoin Cash or particular topics related to its developments, feel free to ask!