Bitcoin cash progress

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1 year ago
Bitcoin Cash Progress.        

Bitcoin Cash (BCH), a peer-to-peer electronic cash system, has made significant progress over the past few years. Since its inception in 2017, the BCH community has been focused on developing a robust and scalable blockchain network that can handle large volumes of transactions at low fees.

One of the major milestones in the history of BCH was the November 2018 hard fork that resulted in a split from Bitcoin SV (BSV). The fork was driven by disagreements over the direction of the Bitcoin network, with BCH supporters wanting to increase the block size limit from 1MB to 32MB to accommodate more transactions.

Since then, the BCH network has seen several significant upgrades to improve its functionality and usability. One of the most notable improvements was the May 2018 upgrade, which introduced a new consensus rule called Canonical Transaction Ordering (CTOR). CTOR reorders transactions in a block to improve block propagation time and reduce the likelihood of blockchain forks.

In November 2020, BCH underwent another hard fork to implement the latest upgrade, known as the "Muskoka" upgrade. This upgrade included several changes to the network, including a new mining algorithm that makes it more profitable for miners to secure the network, improved transaction chain limit and re-enabling of some opcodes.

Another significant development in the BCH ecosystem has been the growing adoption of the Simple Ledger Protocol (SLP), which allows users to create custom tokens on the BCH blockchain. This has enabled the creation of a wide range of digital assets, including stablecoins, security tokens, and even game assets.

Furthermore, several major companies have begun accepting BCH as a form of payment. These include Microsoft, AT&T, and Expedia, among others. In addition, a growing number of merchants are using BCH as a payment method, thanks to its low transaction fees and fast transaction times.

The BCH community has also been active in promoting the use of the cryptocurrency in developing countries. The Bitcoin Cash Fund, a non-profit organization, has been working to promote BCH adoption in countries such as Venezuela, where hyperinflation has led to a widespread adoption of cryptocurrencies.

In conclusion, Bitcoin Cash has made significant progress since its inception, with several notable upgrades and improvements to its functionality and usability. With growing adoption by merchants and companies, as well as the increasing popularity of SLP tokens, the future looks bright for the BCH ecosystem

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