Bitcoin Cash: Year Of The Dragon
What To Expect From BCH In 2024!
Several historic events will take place in 2024 for Bitcoin Cash, marking one of the most exciting years since the 2017 liberation from oppression.
We expect several CashTokens developments with DeFi ready to enter full-swing mode, such as the launch of stablecoins on Bitcoin Cash and the subsequent increase in trading volumes and liquidity.
Besides CashTokens developments, we also have several landmark events transpiring this year.
The 2024 upgrade (May) will feature the ABLA update, which solves once and for all the issue of further increasing the block size limit.
Moreover, in 2024 Bitcoin Cash will experience the fourth halving (second as BCH, two more as a united Bitcoin in 2012 and 2016), an event that economically creates favorable terms for the price.
Finally, the Bliss conference in Ljubljana will take place in May, with participants already purchasing their tickets in the form of CashTokens NFTs!
That’s a lot to be excited about, so let’s delve into the details!
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The 4th Halving
(Halving Countdown - BitDegree)
Every 210,000 blocks (roughly every four years) the halving occurs, reducing newly mined BCH by 50%.
We estimate the BCH halving at the beginning of April, just about a week before the BTC halving.
The halving event is a significant moment as it reduces selling pressure by miners in the spot market and creates favorable terms for the price.
However, it is also worth noting that the effect of Bitcoin halvings is lowered each time since the remaining Bitcoins (BTC and BCH) are currently less than two million.
More than 93% of the total supply has already been mined, therefore the halving event should not be expected to have a significant role in the future.
Scarcity matters when coupled with demand. And demand requires utility.
The Jessica (ABLA) Update
Nope, it’s not the Jessica Alba you were hoping for. No Hollywood glamour here, just algorithmic brilliance!
The ABLA upgrade (Adaptive Blocksize Limit Algorithm) is explained in this 3-minute video by Ray:
BCH dev @bitcoincashautist is the mastermind of this impressive development that apparently solves several current issues and problems that could have emerged later.
Especially considering all the time and resources spent on just discussing a possible increase of the block size limit. Resources will now be reallocated to more productive developments on Bitcoin Cash.
CashTokens
On the front of CashTokens, we have had the first small steps in 2023, with DeFi (Cauldron DEX) and NFTs (BCH Guru, Cash Ninjas, TapSwap.cash marketplace, etc).
While the volumes and interest were slow so far, it was to be expected at this early stage.
Soon some major developments will appear with the tokenization of a stablecoin (or stablecoins) on Bitcoin Cash and the utilization of smart contracts for price prediction markets.
The Bliss Conference
On the 14th and 15th of May, in celebration of the ABLA upgrade, a conference will be held in the Slovenian capital Ljubljana.
Tickets for the event are sold as NFTs on TapSwap.cash for 0.75 to 0.80BCH.
Several developers and long-standing BCH fans will attend the conference, which will also be live-streamed on social media platforms.
More information on the Bliss website.
Conclusion
In 2024, a new cycle begins for Bitcoin Cash, with fewer concerns and more emphasis on quality.
The ABLA upgrade and the expected developments on the smart contracts side of Bitcoin Cash (CashTokens) further increase the positive outlook.
Merchant adoption in hot spots like Townsville, Ljubljana, Buenos Aires, St. Kitts, and many more places also inspire us with confidence for the future of P2P Electronic Cash.
The foundations for long-term success are laid this year and mark the beginning of a new era.
Bitcoin Cash enters 2024 with unlimited potential and a plan to onboard millions into a P2P economy.
The new developments and the excitement in the community allow us to gaze into the future with a sense of optimism and hope.
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