Bitcoin Cash upgrades.

0 34
Avatar for francis105d1
1 year ago

Bitcoin Cash upgraded its software a long time ago. I think it was something about the UNI schedule if I am not wrong. This change was necessary to make the network more stable for businesses because they need regular software that can run with minimal effort, primarily if you serve many people at once. The latest upgrade will change the delivery schedule for the following updates. But that's not all that is coming to the BCH blockchain.

The child pays for the parent.

It is not some parent abuse, and it is just how many unconfirmed transactions you can send. If I am not wrong, the previous limit was 50 transactions, and believe me, businesses like gambling sites were complaining about this limit because it limits users. Still, companies needed an upgrade to this limit and regular users like you and me.

A few days ago, I got a tip here at ReadCash, but I couldn't withdraw it because my input in my read cash wallet had too many unconfirmed transactions, so to solve this problem, I had to wait for the following block to confirm that. Just lucky me, the next block that day took two hours and a half, so for around 150 minutes, I could not use my balance at ReadCash, and that wasn't very pleasant. Imagine if you are a business and you have users asking you why they can't move their funds, and that's why removing the unconfirmed transaction is a must in the Bitcoin Cash network.

UNI schedule.

It only means that the next upgrade will come after one year, which will make Bitcoin Cash more stable for businesses that need to run Bitcoin Cash blockchain for their products and services. Remember that it is not only the node you must integrate your website and software to the blockchain if you are an exchange. You also need to sync your customers' accounts with the chain and the website engine, all of that require a lot of work so that the yearly schedule will do for business a cost-effective process.

Transactions upgrades.

Bitcoin Cash doesn't have that problem because the transaction that is seen by the whole network is the one that is considered for the next block. As long as your value transacted is not so valuable, zero conf will continue to work just like today is, and I don't need to worry about zero conf because many of my transactions are very small, like between $0.01 to $1. When I send more than $10, I always wait for at least one confirmation that is just good accounting. Because there will not be a limit for unconfirmed transactions, the only limit will be the mempool which in BCH is a lot more than Bitcoin Core.

And I forgot OP_return.

Which will also see an upgrade too, and I think this will make life easier for those that deal with tokens, so I guess your tokens in the Bitcoin Cash network just got easy too, not to mention that smartBCH is here, and they will use some of that OP if I didn't understand that in the wrong way.

And talking about smartBCH, it is burning Bitcoin Cash as I type this article, making BCH a deflationary asset, which means that the total circulating supply of Bitcoin Cash won't be 21 million coins but less than that. As people use smartBCH, the more Bitcoin BCH will be burned and taken out of circulation, a pumpametal upgrade. We still need more news on smartBCH, but I think the last upgrades are good news for those holding Bitcoin BCH.

Not to mention that AnyHedge or those who created Detoken are still working hard and that they are cooking something that will be revealed in the future.

In short, changes will be announced six months in advance, and stability will be excellent for the Bitcoin Cash network. It won't cost a problem for current system applications and services to protect the network effect and adoption. Bitcoin Cash is looking forward to the future.

8
$ 3.71
$ 3.59 from @TheRandomRewarder
$ 0.05 from @anli
$ 0.02 from @TheGuy
+ 4
Sponsors of francis105d1
empty
empty
empty
Avatar for francis105d1
1 year ago

Comments