Bitcoin Cash: a new update for the development of the Lightning Network
For November 15 of this year, as happened in 2018, there will be a new update of Bitcoin Cash. For this occasion BCH will make possible the development of a Lightning Network to be released with a new fork.
This year’s new fork did not predict a doubling of the chain, as happened in November 2018, when two new protocols were proposed which led to the division of the chain and the acquisition of a new cryptocurrency which then took the name of Bitcoin SV. This year's fork does not notice any kind, how much it will result support from someone of the old protocol.
Therefore, on November 15 of this year there will be a simple update of the protocol currently in use, which will be taken to the new version 0.20.0. Updating requires a fork, but in this case it will not generate a split or the birth of another cryptocurrency.
The new protocol will enable Schnorr’s signatures to serve to make future Bitcoin Cash implementations possible. Among the implementations possible by fork during the update will be the development of the Lightning Network. Despite this, the integration of the Lightning Network is not immediate, but csa fork only gives you the opportunity to Continue well in its development.
For the specific launch of the Lightning Network on Bitcoin Cash in fact, they are likely to be able to serve approximately 18 months after the update.
Will it affect the price? Trading Bitcoin Cash?
Certainly an update is always seen as a positive thing for users because it means that the project is being followed and not abandoned as is the case with many cryptocurrencies. Currently the price is high (see Bitcoin Cash quote), if you want to buy Bitcoin Cash you can easily do it Coinbase otherwise we recommend trading Binance.
Lightning Network: now available in Bitcoin
With Bitcoin the Lightning Network technology It has existed for some time and currently has almost 36 thousand channels and a good 10 thousand knots. Even if you do not know the exact number of transactions going through the network, the Lightning Network still has a relatively limited capacity of nearly $ 8 million.
In recent times the decline in the use of this technology has decreased, therefore it is not known in the passage of time whether the situation will improve or its use will be seen gradually. The collapse, however, was seen in August, a month known to generate lower incomes and financial movements, so it could only be physiological.
In any case, many are wondering what effect the Lightning Network will have on Bitcoin Cash, as there are currently a number of transactions that make up only one-tenth of BTC. LN will actually serve to make transactions cheaper and faster, but given that BCH the number of transactions is not high, you can get the advantage of making transactions not only fast but immediate, even This upgrade is not always enough to require the growth of a cryptocurrency. So everyone else is waiting for its development to see the real impact that the Lightning Network will have on Bitcoin Cash.