Bitcoin Cash, which was the result of the first Bitcoin hard fork in August 2017, will now be a hard fork for bringing the block’s size from the current 8MB to 32 MB. This new update of Bitcoin Cash speaks volumes about the ambitions that the miners place on this currency, since it’s dealing with an expansion of the block that is neither absolutely necessary nor urgent at this time since, as a rule, the blocks of Bitcoin Cash never exceed the size of 1MB.
The implementation of “smart contracts” – which are programs that allow the registration of additional information in the blockchain and to carry out specific instructions depending on the input they receive – is also provided for. The smart contracts are in full development in the world of blockchain programming and have an extremely vast application potentiality that only now has begun to be discovered and developed.
The Bitcoin Cash was born with the idea of it being a currency that interprets Bitcoin’s original project of being “peer to peer” ready cash with quick and secure transactions, with economical commission fees and a stable, easy to use payment system. Very soon we’ll surely see what surprises Bitcoin Cash has reserved for us. For now, the price of the currency fluctuates around 1,600 USD, still far from the 4,000 USD it had reached in December 2017.
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