A developer team of Bitcoin Cash named "Bitcoin ABC" has announced further updates or Bitcoin Cash Hard Forks for May 15 and November 15, 2018. With the updates on the one hand, the block size should be increased again and on the other hand, various changes to the mining difficulty and to the consensus rules are implemented.
According to the publication on bitcoinabc.org, the team has communicated with representatives from other independent Bitcoin Cash development teams, including Bitcoin Unlimited, Bitprim, nChain, Bitcrust, ElectrumX, Parity and Bitcoin XT, and shared a common vision for Bitcoin's evolution Cash developed.
According to Bitcoin ABC, the vision includes the following goals:
- higher reliability,
- Improve scalability,
- lower transaction costs and
- Provision of additional functions (timestamps, representative tokens and more complex transaction scripts)
These improvements should be the basis for a rapid growth of Bitcoin Cash. For the Bitcoin Cash Hard Fork on May 15, 2018, the following new features are planned:
Increasing the block size and creating the basics for an adaptive block size (new block size is still unknown)
Implementation of a canonical transaction sequence (details still open)
Improvement of the Mining Difficulty Adjustment Algorithm
Opcode changes to facilitate future opcode upgrades
The code for the update should be published three months before the hard fork (15.02.2018), so that the code can be tested extensively. Whether there will be a hard fork or just an update will be decided later, depending on support, for the changes in the Bitcoin Cash developer community.
Bitcoin vs. Bitcoin Cash - The next try?
Obviously, the planned hard forks should extend the technical advantages of Bitcoin Cash over Bitcoin. Increasing the block size is once again a central topic. This will make Bitcoin Cash more scalable and lower transaction costs.
As early as mid-November, when the original Bitcoin crashed massively and large amounts of market capital flowed into the Bitcoin Cash, the block size was the central theme. The Segwit2X fork was canceled. In addition, Bitcoin had an extremely high number of open transactions during this time, resulting in very long transaction delays. Bitcoin Cash was able to shine in this time with its larger blocksize of 8 MB and fast transaction times.
The price development definitely speaks for Bitcoin Cash, which was able to gain 212 percent last month. In the same period, Bitcoin was "only" 54 percent. Nevertheless, the Bitcoin acts after the rapid increase in price over $ 10,000 currently untouchable. From our point of view, it remains exciting to see when Bitcoin Cash takes the next attempt on the throne of Bitcoin.
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