The well-known cryptocurrency investor strikes an upbeat tune about Bitcoin Cash (BCH) despite its steady decline in price in the wake of recent hard fork that he called an upgrade.
Bitcoin Cash, launched on August 1, 2017 as a result of dividinng Bitcoin, is making several upgrades today. The most sufficient changes are increasing of the maximum blocksize from 8 to 32 MB, adding or reactivating several Bitcoin script operation codes.
The total number of active nodes on Lightning Network,the most exciting development in the whole blockchain ecosystem, has crossed 2,000, while its total network capacity has passed $150,000.
With the ongoing speed of the development of Lightning Network, analysts believe that the official release of the first version of the mainnet can occur anytime soon.
Soon after the full-SegWit support in the Bitcoin software update, the Bitcoin transactions using SegWit have doubled in just past two days.
The Full-SegWit support to the Core Bitcoin software has been officially confirmed by core developer Peter Todd.
Bitcoin is currently trading at crucial levels from where it can finally make-it or break-it. Experts opinion still remains divided.
A bitcoin network update, defined as Bitcoin Improvement Proposal 141 (BIP141), is expected to be locked in once the signaling period is completed.
The proposal is written under the assumption that the signatories to the Consensus 2017 Scaling Agreement are genuinely committed to the terms of the agreement and intend to enact the updates described therein.
A consensus on how to increase the blockchain network capacity has finally been reached, pushing the price of the digital currency to a new record high.