Blockchair Feed Reveals Messages Encoded in the BCH, BTC and ETH Blockchains

Blockchair Feed Reveals Messages Encoded in the BCH, BTC and ETH Blockchains

Blockchain exploration service Blockchair has launched a new analytics tool. Blockchair Feed decodes the messages that are written into the BCH, BTC, and ETH networks. The results can be viewed in a real-time feed comprised of messages that range from the banal to the enigmatic.

Also read: A Brief History of Hidden Messages in the Bitcoin Blockchain

Feast on a Banquet of Messages with Blockchair Feed

Blockchain explorer Blockchair is widely used by the bitcoin cash and core communities for searching for transactions and checking data pertaining to market prices, dominance, and network performance. It’s also one of the few blockchain explorers that enables users to search for specific words or phrases hidden in transactions. Its latest tool goes a step further and decodes these messages in realtime as they are published on each of the three blockchains.

Blockchair Feed Reveals Messages Encoded in the BCH, BTC and ETH Blockchains
A sample message decoded by Blockchair Feed

Blockchair Feed provides a fascinating and occasionally bizarre glimpse into the conversations that people are having, sometimes with specific people, and sometimes with the world at large, via their favorite blockchain. Most of the messages that can be viewed in the feed come from the BCH network. That’s largely thanks to the success of micro-blogging social networks such as Memo and Blockpress. Each of these capitalizes on the low fees of bitcoin cash, making it practical to message other users via the OP_Return field. Thanks to the recent upgrade to the BCH network, the size of this field has increased, giving rise to even more possibilities for onchain communication.

Blockchair Feed Reveals Messages Encoded in the BCH, BTC and ETH Blockchains
Blockpress

Of the two social networks, Blockpress has the cleaner UI which is reminiscent of Twitter. After creating a profile, header, and username, users can dispatch short messages that include emojis. Judging by the spate of messages appearing in the Blockchair Feed, however, Memo is the busier of the BCH social networks at present. As previously reported by news.Bitcoin.com, people have been encoding messages in blockchains for years. The BTC blockchain, for example, contains six marriage proposals. Now, thanks to the rise of tools such as Blockchair Feed, coupled with services like Memo and Blockpress, reading those messages – and even replying to them – has gotten a lot easier.

Have you tried using Blockpress or Memo yet and if so what are your thoughts on these services? Let us know in the comments section below.


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This Week in Bitcoin: Smooth Bitcoin Cash Upgrade, BCH and BTC Tax Payments in Florida

This Week in Bitcoin: Smooth Bitcoin Cash Upgrade, BCH and BTC Tax Payments in Florida

A notable week for Bitcoin Cash (BCH) – the network successfully upgraded the blockchain protocol by extending the block size to 32MB. The change will allow a greater number of transactions to be processed with inexpensive and consistent transaction fees. Also, Seminole County in Florida will accept tax payments in both Bitcoin Cash (BCH) and Bitcoin Core (BTC) thanks to a partnership with Bitpay.

Also read: Bitcoin in Brief Saturday: Warren Warned by Billboards, Coinbase Tempted by Banking

Bitcoin Cash Upgrades Blockchain Protocol

The Bitcoin Cash network has smoothly and successfully upgraded the blockchain protocol this Tuesday by extending the block size from 8MB to 32MB. The implementation of the new consensus rules went into effect at block height 530356.

This Week in Bitcoin: Smooth Bitcoin Cash Upgrade, BCH and BTC Tax Payments in FloridaThe change represents one of the largest block size increases in blockchain history. The upgrade also includes an increased default data-carrier-size, from 80-bytes to 220-bytes, and re-enabling previously disabled Satoshi OP_Codes, which could add the ability to code colored coins and binary contracts.

The fourfold block size increase will allow vast amounts of transactions to pass through the network with consistent and inexpensive transaction fees. It also gives developers plenty of breathing room to adjust the size if it starts getting closer to its limit and paves a path for mass adoption. The block size limits are currently set by the miner, and developers are able to set the capacity so that blocks cannot get full in the immediate future. This means that the fees will remain low for quite some time and also reliable, even when transaction usage becomes as extreme as in the last quarter of 2017.

Bitpay Enables BCH and BTC for Tax Payments in Florida County

US-based crypto payment processor Bitpay has announced a formal agreement with Florida’s Seminole County Tax Collector, Joel M. Greenberg. Both Bitcoin Cash (BCH) and Bitcoin Core (BTC) can be used for tax payments starting this summer. County residents will be able to pay in crypto for driver licenses, ID cards, and even property taxes.

“We live in a world where technology has made access to services on demand, with same-day delivery and the expectation of highly efficient customer service, and we should expect the same from our government,” Greenberg said. He added that the aim of his tenure in office is to make customer experience faster, smarter, and more efficient, and to bring government services from the 18th century into the 21st. One way to achieve that, the official says, is to add cryptocurrency to the available payment options.

China Ranks Almost 30 Cryptos, Finds Over 400 Fake Coins

The government of China, one of the first to ban cryptocurrencies like bitcoin, has come out with official crypto rankings. The Chinese Center for Information Industry Development (CCID) will be judging leading digital coins according to three major criteria – innovation, technology, and application – although details about the applied methodology are yet to be shared. A total of 28 cryptocurrencies and their respective blockchains have been ranked. Of the top four coins by market capitalization, Ethereum was ranked first, followed by Bitcoin Core (BTC) at number 13, Ripple is 17th, and Bitcoin Cash (BCH) – 25th. The Chinese top five include Ether, Steem, Lisk, NEO, and Komodo.

This Week in Bitcoin: Smooth Bitcoin Cash Upgrade, BCH and BTC Tax Payments in FloridaAnother sign of growing attention to cryptocurrencies in China is the publication of a report on fake coins by a government-backed industry organization. The National Committee of Experts on the Internet Financial Security Technology (IFCERT) has identified 421 fake cryptocurrencies. The organization pointed out that 60% of these cryptos are deployed overseas. IFCERT also outlined some major red flags of the fake coins. According to the Committee, they often adopt “pyramid-based” business models and claim high returns. The cryptos have no real code – they either do not have a blockchain or cannot generate blocks for one. These coins are not traded on legitimate exchanges, the report also notes.

US Government Launches Scam Crypto Site

The US Securities and Exchange Commission (SEC) has created and published its own version of an initial coin offering (ICO) scam website. “Combining the two most growth-oriented segments of the digital economy, blockchain technology and travel, Howeycoin is the newest and only coin offering that captures the magic of coin trading profits and the excitement and guaranteed returns of the travel industry,” the mock SEC website claims. It promises partnerships in all segments of the travel industry and “earning coins you can trade for profit.”

This Week in Bitcoin: Smooth Bitcoin Cash Upgrade, BCH and BTC Tax Payments in Florida

“The rapid growth of the ‘ICO’ market, and its widespread promotion as a new investment opportunity, has provided fertile ground for bad actors to take advantage of our Main Street investors. We embrace new technologies, but we also want investors to see what fraud looks like, so we built this educational site with many of the classic warning signs of fraud,” SEC Chairman Jay Clayton explained. He also noted that distributed ledger technology can add efficiency to the capital raising process, but promoters and issuers need to make sure they follow the securities laws. “I encourage investors to do their diligence and ask questions,” Clayton said.

EU Adopts Rules to Reduce Anonymity for Crypto Users

EU Adopts Rules to Reduce Anonymity for Crypto UsersThis week, the European Union moved closer to its goal to minimize anonymous crypto transactions. The EU Council adopted a directive, which updates the European anti-money laundering legislation. The new rules come with requirements for crypto platforms to introduce know-your-customer procedures. The amendments were adopted at a meeting of the General Affairs Council on Monday, following an agreement with the European Parliament form December. In April this year, MEPs voted to support the deal to “bring cryptocurrencies under closer regulation.”

The main changes involve addressing the “risks linked to virtual currencies” by taking steps to reduce anonymity for both crypto traders and crypto-related transactions. Providers of exchange services between virtual and fiat currencies, as well as custodian wallet providers, will be obliged to identify suspicious activities. The directive states that authorities should be able to monitor the use of cryptocurrencies through these platforms, and the national financial intelligence units should have access to information allowing them to associate crypto addresses with the their owners.

South Korean Regulators Widen Investigation of Crypto Exchanges

The government in Seoul is widening its probe on cryptocurrency exchanges focusing on the use of corporate accounts for crypto transactions, which the regulators say can lead to money laundering. The practice should have been discontinued when authorities introduced the real-name system at the end of January. However, only 30% of all crypto accounts have been converted into real-name ones so far. South Korea’s top financial regulators are now teaming up with prosecutors to widen the investigation.

This Week in Bitcoin: Smooth Bitcoin Cash Upgrade, BCH and BTC Tax Payments in FloridaThe six banks that can issue real-name accounts have chosen to only service the country’s largest crypto exchanges: Upbit, Bithumb, Coinone, and Korbit. Nonetheless, not all accounts at these exchanges have been converted into real-name ones. In addition, all small and medium-sized exchanges continue to use corporate accounts for crypto transactions. The regulators warn that the use of corporate accounts can lead to fraud. The announcement of the widening probe follows the launch of an investigation on the largest South Korean crypto exchange, Upbit.

What are your thoughts on the top stories we’ve covered this week? Let us know in the comments section below.


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Japanese Crypto Exchange Continues Global Expansion – Now in Five Countries

Japanese Crypto Exchange Continues Global Expansion - Now in 5 Countries

A Japanese government-approved cryptocurrency exchange has resumed expanding overseas. Already operating in five countries with a plan to launch in more in the near future, the exchange aims to construct a global network of crypto transactions.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Building Global Network

Japanese Crypto Exchange Continues Global Expansion - Now in 5 CountriesBitpoint Japan was among the first crypto exchanges to be fully licensed by the Japanese Financial Services Agency (FSA). It is a subsidiary of Remixpoint (3825.T), a listed company on the Tokyo Stock Exchange.

Bitpoint has started a new round of expansion overseas, after entering a few countries last year. The company announced on Thursday that its Malaysian exchange has begun operations.

The Kuala Lumpur-based Bitpoint Malaysia opened its doors on May 17, offering spot trading and leverage trading. The fee for spot trading is 0.5% while leverage trading carries no fee. Deposits and withdrawals in Malaysian Ringgit are free during the grand opening. The exchange wrote:

We offer leverage of 2, 5, 10 and 25 times.

Five cryptocurrencies are supported: BTC, ETH, BCH, LTC, and XRP. Bitpoint Japan says it “will support Bitpoint Malaysia as a system and liquidity provider.”

Global Operations

Japanese Crypto Exchange Continues Global Expansion - Now in 5 CountriesIn addition to Malaysia and Japan, Bitpoint is also operating in South Korea, Taiwan, and Hong Kong. The exchange also opened an office in China in July last year before the Chinese government shut down all crypto exchanges in the country.

In addition, the exchange is reportedly preparing to enter Singapore, Thailand, and other Asian markets in the near future. Bitpoint detailed:

By continuing to provide overseas exchanges using the Bitpoint system in the future, we will continue to realize the construction of a global network of virtual currency transactions.

Tougher Rules and Competition in Japan

Since the hack of Coincheck, one of the most popular crypto exchanges in Japan, the FSA has tightened its cryptocurrency oversight. The country still has 16 fully-licensed crypto exchanges, which have recently formed an association to focus on self-regulation in an effort to rebuild public trust in the crypto industry.

However, out of the 16 “deemed dealers,” which are those allowed to operate while their applications are being reviewed by the FSA, only 8 remain. The agency recently revealed that the other 8 have indicated that they are withdrawing their applications.

Meanwhile, the agency confirmed that over 100 companies are seeking to enter the space, including Yahoo! Japan and Line Corp, which operates the popular chat app Line.

What do you think of Bitpoint’s global expansion plans? Let us know in the comments section below.


Images courtesy of Shutterstock and Bitpoint.


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Markets Update: Digital Assets Show Recovery After the Past Three Days of Dips

Digital asset markets are doing some healing during the past 24-hours of trading after touching some lows the day prior. At the moment the entire cryptocurrency market capitalization of all 1,600+ tokens is around $377Bn with around $16Bn worth of 24-hour trade volume. Bitcoin Core (BTC) markets are up 2.3 percent averaging $8,314 per coin while Bitcoin Cash (BCH) prices are up 1.5 percent at around $1,180 per BCH.

Also read: “Stablecoin” Trueusd Pumps After Binance Listing

The Week-Long ‘Consensus Pump’ Never Came to Fruition

The mid-May ‘blockchain week’ Consensus pump never materialized last week even though there was plenty of positive cryptocurrency news. During the course of the week, most digital assets in the top 500 lost a good portion of gains. This weekend is a different story as a bunch of markets are seeing some recovery from the dips. Bitcoin Cash markets are up 2.3 percent averaging roughly $1,188 per BCH at the time of publication. The decentralized currency’s 24-hour trade volume has dropped considerably to $683Mn which doesn’t give traders hope for a bigger weekend push. The top five exchanges swapping the most BCH today include Okex, Huobi, Hitbtc, Lbank, and EXX. BTC pairs with BCH has increased significantly as BTC represents 41 percent of today’s BCH trades. This is followed by tether (USDT 30%), USD (13%), KRW (11%), and the Euro (1.2%).

Markets Update: Digital Assets Show Recovery After the Past Three Days of Dips
BCH/USD prices on May 19, 2018.

BCH/USD Technical Indicators

Looking at the BCH/USD four-hour charts on both Bitstamp and Bitfinex shows bulls need to muster up more strength to break upper resistance. The two Simple Moving Averages (SMA) still have a gap with the 100 SMA above the 200 SMA indicating a good path to the upside. However even though there is a gap it looks as though the two trend lines may cross hairs shortly. RSI oscillator levels point towards an oversold region at 38, and the MACd indicates there will be improvement shortly as well. Looking at the order books towards the upside shows bulls have gigantic sell walls to eat through between the current vantage point and $1,250. On the back side if the BCH bears remain in power there are still some solid foundations between now and $1,130. Traders are looking out for some deeper consolidation before the next breakout as positions currently look like musical chairs at the moment.

Markets Update: Digital Assets Show Recovery After the Past Three Days of Dips
BCH/USD prices on May 19, 2018, Bitfinex $1,880 per BCH.

The Top Digital Currencies See Some Recovery

Overall most cryptocurrencies today are in the green and nurturing the market wounds from the past 72-hours. Bitcoin Core (BTC) prices are doing decent rebounding today at $8,318 per coin but trade volumes are also low at $5Bn. Ethereum (ETH) the second highest valued market cap is doing very well as markets are up 4.3 percent. One ETH is trading at $708 during Saturdays mid-afternoon trading sessions. Ripple (XRP) prices are up 2.1 percent as each XRP trades at $0.68 cents. Lastly, the fifth position held by EOS is doing the best out of the top five contenders as EOS prices are up 5.6 percent — a single EOS today trades for $13.13 per token.

Markets Update: Digital Assets Show Recovery After the Past Three Days of Dips

The Verdict: Bullish Optimism Wanes

Optimism is there among cryptocurrency traders and enthusiasts but people are becoming skeptical of the positivity and those predicting bullish pumps. Of course, while the dips take place traders are finding shelter in Tether, and True USD while they wait out the storm. For now, there’s a whole lot of consolidation happening until traders decide when the next big move happens which could go either way at this vantage point.

Where do you see the price of BCH and other cryptocurrencies headed from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


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Purse.io Adds Native BCH Support and Launches ‘Bcash’

Purse.io Adds Native BCH Support and Launches 'Bcash'

On Friday, May 18, 2018, the firm Purse.io, the company that enables up to 20 percent savings when users shop on Amazon with Bitcoin Core (BTC), announced native support with Bitcoin Cash. Now users spending Bitcoin Cash can get the same services the firm has been offering since 2014. Additionally, Purse has revealed its own Bitcoin Cash (BCH) Javascript library for node.js called ‘bcash.’

Also read: “Stablecoin” Trueusd Pumps After Binance Listing

Purse.io Adds Native Support for Bitcoin Cash

Purse.io Adds Native BCH Support and Launches 'Bcash'This week at the Coingeek conference in Hong Kong, the firm Purse announced native support for BCH alongside its new client release ‘bcash.’ Right out of the gate during this formal announcement, the firm details that a marketplace like Purse depends on cryptocurrencies that don’t rely on “speculative interest or enthusiasm alone.” The company says the average order on Purse is around $100 and the average discount is about $15 and two on-chain transactions. Then Purse says they witnessed the grueling debate last year, while BTC transactions climbed to $50 per transaction. Now Purse has added Bitcoin Cash to the platform with full native support.      

“We’re excited about the vision of a cryptocurrency for commerce and appreciate the overwhelming support from the Bitcoin Cash community — We’re thrilled to announce native Bitcoin Cash,” Purse explains in a blog post.

The update is being tested to ensure a smooth experience with a target live date by the end of May. In addition, once Bitcoin Cash goes live, users who missed the post-fork withdrawal period will be happy to see their balance restored.

Purse.io Adds Native BCH Support and Launches 'Bcash'

Introducing ‘bcash’ an Implementation Not a Currency

In addition to the native support Purse has also unveiled the bcash implementation — an open source fork of the client bcoin, for the Bitcoin Cash network. Basically, bcash is an alternative implementation of the bitcoin cash protocol, written in node.js. The client can act as a full and SPV node, a wallet backend with BIP-44 derivation, a mining backend, and a general purpose BCH library. The bcash implementation will be the sixth BCH client joining Bitcoin ABC, XT, Unlimited, Parity, and Bitprim.

“We’re delighted to announce bcash, a bcoin implementation for Bitcoin Cash,” Purse details.  

We’re excited about projects including Yours, Joystream, Memo.cash, and Openbazaar, and excited to see new use cases emerge. Bcash is open source and ready for testing today.   

Two Crypto Nerds Agreeing?

Purse says to celebrate the Bitcoin Cash addition they have collaborated with the Bitcoin Cash Fund and customers who shop will earn a BCH cashback bonus this June.

“Going to from ‘One to Two’ has been challenging on technical and emotional levels — Over 25 crypto nerds work at Purse — When’s the last time you heard even two crypto nerds agree on anything?” Purse adds.

What do you think about Purse adding native support for Bitcoin Cash and the new bcash implementation? Let us know what you think about this subject in the comments below.


Images via Purse, bcoin, and Shutterstock. 


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Bitcoin Cash Update: CNBC’s Poll Favor’s BTC over BCH

CNBC's Poll

CNBC’s poll was another blow to Bitcoin Cash enthusiasts on top of an already declining coin price. Bitcoin Cash price declined at a robust pace in the last two weeks despite its anticipated hard fork event. The fourth largest coin traded below $1,200 today for the first time this month. BCH coin had hit a three-months-high of $1,800 on May 6.

Source Image: coinmarketcap.com

BCH bulls failed to capitalize on the awaited hard fork event on May 15. The Bitcoin Cash network is now officially upgraded to 32 MB from its previous ...

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Coingeek Conference 2018: Bitcoin Cash Innovation Shines in Hong Kong

Coingeek Conference 2018: Bitcoin Cash Innovation Shines in Hong Kong

On May 18, 2018, the blockchain firm Coingeek hosted its inaugural Coingeek Conference held this year in Hong Kong. The event was filled with movers and shakers from the Bitcoin Cash (BCH) ecosystem, alongside hundreds of BCH supporters looking to change the way the world’s money works.

Also Read: 5 Years Ago You Should Have Bought Bitcoin, Not Altcoins

Coingeek Conference 2018: Spreading the Word of Bitcoin Cash Adoption in Hong Kong

Coingeek wrapped up its Bitcoin Cash-focused conference that aimed at spreading the message of the many benefits BCH has to offer. The event was held in Hong Kong, at the luxurious Four Seasons Hotel, and had a wide variety of industry innovators from company’s like Purse.io, Bitmain, Yours, Centbee, Handcash, Nchain, Lokad, Bitcoin.com, and more. Moreover, attendees listened to keynote presentations from Ryan X Charles, Jihan Wu, Dr. Craig Wright, Roger Ver, Joannes Vermorel, Vin Armani, Steven Bower, and Jimmy Nguyen among many special guests.

Coingeek Conference 2018: Bitcoin Cash Innovation Shines in Hong Kong
Lorien Gamaroff CEO of Centbee discusses better wallets and payment solutions. What consumers and merchants need for a Bitcoin Cash world.

Bitcoin Cash Powering Online Commerce

The event kicked off with Nchain’s Jimmy Nguyen who discussed the latest Nchain BCH-focused endeavor called ‘Bcommerce.’ Nguyen’s talk called ‘A Bcomm World: How Bitcoin Cash will Power the future of ‘Bcommerce,’ got the crowd fired up over how BCH proponents plan to spread mass adoption. The concept of Bcommerce aims to provide a global payment system on-chain, with low commission fees, and fast transactions. Nguyen details how the firm is researching and developing on-chain techniques for Bitcoin Cash, security improvements, better user interfaces and APIs, and most of all merchant adoption.

Compared to Swift — It is Wonderful to Use Cryptocurrencies as a Payment Method

After Nguyen’s speech on Bcommerce, the Coingeek crowd was greeted by the CEO of Bitmain Technologies Jihan Wu. Mr. Wu’s presentation called “The Future of Crypto Economy and Bitcoin Cash,” described how proponents can further bolster BCH adoption. Mr. Wu also discussed the subject of initial coin offerings (ICOs) likely in part because BCH may have the ability to produce colored coins soon. Mr. Wu detailed to the attendees that ICO’s have become a “buzzword” and some for the wrong reasons.

Coingeek Conference 2018: Bitcoin Cash Innovation Shines in Hong Kong
Bitmain Technologies CEO Jihan Wu talks about the future of the crypto economy and Bitcoin Cash.

Furthermore, Mr. Wu said many ICOs are misleading and the cryptocurrency industry should “work closely with regulators instead of working closely with lawyers.” Moreover, Mr. Wu joined a panel with Bitcoin.com’s Roger Ver, and Nchain’s Dr. Craig Wright and explained how a giant tech company like Bitmain found significant flaws with the Swift banking system. As far as customers using digital assets for payments Mr. Wu thinks it is great and far more efficient than Swift.    

“It is very wonderful to use cryptocurrencies as a payment method — Basically our customers go to the banks and say they want to wire $1 million dollars to Bitmain and they can say no — You need to give them a reason, you need to give them a contract, and this and that,” explains Mr. Wu.   

But with Bitcoin Cash you can wire the money as you wish as long as you control the private key — And the money arrives instantly and we can ship out the next day.

Bitcoin ABC’s Amaury Sechet: Working to Increase Scaling Further

Following the discussion with Mr. Wu, the Coingeek crowd was greeted by the Lead developer of Bitcoin ABC, Amaury Sechet, who detailed his technical vision for a global payment system. Sechet explains how Bitcoin Cash is continuing towards the original roadmap that Satoshi Nakamoto laid out in his original white paper.

Coingeek Conference 2018: Bitcoin Cash Innovation Shines in Hong Kong
Bitcoin ABC’s lead developer, Amaury Sechet discusses continued BCH scaling.

The developer continues by explaining how BCH can already handle Paypal scale volumes, and for cheap network fees. After the BCH developers completed a successful upgrade just a few days prior, Sechet reveals to the Coingeek audience that they are “working to increase scaling further.”

Coingeek Conference 2018: Bitcoin Cash Innovation Shines in Hong Kong
Bitcoin Cash follows the roadmap laid out in the original whitepaper.

Purse is Launching a New Bitcoin Cash Implementation Called ‘Bcash’

Attendees at the inaugural Coingeek conference also heard from Nchain’s Dr. Craig Wright who talked about new ways to sell and trade goods with BCH in a presentation titled ‘Bitcoin’s Atomic Age.’ Participants heard from Centbee’s CEO Lorien Gamaroff and the exciting BCH wallet they are working on. Joannes Vermorel the founder of Lokad told the crowd about how proponents can overcome eCommerce hurdles with Bitcoin Cash.

Coingeek Conference 2018: Bitcoin Cash Innovation Shines in Hong Kong
Purse.io announces native BCH support.

Additionally, Coingeek attendees heard a panel on BCH use cases from industry leaders such as Alex Gut of Handcash, Vin Armani of Cointext, Angela Holowaychuk of Ncrypt, and Steven Bower from Purse.io.

Coingeek Conference 2018: Bitcoin Cash Innovation Shines in Hong Kong
Purse.io also announced a new BCH implementation called ‘bcash.’

Bower told the crowd about a new Bitcoin Cash client that will be released shortly called ‘Bcash’ that’s similar to implementations like the ABC, BU, or XT clients. Alongside this, the crowd was pleased to hear Purse.io is using BCH for native support. Overall the spirit was high in Hong Kong at the 2018 Coingeek event, and everyone who attended was quite optimistic after the successful fork a few days ago.

Did you attend the Coingeek Conference 2018? Let us know your thoughts on this event in the comments below. 


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Bitcoin Cash Price Watch – BCH/USD Declines Further, Now Below $1,200

Bitcoin Cash Price Watch

Key Highlights: Bitcoin Cash continued its decline this week, falling below the $1,200 mark. BCH/USD failed to break above its previous resistance level of $1,290 despite a minor upside correction. BCH/USD is currently on a bullish run that could retest the $1,200 price level. Bitcoin Cash Price Declines Below $1,200

On Friday morning, Bitcoin Cash price continued its decline from earlier this week, now sitting below the critical $1,200 mark. Even though there was a minor upside correction, the cryptocurrency failed to break above the previously established $1,290 resistance level.

However, BCH/USD is currently on a ...

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Blockstack Launches Decentralized Applications Store

Blockstack Launches Decentralized Applications Store

The project that’s building a network for decentralized applications layer for the internet, Blockstack, has announced the launch of a new universal Dapp (decentralized application) store called App.co. The aggregated list of roughly 138 ecosystem-wide applications that offer utility by harnessing the benefits of decentralized technologies like blockchain, cryptocurrencies, IPFS, Zeronet, and more.

Also read: EU Adopts Rules to Reduce Anonymity for Crypto Users

App.co: An Aggregated List of Decentralized Applications

Blockstack Launches Decentralized Applications Store One thing is for sure the internet is heading more and more towards a decentralized path every day. The team over at Blockstack project aims to make this technological trend and advancement flourish with their own systems and collaborating with other Dapps. This week Blockstack released its Dapp store called App.co which features a bunch of platforms tethered to the decentralized ecosystem.

“Whether you are downloading Metamask to use an Ethereum dapp, or logging in with a Blockstack ID and granting a dapp access to your encrypted data storage hub, inherent to all these dapps is the true ownership of your data,” explains Blockstack.

Dapps link developers and users directly, without middlemen hosting software or managing user data — We believe it is critical to drive everyday users to dapps that are ready for widespread adoption — That’s why we’re announcing the first ecosystem-wide, universal Dapp store.

Blockstack Launches Decentralized Applications Store

Currently, Blockstack’s List Has 138 Dapps

The Blockstack Dapp store shows a wide variety of applications that do things like decentralized instant messaging, social media, developer tools, games, marketplaces, exchanges, and more. Dapps included in the store are Kyber, Yours, Ethlend, Cryptokitties, Peepeth, Stealthy, Steemit, Openbazaar and many more platforms.

Blockstack Launches Decentralized Applications Store

There are 138 Dapps on the store at the time of publication and creators can submit their platforms for review to get on the webpage. Decentralized networks used by some of the applications include Ethereum, Bitcoin Cash, Steem, Inter-Planetary File System (IPFS), Matrix, Bittorent, and others. Additionally, in the future, Blockstack hopes the App.co Dapp store will be as decentralized as the apps it hosts. The New York-based company states:  

Blockstack Public Benefit Corporation is curating and maintaining this Dapp store initially, but eventually we plan to include user ratings to rank dapps across the ecosystem — We want to democratize dapp development, and reward developers for great user experiences.

“Decentralized apps represent the many doors people can walk through to enter the decentralized Internet. Each user may be enticed by different doors, depending on what they’re interested in or what they need fulfilled,” explain the Blockstack founders Muneeb Ali and Ryan Shea.

What do you think about the Blockstack Dapp store? Let us know what you think about the store in the comments below.


Images via Shutterstock, Blockstack, and App.co. 


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Openbazaar Enables Decentralized Peer-To-Peer Trading of 44 Cryptocurrencies

Openbazaar Enables Decentralized Peer-To-Peer Trading of 44 Cryptocurrencies

Cryptocurrencies can now be traded on the peer-to-peer online marketplace Openbazaar in addition to physical goods, digital goods, and services. Initially, 44 cryptocurrencies are supported but the development team plans to add more over time. There is no fee for trading cryptocurrencies and no need to register with any service.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Crypto Trading on Openbazaar

Openbazaar Enables Decentralized Peer-To-Peer Trading of 44 CryptocurrenciesPeer-to-peer e-commerce platform Openbazaar’s development team, OB1, announced this week that fully decentralized, fee-free cryptocurrency trading is now available on the platform with the release of Openbazaar version 2.20. The platform previously had three types of listings: physical goods, digital goods, and services. “We’re now adding a fourth: cryptocurrency,” the team emphasized, elaborating about the new software version:

The biggest new feature is the ability to buy and sell cryptocurrencies. Vendors are now able to use a special new listing type to sell cryptocurrencies on Openbazaar. They can choose from 44 different cryptocurrencies right now and more will be added over time.

The main benefits of using Openbazaar to trade crypto, as detailed in the announcement, is that there are “no fees, no need to register with any service, and no threat of an exchange getting hacked,” so users “aren’t forced to reveal any identifying information.”

Openbazaar Enables Decentralized Peer-To-Peer Trading of 44 Cryptocurrencies

“We’ve released this new feature with the goal of listening to the community about how they believe cryptocurrency trading on Openbazaar can be improved. We plan to rapidly iterate as we receive feedback from users,” the OB1 team conveyed. They also shared that since the launch of the crypto trading option, “we’ve seen users on the Openbazaar network from more than 60 different countries.”

Not an Exchange, No Order Book

However, the platform is “completely peer-to-peer” so “this is not an exchange,” Openbazaar developers admitted, adding that “the new feature only allows people to trade cryptocurrencies directly with each other at market prices.” It does not “include an order book with the ability to choose a target price for buying or selling,” the OB1 team clarified.

Openbazaar Enables Decentralized Peer-To-Peer Trading of 44 CryptocurrenciesCurrently, the platform uses 3 different cryptocurrency payment types: Direct, Offline, and Moderated. “If a buyer trusts a seller they can just send their coins directly to them in a direct payment,” the developers described. For sellers who are offline at the time of payment, the Offline option allows them to claim their coins when they return. The Moderated option can be used when buyers do not know or trust the vendors.

For crypto trading, the team reiterated:

“Payment must be settled in whichever coin they [vendors] have chosen for their Openbazaar store, either bitcoin, bitcoin cash, or zcash.”

What do you think of Openbazaar’s crypto trading option? Will you trade cryptocurrencies on Openbazaar? Let us know in the comments section below.


Images courtesy of Shutterstock and Openbazaar.


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Bitcoin Cash is the Biggest Loser Albeit Roger Ver Optimism

Bitcoin Cash

Bitcoin Cash (BCH) is the biggest loser among the top ten cryptocurrencies: Bitcoin Cash price lost all the gains that it had generated amid infrastructural developments and analysts bullish bets. It is down almost 25% in the last seven days alone. The coin plunged to the $1,300 range today after touching three months high at the beginning of the month.

The BCH network is now officially upgraded to 32 MB from 8 MB. Combined with other numerous advantages; the upgrading will significantly improve its transaction processing potential.

The upgrade has also enhanced expert’s confidence ...

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Cryptocurrency Brokerage Service Genesis Global Granted Bitlicense

Cryptocurrency Brokerage Service Genesis Global Granted Bitlicense

On May 17 the Digital Currency Group initiative and Over-the-Counter (OTC) cryptocurrency service, Genesis Global Trading, announced that Genesis was recently granted the New York state Bitlicense. The company that provides OTC solutions to institutional buyers can now operate freely in New York — A territory that many call, ‘the financial capital of the world,’ as Genesis aims to provide significant BTC, BCH, ETC, LTC, ZEC, XRP, and ETH liquidity in the state.

Also Read: Bitcoin Cash Upgrade Milestone Complete: 32MB and New Features  

DCG Backed Genesis Global Trading Granted New York State Bitlicense

Cryptocurrency Brokerage Service Genesis Global Granted BitlicenseGenesis Global Trading has announced the firm has been granted the Bitlicense, and the company will be allowed to operate in New York with other approved businesses such as Coinbase, Circle, and Itbit. The New York Department of Financial Services (DFS) approved the company and provided Genesis with the Bitlicense — which will allow the firm to trade the various digital assets it holds with institutional investors. Before the company was granted the Bitlicense the firm operated under the DFS “safe harbor” provision.

Genesis was launched in 2013 and is backed by the venture capital organization the Digital Currency Group (DCG), a firm founded by Barry Silbert. The company is a regulated cryptocurrency OTC dealer that “provides access to institutional investors and high net worth individuals looking to buy or sell large sums of digital currencies.” Genesis has offered deep pools of liquidity, 24-7 trading, and same-day settlement since the company’s inception.

“We are very pleased that DFS has approved the Genesis Global Trading BitLicense application,” said Michael Moro, CEO, Genesis Global Trading.

Although we have operated under a safe harbor provision in recent years, today’s decision is an important step forward and reaffirms the robust compliance measures we have enacted as an established trading partner.    

Barry Silbert Hopes More Cryptocurrency Businesses Are Approved in NY

Cryptocurrency Brokerage Service Genesis Global Granted Bitlicense
Barry Silbert.

To use the Genesis platform, traders have a $75,000 USD minimum deposit, and all users are subject to AML and KYC regulatory guidelines. In addition to being an approved brokerage service that can sell Bitcoin Core (BTC), the DFS has also approved to procure Zcash (ZEC), Ethereum (ETH), Ethereum Classic (ETC), Bitcoin Cash (BCH), Ripple (XRP), and Litecoin (LTC). Genesis also states the firm is also registered with the Securities Exchange Commission (SEC) and Finra as well.

The Digital Currency Group’s founder Barry Silbert was excited for Genesis commenting on the subject over Twitter.

“Congrats to the team at Genesis Trading on being granted a Bitlicense, joining Coinbase Circle, Ripple, Bitflyer USA, and Itbit,” Silbert states.

 

Hoping to see the NYDFS ramp up their licensing pace so that NY does not continue to fall behind.

What do you think about Genesis Global Trading receiving the Bitlicense? Let us know your thoughts on this subject in the comments below.


Images via Shutterstock, Twitter, and Genesis Global.


Want to see all those Memo posts and OP_Codes in the BCH Chain? Check out Bitcoin.com’s Block Explorer today! 

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Meet Akari-Pay: The BCH-Powered Website Payment Platform

Meet Akari-Pay: The BCH-Powered Website Payment Platform

On May 17 the Akari Global Foundation, an organization that aims to promote the increased adoption of Bitcoin Cash (BCH), launched a payment platform for BCH acceptance called Akari-Pay Advanced. The launch of Akari-Pay reveals a one-file BCH payment/donate page that doesn’t require any coding knowledge to utilize the platform.

Also read: Federal Reserve Pres: People Want Dollar, Not Volatile Crypto

Akari Global Foundation Launches Akari-Pay, a One-File Bitcoin Cash Payment/Donate Page

Meet Akari-Pay: The BCH-Powered Website Payment Platform There have been lots of developments happening throughout the BCH community over the past 48 hours since the last upgrade. Now the Akari Global Foundation is helping push BCH adoption to the masses with its new BCH-based payment gateway. Akari says its mission is to help reduce the world’s economic oppression and increase freedom by leveraging the Bitcoin Cash network. Akari believes BCH offers many benefits most other cryptocurrencies cannot such as micropayments, low network fees, immutability, near instant settlement, and no chargebacks. The latest payment platform called Akari-Pay makes it easy for anyone to accept BCH payments or donations with a simple platform that doesn’t require a bunch of technical knowledge.

“‘Akari-Pay Advanced’ for Bitcoin Cash, an extension of akaripay, has now been released,” explains the Akari Global Foundation.

Raise funds for any project or goal using Bitcoin Cash — Simply self-host your donation page on your website — Easily link to it anywhere, use our included ‘donate buttons,’ if you wish.

The Open Source Akari-Pay Is Free and Allows Customizable Themes  

In order to utilize the open source Akari-Pay protocol, users simply follow the instructions via the organization’s Github repository. Akari-Pay allows individuals and businesses to title and run a self-hosted BCH-centric funding page. Users can also specify a short description of why someone would donate or use the hosted BCH payment button. Additionally, Akari-Pay allows the user to set a goal that includes a graph, live updated donation count, and other features. Moreover, individuals and businesses using Akari-Pay can match the branding theme of their organization or nonprofit with customizable themes by simply editing certain text files.

Meet Akari-Pay: The BCH-Powered Website Payment Platform

The Akari Global development team has released the platform as completely free software and the code is open for review. In addition to the latest Akari-Pay version, the team has released a demonstration video on how to use the donation bar, set goals, update totals, and customize a color scheme.  Furthermore, Akari has set up a dev-chat channel in order to help people set up self-hosted BCH donation pages.

The Bitcoin Cash community across social media and forums seems pleased with Akari’s latest launch that allows anyone with a website to add a donation/payment page for free that utilizes the BCH network’s peer-to-peer electronic cash system. The BCH payment button works for mobile phones, laptops, and desktops by simply uploading an HTML file to the desired server. Akari also provides its own HTML files and templates for users to create a payment gateway quickly if they don’t want to customize their payment page.

What do you think about the Akari-Pay Advanced payment gateway? Let us know in the comments below.


Images via Shutterstock, the Akari Global Foundation, and Akari-Pay. 


Want to see all those Memo posts, Blockpress posts, and OP_Codes in the BCH Chain? Check out Bitcoin.com’s Block Explorer today!

The post Meet Akari-Pay: The BCH-Powered Website Payment Platform appeared first on Bitcoin News.

Bitcoin Cash Community Sees OP_Code Innovation After Upgrade

Bitcoin Cash Community Sees OP_Code Innovation After Upgrade

It’s been well over a day since the Bitcoin Cash (BCH) network upgraded its protocol, and the consensus rules now come with a 32MB block size. Although the block size increase is quite a feat, BCH developers have also expanded the network’s default data-carrier-size to 220 Bytes and re-enabled some old Satoshi OP_Codes that were previously removed from earlier codebases. Now over the past 24-hours, lots of people have been playing around with the new BCH features.

Also Read: Bitcoin Cash Upgrade Milestone Complete: 32MB and New Features

Experimenting With the New Bitcoin Cash OP_Codes

Lots of BCH community members have been discussing the new OP_Code features and the additional space added to the network’s default data-carrier-size. The first signs of people messing around with the new features came from the Memo and Blockpress developers as both platform’s increased posting character limit from 79 to 217.

Bitcoin Cash Community Sees OP_Code Innovation After Upgrade
Both Memo and Blockpress (featured above) now have 217 characters.

This means users of both social media applications can now post more content and everything is saved on-chain. Then shortly after the fork, another OP_Code feature was shown to the community by Openbazaar developer Chris Pacia.

The First Tree Signature on the Bitcoin Cash Blockchain

Pacia built the first tree signature on the Bitcoin Cash blockchain by utilizing the OP_CAT functionality  which creates a more efficient multi-signature combination. The Openbazaar programmer explains for addresses with a large number of keys, a tree signature can use less data. “For addresses with a large number of keys a tree signature can use less data. And unlike normal OP_CHECKMULTISIG, it doesn’t require you to expose the keys that were not used in the signing,” Pacia explains to the BCH community on May 15. Moreover, Pacia shows his demonstration via a block explorer URL which indicates it was a 1 of 8 multi-sig tree signature.

Bitcoin Cash Community Sees OP_Code Innovation After Upgrade
Chris Pacia’s multi-sig tree.

Many individuals were very impressed with the new multi-sig operation that shows innovation in multi-signature technology, and one that could add more BCH privacy in the future. Pacia details his example is a subset of MAST  which stands for ‘Merkelized Abstract Syntax Trees.’ MAST could improve BCH privacy because certain multi-sig scripts could be kept hidden.

“This is like a subset of MAST,” Pacia explains.  

MAST is more general but can’t be done with the current opcodes as far as I know — If we had OP_EVAL then we could I think.

An OP_Code Puzzle With a Message in the Script

After the tree signature our Chief Technology Officer, Emil Oldenburg, also experimented with the Satoshi OP_Codes and created a ‘transaction puzzle.’ When the puzzle is solved it contains a secret message within the hashed script.    

“I made a fun little transaction puzzle with one of the new OP_Codes,” Oldenburg explains.

The puzzle is solved with the string “BCH is the best Bitcoin”. The script is <String1> <String2> OP_XOR OP_HASH256 <hash1> OP_EQUAL. It’s solved by finding the secret String1 that when XORed with String2, after hashing should be equal to hash1.

Etching the Bible’s 23,000 Verses Into the Bitcoin Cash Blockchain

Lastly, another anonymous user is pushing the ‘arbitrary data spam debate’ to the ultimate level. The Twitter handle UK Cryptocurrency showed the cryptocurrency community that a BCH address is currently writing the first testament of the King James Bible to the Bitcoin Cash blockchain at 1sat/Byte. Looking at the Bitcoin Cash transaction ID its Memo states:

1 In the beginning, God created the heaven and the earth.

Transactions following this continue to be written in the BCH chain with each verse that’s found in the King James Bible.

Bitcoin Cash Community Sees OP_Code Innovation After Upgrade
This address is etching the entire Bible into the blockchain.

UK Cryptocurrency estimates that the entire Bible may cost around $100 USD (0.08 BCH) and add around 8MB to the BCH chain. Of course, many Bitcoin Cash fans were excited to see the many OP_Code developments unfold so fast and expect more innovative ideas will sprout down the line.

What do you think about all the OP_Code experimentation over the past day? Let us know what you think about this subject in the comments below.


Images via Shutterstock, Reddit, the Bitcoin.com Block Explorer, and Blockpress. 


Want to see all those Memo posts and OP_Codes in the BCH Chain? Check out Bitcoin.com’s Block Explorer today!

The post Bitcoin Cash Community Sees OP_Code Innovation After Upgrade appeared first on Bitcoin News.

Investment Platform Etoro Launches in the US with 10 Cryptocurrencies

Investment Platform Etoro Launches in the US with 10 Cryptocurrencies

Social trading platform Etoro is expanding into the US. Pre-registration has already begun. Initially, 10 cryptocurrencies will be offered, but the company plans to add more throughout the year. The company’s crypto business has boomed in recent years, with 70% of its users reportedly trading cryptocurrencies.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Etoro Launching in the US

Social investment platform Etoro has announced that it is expanding into the US market. CEO Yoni Assia unveiled the company’s plans at the Consensus conference on Tuesday. According to the announcement:

The launch will initially enable U.S.-based users to invest in 10 cryptocurrencies, with more to be added throughout 2018. Users will have access to a community feed and tools, letting them engage in conversations about cryptocurrencies and follow the investment strategies of other U.S. users.

Investment Platform Etoro Launches in the US with 10 CryptocurrenciesLaunched in 2007, Etoro is regulated in Europe by Cyprus Securities and Exchange Commission and in the UK by the Financial Conduct Authority. The company says it has more than 10 million registered users across 140 countries in Europe, Asia, and Australia, with an accumulated capital funding of more than $162 million. Currently, its website shows 247,387,974 open trades on the platform.

Assia commented, “Etoro will continue to focus on simplicity and user-friendliness so that more diverse groups will feel welcomed into the global crypto community.”

Pre-Registration Begins for US Users

The company explained that US users can join the waiting list for the platform starting on May 15. “Users will be able to experience the interface and perform mock cryptocurrency investments via a virtual portfolio,” its announcement details, adding:

The 10 cryptocurrencies that will be initially available are: bitcoin, ethereum, litecoin, XRP, dash, bitcoin cash, stellar, ethereum classic, NEO, and EOS. Etoro intends to integrate several more cryptocurrencies throughout 2018.

Investment Platform Etoro Launches in the US with 10 Cryptocurrencies“The platform will offer U.S. investors three ways to access the crypto markets,” Etoro described. The first way is “by manually investing in a coin.” The second is “by automatically copying the trades of other traders on the platform to benefit from their knowledge and investment expertise.” The third is “by investing in a Crypto Copyfund which provides a diversified portfolio of major crypto assets.”

A Copyfund is Etoro’s investment product aimed at helping investors minimize long-term risk, its website states. “Once you invest in a Copyfund, your capital is professionally managed by Etoro’s investment committee. Each Copyfund’s performance is analysed in depth and rebalanced automatically to maximise its gain potential.”

Etoro’s Booming Crypto Business

In January last year, the platform added cryptocurrencies. According to Fortune, “In recent years, the company’s crypto business has boomed with 70% of its users trading digital currency.”

Investment Platform Etoro Launches in the US with 10 Cryptocurrencies
Yoni Assia.

In an interview with the news outlet, Assia predicted that Etoro’s “unusual social media features would help it gain a foothold” in the US. “Those features let users create a public profile of their investments, which in turn allows others on Etoro to track and copy their trading decisions.”

Commenting on the crackdown by the US Securities and Exchange Commission (SEC) targeting tokens that resemble securities, Assia told the publication that he is confident “the digital assets Etoro plans to list are currencies not securities.” He expects Etoro will list as many as 15 tokens by the end of the year, the news outlet conveyed, adding that the company also “plans to open a global wallet and exchange service later this year that is aimed at institutional traders.”

Currently, the aforementioned ten cryptocurrencies are already being offered on the platform for non-US users.

Investment Platform Etoro Launches in the US with 10 Cryptocurrencies

What do you think of Etoro launching in the US? Let us know in the comments section below.


Images courtesy of Shutterstock, Medium, and Etoro.


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Bitcoin Cash Price Watch – BCH/USD Dips Below $1,300 Amid Crypto Selloff

Bitcoin Cash Price Watch

Key Highlights:

Bitcoin Cash failed to crack above $1,400 earlier today. Instead, the coin declined below $1,300, now trading at around $1,250. A major resistance level has been established at $1,290. A decline toward $1,200 could still happen in the short term as the BCH/USD moving averages are trending downward. BCH/USD Dips Below $1,300 On Crypto Selloff

On Wednesday, Bitcoin Cash failed to move above $1,400 but instead fell sharply below the $1,300 price level. The price dip was so steep that it even broke the 76.4% Fib retracement level.

Currently, Bitcoin Cash is ...

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32MB Blocks Means Bitcoin Cash is Prepared for Mass Adoption

32MB Blocks Means Bitcoin Cash is Prepared for Mass Adoption

On May 15, 2018, the Bitcoin Cash (BCH) network upgraded the chain’s base block size from 8MB to 32MB. The software advancement makes blocks big enough to process lots of transactions over time  which gives developers plenty of breathing room to adjust the size if it starts getting closer to its limit. Unfortunately, many misdirected individuals assume the BCH chain will start processing 32MB blocks right away, which could lead to a blockchain chain that’s much larger in gigabyte size and takes longer to download. However, this is not the case right now at all, because BCH miners process blocks that are often still under 1MB, as the 32MB code is only set to ensure the network is capable in the future.

Also Read: Bitcoin Cash Upgrade Milestone Complete: 32MB and New Features

The Successful 32MB Block Size Increase Paves a Path for Mass Adoption

After the Bitcoin Cash network upgraded yesterday and even before the fork, a few misguided individuals asked why there was a need to raise the block size fourfold when 8MB blocks were not filling just yet. The reason developers raised the limit to 32MB is likely because the software is perfectly capable of handling such a task in the future. Right now block size limits are set by the miner, and developers are there to help set the capacity so blocks cannot get full in the immediate future, and fees will remain low for quite some time. Unfortunately for the Bitcoin Core (BTC) network, Core developers let the block size fill beyond capacity, and fees became unreliable during the last quarter of 2017. The 32MB BCH block size adjustment ensures this will not happen to the BCH network down the road, even when transaction usage becomes as extreme as 2017’s last quarter.

32MB Blocks Means Bitcoin Cash is Prepared for Mass Adoption
The Bitcoin Cash (BCH) community and developers are not afraid of forks and protocol upgrades. The May 15th upgrade is the second successful hard fork on the BCH network.

Looking at BCH blocks on Coin Dance — a website which records BCH chain data currently shows that mining limits are being set by the mining pool. Over the past nine months, there have been a few 2,4, and 8MB blocks processed, but typically blocks have been a megabyte or less. So in essence, once miners decide its necessary to increase the block sizes they process, they will do so based on transactions and adoption increasing over time. In fact, current data also shows the Bitcoin Core (BTC) chain is still 34.4GB larger than the Bitcoin Cash chain.

32MB Blocks Means Bitcoin Cash is Prepared for Mass Adoption
After the block size increase miners are not processing 32MB blocks, the upgrade was meant to ensure they can handle that capacity in the future.

 Transaction Data Shows Daily BCH Transactions Has Increased by 186% in Nine Months  

At the moment Bitcoin Cash transactions per day are less than BTC as there are roughly 20-25,000 daily BCH transactions. But there’s also been a misdirected notion that the BCH chain isn’t getting much use, but this is simply untrue as data shows over the past nine months that BCH daily transaction percentage rates have increased. The decentralized currency BCH has seen a steady incline (186%) of use since the August 1 fork and the expansion of BCH transactions are now only 5-10,000 transactions less per day than the Litecoin (LTC) network — a cryptocurrency that has been around for 7 years. This is due in part to many Bitcoin Cash-based on-chain platforms like the tipping bot Tippr, the social media apps Memo and Blockpress, and other applications that help increase BCH usage.

32MB Blocks Means Bitcoin Cash is Prepared for Mass Adoption
In just nine months Bitcoin Cash has more than doubled its transaction count, and the BCH daily transaction rate is just below LTC’s daily transactions per day.

32X the Capacity is Merely Preparation for the Future of Bitcoin Cash Adoption

Essentially the bottom line is the software is now capable of processing 32MB blocks as it was previously capable of 8MB blocks. So far BCH miners had proven the capability of mining much larger blocks than 1MB multiple times, clearing thousands of transactions from the mempool. After the successful fork on May 15, some BCH supporters are already asking developers to remove the block size limit entirely.

32MB Blocks Means Bitcoin Cash is Prepared for Mass Adoption
The hilarious TX Highway has updated to 32 lanes.

Moreover, we know from testing that the Bitcoin software is capable of processing gigabyte blocks, and research studies further suggest the network could handle terabyte blocks as well. Unlike other digital asset developers, BCH programmers have set the bar high for capacity based on the known advancements in scaling a cryptocurrency network. Instead of saying “we don’t need to scale now,” the 32MB increase establishes a base block size that can efficiently handle 32X more transactions than the BTC network’s highest daily transaction rate recorded this past December.

What do you think about the 32MB block size upgrade? Do you think that the developers should remove the capacity limit entirely? Let us know your thoughts in the comments below.


Images via Pixabay, TX Highway, Bitinfocharts.com, and Coin Dance. 


Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics.  

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Bitcoin Cash News: Roger Ver Still Bullish; Network Updates; BCH Down

Bitcoin Cash news

Bitcoin Cash (BCH), ranked as the fourth largest cryptocurrency, is down today — as with the rest of top-ten coins, though. This may come as a surprise to some, considering there was some major Bitcoin Cash news circulating yesterday. Specifically, news regarding Roger Ver and his bullish stance on Bitcoin Cash (BCH). 

Bitcoin Cash (BCH) Daily Chart 

Bitcoin Cash (BCH) is currently selling for $1,282.43. This puts BCH down 6.40% in the past twenty-four hours. 

Source: CoinMarketCap

Bitcoin Cash (BCH) has a market cap of $21.97 billion, putting it below ...

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