It seems that Bitcoin cash (BCH) infrastructure continued to witness growth nearly two weeks ahead of the hard fork scheduled for May 15. That means adding the block size to 32MB apart from re-enabling some OP_Codes too. The digital coin price has already delivered more than 139 percent returns in the last six-month period while the last seven days saw its price jumping about 13 percent. Significantly, bitcoin was the most traded virtual coin that was swapped for bitcoin cash on Thursday capturing as much as 39 percent of total trades.
Infrastructure Support Increased Significantly
Bitcoin cash infrastructure, as well as, support witnessed significant increase due to a number of projects apart from the announcements made this week. For instance, Blockchain wallet disclosed that balances of BCH could be visible in iOS mobile wallets. This apart, Memo platform witnessed some upgrades. As a result, there was a bunch of traction. Aside from these, a fresh social media app, known as Block press, was also launched on Thursday. This is much like the Memo app, news.bitcoin reported. These are few catalysts that show the increasing importance of bitcoin cash infrastructure.
Currently, the BCH chain is more than 7,500 blocks, which is well ahead of a leader in the cryptocurrency segment, bitcoin core (BTC) chain. This apart, the operation level of BCH is about 15.21 percent of bitcoin core’s difficulty while it is profitable by over three percent to mining bitcoin cash today. Incidentally, BCH is the hot coin that demonstrated the most swapping in the top digital currency exchanges of Okex, Bithumb, Bitfinex, Upbit, and Houbi. As a result, BCH crypto community remains positive on the virtual coin.
The branding of bitcoin cash symbol among the automobiles was seen throughout the world this week. This apart, BCH is also trending on the social media platform for 4chan. Another key release this week was the BRD Wallet’s ‘Augustus’ version. It would fully support in-wallet trades, as well as, bitcoin cash. On top of these issues, Bitpay developers have upgraded Bitcore-lib-cash protocol that extends support for the upcoming week’s event of the hard fork for new OP_Codes apart from bigger blocks and updated carrier size.
As far as the swapping of currency, the Korean’s domestic currency has made a significant increase in bitcoin cash pairs in the last week. The volume from Upbit and Bithumb supported these metrics. There are about 17.108 million bitcoin cash in circulation. This meant a market value of more than $25 billion.
On the whole, the proponents of bitcoin cash are the excited lot with not only the recent developments but also the future of the BCH economy. The proponents are confident about the increasing development environment as the hard fork is nearing close. This meant that supporters are keen to have the next upgrade since they are expecting additional strong features to the network of bitcoin cash.
Aside from these, there are also commitments of construction of UTXO and modifying the Difficulty Adjustment Algorithm (DAA). These would enhance BCH block times and at the same add a PID control algorithm.…