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Bitcoin Cash News: Upgrade Lead To Hard Fork?

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Bitcoin Cash news

Recent Bitcoin Cash news that has announced a November protocol upgrade has led to a serious difference in opinion. In fact, things got so heated that many are wondering whether BCH will have to go through a hard fork as a result. So far, the community has classified all the network changes as only recommendations, instead of ‘a consensus’.

The changes that are ‘recommended’ include enforcing a minimum transaction size, enabling two new opcodes, removing topological transaction order constraint, enforcing a new rule called “push only” for scriptSig, as well as enforcing canonical transaction order, and a rule called “clean stack”.

Bitcoin Cash news leads to a civil war

After the Bitcoin Cash news of the upgrade was announced, a large dispute followed. At it center, there is Bitmain Technologies, with its co-founder Jihan Wu. Against Bitmain, there is CoinGeek, which is led by Calvin Ayre.

The new update is scheduled to arrive on November 15th. However, as this date approaches, tensions are only getting higher from both sides. Each of the mining giants has their own ideas for the software update, with Bitmain claiming that the network should allow developers to create new tokens, as Ethereum’s does. Additionally, Bitmain wants a token burn, which is an idea also backed by Roger Ver, who is also known as ‘Bitcoin Jesus’.

As expected, CoinGeek is against these ideas, and it started rallying behind another software upgrade, going by the name of Bitcoin SV. This would revert the network back to some older characteristics, which were a part of Bitcoin’s original network. Additionally, it would increase Bitcoin Cash block size to 128 megabytes. Basically, the block size would quadruple in size.

Is hard fork the only solution?

So far, the dispute seems to be an unsolvable issue, except via a hard fork. Both sides wish BCH to change in accordance with their own wishes, and in the meantime, the consensus is still not achieved. November upgrade approaches quickly, and if the solution is not found soon, the fork can definitely be expected.

This is why Bitcoin Cash community needs to make a choice before the time runs out, and the deadline arrives. Whatever happens in the end, the current situation puts Bitcoin Cash at the center of yet another dispute.

Many are also wondering how will this Bitcoin Cash news affect the coin’s price? It is no secret that BCH has suffered a lot due to this year’s bear market, which is something that it has yet to recover from. Its price has dropped from over $4,000 in January to its current $517.50.

Recent predictions seem to be optimistic, with some of them even claiming that BCH might hit $6,700 before the year ends. However, if things do not get resolved, and a hard fork is performed, this might never happen. In the end, it all comes down to the community and its decision.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Blockchain technology outshines Bitcoin and Gold during global pandemic

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As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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