On August 1, a 'hardened partition' (User Activated hard
fork - UAHF) take place. Members of the bitcoin community are unhappy with the
way this has set up an alternative node called the Bitcoin ABC (the actual
bitcoin network is a multiple node set). Bitcoin ABC can manually adjust
blockchain size, more flexible but not as rigid as the original bitcoin.
Today, Bitcoin was split into Bitcoin Cash, an alternative
cryptocurrency, in a chain split that had been anticipated for months.
Why is bitcoin split?
Currently, blockchain can only carry out transactions with a
maximum capacity of 1 megabyte at any one time, and with the increasing volume
of transactions currently available, such capacity is not enough. It create out
delay.
This has given rise to the need to improve the current
system through two different blocks. Bitcoin Cash will increase the transaction
limit to 8 megabytes. This is very important for Bitcoin owners. If you own
Bitcoin and control private keys, you can also use these private keys to spend
your new Bitcoin cash.
Who is supporting Bitcoin Cash?
According to Garrick Hileman, researcher at the Cambridge
Alternative Finance Center, Bitcoin Cash may receive more support when it is
officially launched. Because millions of bitcoin users will automatically own
Bitcoin Cash, and many web-based e-wallets and trading platforms.
However, the downside of the problem we need to understand
is that Bitcoin Cash can attract a lot of attention once it appears. If support
is not sustained, it will disappear.
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AUGUST 01,2017.
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