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Bitcoin Cash’s Big Upgrade Seeing it Go From 8MB to 32MB, and What it Means

  • Darryn Pollock
    ⭐ Features

    Bitcoin Cash is set to take on a major upgrade in May, but what will this mean for Bitcoin’s biggest rival?

Bitcoin Cash’s Big Upgrade Seeing it Go From 8MB to 32MB, and What it Means
Cover image via u.today

On May 15, Bitcoin Cash, the biggest rival to Bitcoin, is going to be upgrading in a major way for the second time since its inception. This latest upgrade is aimed at making the Blockchain more robust, with the main feature of it being the substantial increase in block size.

The upgrade will raise the size of Bitcoin Cash’s block to a whopping 32MB from 8MB. In perspective, the size of a Bitcoin block tops out at between 1MB and 2MB- in exceptional circumstances.

More transactions

Bitcoin Cash has always based itself on being a coin that can handle a lot of transactions, quickly and cheaply. This has been accomplished by having larger blocks from the outset as the debate between Bitcoin Core and Cash raged on since last August and before.

This increase in size will once again allow even more transaction to happen per block, but it will also increase the “OP_RETURN” field from 80 to 220 bytes, allowing users to store data on the Blockchain. This function paves the way for use cases like time-stamping, rights management or asset creation.

Return of smart contracts

Another big chance, or reinstated change, will see some types of smart contracts, removed previously over concerns that they could allow the Blockchain to be hacked, be reintroduced.

Steve Shadders, a developer for nChain, said in a blog post:

“Essentially out of an abundance of caution and lack of time to fully explore and fix the edge cases that needed to be addressed, the decision was taken to simply disable any opcodes around which there were doubts or even hints of doubts.”

This is a rather big step for Bitcoin Cash as it makes the cryptocurrency which is solely predicated on quick transactions, a little more versatile.

Increased interest

Bitcoin Cash has been growing in value recently with the latest upturn in the market. However, there is still speculation as to why. It was reported that perhaps it had to do with miners burning a portion of coins to help with scarcity, but that has been refuted.

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About the author

Darryn Pollock is an award winning  journalist from Durban, South Africa. He picked up Vodacom’s Regional Sports Journalist Award in 2017 while expanding his Blockchain and cryptocurrency reach.  He is a contributor to Forbes, Cointelegraph, Binary District, and of course, U.Today. Darryn’s belief is that Blockchain technology will be the driving force of the next technological wave and it is the obligation of journalists and writers to tell its emerging story with integrity and pride.

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📰 News
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Ripple's XRP Is in for ‘Explosive Growth’, Prominent Venture Investor Tim Draper Says

  • Yuri Molchan
    📰 News

    A Bitcoin bull and investment guru Tim Draper predicts the calm before the storm for the XRP price, as “to call Ripple developers actions wrong is impossible”

Ripple's XRP Is in for ‘Explosive Growth’, Prominent Venture Investor Tim Draper Says
Cover image via en.wikipedia.org

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

When asking a question about when XRP is going to hit its quickest high profits in the quora.com forum, a user gets a reply from Tim Draper himself, who says that the XRP price is about to experience an ‘explosive growth’.

Tim Draper is pumping XRP

Tim Draper, a prominent venture investor and a Bitcoin bull, seems to be excited by the current Ripple expansion. Judging by his words, he is predicting the XRP to soar in the short term, calling it the calm before the storm or ‘explosive growth’, putting it a different way.

Tim Draper says:

“Looking at the three-time growth of Bitcoin over the past 5 months, one would expect a similar result from XRP.”

XRP should have already grown beyond $0.6 or even $0.9 by now, says the crypto investor, when talking about the results of recent Ripple’s expansions and the partnerships the crypto unicorn has initiated lately.

“The company is actively developing, expanding the sphere of influence, enlisting the support of large financial institutions and constantly improving the technology of transfers.”

Finally, he states:

“In addition, Ripple is owned by SBI, a large corporation with companies such as R3. Everything indicates that the current situation, only the calm before the storm, in our case, before the explosive growth.”

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Ripple Opens New Office in the Heart of Washington, DC, to Educate US Lawmakers

Ripple Opens New Office in the Heart of Washington, DC, to Educate US Lawmakers

Ripple expands to Washington, D.C.

Previously, U.Today reported that the crypto giant has decided to expand its presence to Washington, D.C., to be closer to regulators, as per the CEO Brad Garlinghouse, and educate them on crypto and the blockchain.

He stated to Forbes:

“We’re focused on maintaining a dialogue with Washington regulators and policymakers and being a resource to the Hill allows us to be easily accessible at all times.”

Apart from extending its arms to Washington, Ripple has joined the Blockchain Association.

 

What is your bet on the price moves XRP is going to take in the near future? Share your view in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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