Bitcoin Cash to Hard Fork Twice in 2018 to Further Increase Blocksize

Bitcoin Cash is seeking to increase the size of their block size again sometime by next year. The developers of the the currency Bcash has stated that they have tentative plans to implement a larger block size. Bitcoin cash to hardfork twice in 2018!

According to a medium term development plan by Bitcoin ABC, (the main development team behind Bcash), their medium term future (6-12 months) are going to be constructed as such and these are actions items on their agenda.

They started off by stating that at the present moment, they have been working with and speaking with various developers and people affiliated to the many projects in the space, like Bitcoin Unlimited, Bitprim, nChain, Bitcrust, ElectrumX, Parity and Bitcoin XT.

They noted that all of these teams are working on independent projects and have their own priorities and have their own processes, but they believe that all of these people share a common vision in regards to the advancement of BCash.

The roadmap consists of key items such as two hard forks. The first hardfork will be for an upgrading method that will require everyone to run the software to carry out the upgrade and will take place in May of 2018. The second hardfork will be carried out in the same manner will take place in November of 2018.

Bcash came from a split in the community over the scaling issue of bitcoin and ever since the split it has seen interesting movements in it’s price. The price is currently sitting at $1,332,92.

The reason why bcash came about can be boiled to the simple aspect of the size of the blocks which are pivotal for the speed of transactions and also for rate for fees. The core developer community of the pioneer bitcoin were not in a rush to implement the changes of increasing to a bigger block size because they didn’t want to cause further issues in the security of the chain, the inherent security being one of the reasons for trust in the coin. So, the people were not happy with the decision of the general bitcoin community at large went their own way and created their own digital currency continuing from the btc chain, they called it bcash. Currently, the block size of bitcoin cash is more than 7 times larger than Bitcoin’s block size at 8MB.

The main team over at bitcoin cash is still continuing to press forward in further developments to improve the their new currency, to stop things such as the loss of user funds. Bitcoin cash created their new chain from the pioneer Bitcoin as stated above, this means that they also used most of the code of their parent (BTC). This causes an issue because they also borrowed the address format as well. If there isn’t careful attention paid by a user to this, they will send bcash to their btc address.

Many users have seen this and are complaining about the fact this needs to be resolved.

This is one of the main problems that will also be solved in the bcash roadmap.

They state 

“We want to make it more reliable, more scalable, with low fees and ready for rapid growth. It should ‘just work’, without complications or hassles. It should be ready for global adoption by mainstream users, and provide a solid foundation that businesses can rely on.

They believe that fees are to be stemmed or slowed down in it’s rise if the block becomes bigger.

They want to make sure that they are constantly improving and they are seeking to do this through the enabling of enhanced features when they believe that it safe to do so. They understand that they must fix the underlying and fundamental problems first and then they start to advance.

The advancements would include upgrades such as timestamping, representative tokens, more complex transaction scripting and more.

It is in their intent to want to make certain that they are accounting for the voices in their fragmented community and know that there are other parties that must also collaborate to make significant changes.

The team is also calling on people to assist and saying that now is the time to act when adding to the code and developing alongside them to improve the system.

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