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Bitcoin Cash is on the surge ahead of its scheduled upcoming hard fork network upgrade. Bitcoin Cash (BCH) exploded back into the list of top ten companies based on their market capitalization after a compounded rise of 68% for the week.
Bitcoin Cash (BCH) Price Surged, Hard Fork Ahead
The per coin valuation of Bitcoin Cash (BCH) climbed from the mark of $1,068 to $1,462 in just a matter of 24 hours, adding to a significant increase from its weekly low in the range of $800.
This rebound of what was once a mainstay of the top-10 lineup comes just over a week prior to the scheduled bi-annual hard fork of Bitcoin Cash on May 15, which will be introducing two small but not insignificant tweaks to the network.
One sees the removal of the unauthenticated dealing chain limit of Bitcoin Cash, allowing for more microtransactions to be broadcasted without having to wait for a block authentication.
On Bitcoin Cash (BCH), blocks are mined every 10 minutes and the old chain limit which was not confirmed was capped at 50 dealings. This ultimately allowed for high-volume apps to make 50 near-instant dealings before the need for confirmation in a block.
However, it should be known that this cap is going to be removed entirely in the upcoming hard fork.
Major Alterations Scheduled for May 15
Another significant change that is scheduled to occur is the introduction of “OP-RETURN” outputs. As of now, the blockchain of Bitcoin Cash allows for the placing of the variegated data into a transaction like text, images, or other data types.
The upcoming upgrade will be allowing for multiple pieces of variegated data to be inserted in a single transaction.
Both the changes feasibly open up Bitcoin Cash (BCH) to higher volume usage and making it even more amenable to the current and famous apps such as non-fungible tokens.