Bitcoin Price Could Hit $15,000 This Year

Christopher Matta, Goldman Sachs

According to my estimates, the recent tx spam on the ETH network cost up to ~$15m USD

Vitalik Buterin
BTC $
68,03
ETH $
68,03
10.08.18
News

Bitcoin ABC Told about the Preparation for the Hardfork of the Network in November

The Bitcoin ABC team has told about preparation for the hardfork of Bitcoin Cash, scheduled for November. By August 15, they promise to prepare a package of changes and then start testing new networks.

As the developers note, Bitcoin Cash is ready for the network update, which will take place in November 2018. The team is finalizing the package of changes. The deadline is August 15. Once the changes are accepted, Bitcoin ABC will officially release the new version (0.18.0) and start testing the network.

One of the changes will affect the minimum transaction size of 100 bytes to prevent attacks on the Merkle tree (a system for storing transactions in the blockchain and their verification). Also, the structure of remuneration will be modified, which allows to reduce commissions for transactions.

This will be the second step in updating the Bitcoin Cash network. The first took place in May this year. Then, in particular, the maximum block size was increased to 32 MB.

On the day of birth of the currency – August 1 – Bitcoin Cash network processed a record number of transactions in 24 hours, exceeding the previous maximum almost seven times. In just a day, the network conducted 687 thousand transactions. This figure even exceeded the number of transactions in the bitcoin network. Now, the network of the main cryptocurrency processes an average of 150-300 thousand transactions per day. And the maximum was noted in December 2017, when 490 thousand transactions were recorded in the bitcoin blockchain.

A known supporter of the hardfork and crypto-millionaire Roger Ver in his Twitter account noted the new record and said that Bitcoin Cash had got ahead of the main bitcoin network by the number of transactions per day. According to him, this proves once again that BCH is a successfully used electronic money system. And BTC is not.