Coin of the day Bitcoin Cash
Bitcoin Cash is peer-to-peer electronic cash for the Internet. It is fully decentralized, with no central bank and requires no trusted third parties to operate.
Bitcoin Cash is the continuation of the Bitcoin project as peer-to-peer digital cash. It is a fork of the Bitcoin blockchain ledger, with upgraded consensus rules that allow it to grow and scale.
"Before we see mass adoption of cryptocurrencies, we need to see a significant reduction in the time it takes to process transactions," said Coelho, CMO of Flashmoni, a blockchain company creating financial solutions for the unbanked and underbanked.
Bitcoin Cash was created with these considerations in mind, using 8MB blocks instead of the 1MB blocks used by the more traditional Bitcoin.
Upcoming Hard Fork
The upcoming hard fork (known as Bitcoin ABC), scheduled for May 15, will give Bitcoin Cash 32MB blocks, expanding its capacity for processing transactions.
The update also will make available to execute "simplified smart contracts" on the bitcoin cash blockchain.
This particular bit of news is what is driving market excitement around bitcoin cash.
The fork will also remove the Segwit protocol, short for segregated witness, the process by which the number of transactions in a block can be increased by moving certain signature data from transactions to the end of the block.
Bitcoin cash was up more than 10% Friday, continuing its outperformance of other major cryptocurrencies, as a competing hard fork approaches on May 15.
Technicals
BCCUSD rose from 700.0 to 1396.0 from April 19. BCCBTC drew a bottom at the 0.091 level and started to grow after 18th of April. Break above 0.12 level, and 100-days EMA confirmed turnaround pattern and fueled further growth. Now the price is in a bullish bias, the daily median of volumes rises. Closest resistance level is 0.16, a breakthrough above this level will lead the price to the 0.17 resistance. Bullish Trend Line and 0.15 level will serve as a support for the uptrend scenario. A breakthrough above 0.12 level and 100-days EMA will dismiss the bullish scenario.
Bitcoin Cash is peer-to-peer electronic cash for the Internet. It is fully decentralized, with no central bank and requires no trusted third parties to operate.
Bitcoin Cash is the continuation of the Bitcoin project as peer-to-peer digital cash. It is a fork of the Bitcoin blockchain ledger, with upgraded consensus rules that allow it to grow and scale.
"Before we see mass adoption of cryptocurrencies, we need to see a significant reduction in the time it takes to process transactions," said Coelho, CMO of Flashmoni, a blockchain company creating financial solutions for the unbanked and underbanked.
Bitcoin Cash was created with these considerations in mind, using 8MB blocks instead of the 1MB blocks used by the more traditional Bitcoin.
Upcoming Hard Fork
The upcoming hard fork (known as Bitcoin ABC), scheduled for May 15, will give Bitcoin Cash 32MB blocks, expanding its capacity for processing transactions.
The update also will make available to execute "simplified smart contracts" on the bitcoin cash blockchain.
This particular bit of news is what is driving market excitement around bitcoin cash.
The fork will also remove the Segwit protocol, short for segregated witness, the process by which the number of transactions in a block can be increased by moving certain signature data from transactions to the end of the block.
Bitcoin cash was up more than 10% Friday, continuing its outperformance of other major cryptocurrencies, as a competing hard fork approaches on May 15.
Technicals
BCCUSD rose from 700.0 to 1396.0 from April 19. BCCBTC drew a bottom at the 0.091 level and started to grow after 18th of April. Break above 0.12 level, and 100-days EMA confirmed turnaround pattern and fueled further growth. Now the price is in a bullish bias, the daily median of volumes rises. Closest resistance level is 0.16, a breakthrough above this level will lead the price to the 0.17 resistance. Bullish Trend Line and 0.15 level will serve as a support for the uptrend scenario. A breakthrough above 0.12 level and 100-days EMA will dismiss the bullish scenario.
