bathoyol
5 months ago  Karma: 105
Is there any immediate benefit of the Bitcoin Cash (BCH) Hardfork from 8mb to 32mb when 8mb is not 50% utilized

When there is an upgrade in tech or code one expect to see a challenge that the upgrade have solved. But when an upgrade is done just for psycological reasons or futuristic reasons they immediate benefit becomes blurred. In the light of this, i want to know if the BCH upgrade is to show BTC that space size increase is possible or that there is an immediate problem that it solves for the coin.

en
#Cryptocurrency
#coding
BCH
bitcoin
bathoyol
5 months ago  Karma: 105
Is there any immediate benefit of the Bitcoin Cash (BCH) Hardfork from 8mb to 32mb when 8mb is not 50% utilized

When there is an upgrade in tech or code one expect to see a challenge that the upgrade have solved. But when an upgrade is done just for psycological reasons or futuristic reasons they immediate benefit becomes blurred. In the light of this, i want to know if the BCH upgrade is to show BTC that space size increase is possible or that there is an immediate problem that it solves for the coin.

en
#Cryptocurrency
#coding
BCH
bitcoin

ONE ANSWER
andrei.popescu
5 months ago Karma: 419

Hi,

For me, it is clearly forward-looking.
Here's how they explained it in their own words:

"The first major change is the tripling of the block size limit from 8 to 32 MB that is a forward-looking adjustment to accommodate greater transaction throughput per block. I feel better that this block size growth is occurring now, while the usage of Bitcoin Cash still has ways to grow, rather than later when the network is at full throttle.
This the larger block size gives Bitcoin Cash some room to scale, something that other blockchains have been looking to tackle in other ways, e.g. Lightning Network and Proof of Stake. This makes Bitcoin Cash somewhat unique because it attempts to solve the scaling problem at the consensus protocol layer while maintaining the Proof of Work model."

Source: https://coincentral.com/bitcoin-cash-hard-fork/.

Guess only time will tell if it's the right approach or not.

Thank you.

Hi,

For me, it is clearly forward-looking.
Here's how they explained it in their own words:

"The first major change is the tripling of the block size limit from 8 to 32 MB that is a forward-looking adjustment to accommodate greater transaction throughput per block. I feel better that this block size growth is occurring now, while the usage of Bitcoin Cash still has ways to grow, rather than later when the network is at full throttle.
This the larger block size gives Bitcoin Cash some room to scale, something that other blockchains have been looking to tackle in other ways, e.g. Lightning Network and Proof of Stake. This makes Bitcoin Cash somewhat unique because it attempts to solve the scaling problem at the consensus protocol layer while maintaining the Proof of Work model."

Source: https://coincentral.com/bitcoin-cash-hard-fork/.

Guess only time will tell if it's the right approach or not.

Thank you.

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