COINCU on Binance Feed: Bitcoin Cash Community Excited For Upcoming Hard Fork Improvements | Binance Feed

Key Points:

• Bitcoin Cash price is showing positive signs as developers shed light on potential changes to the network ahead of the protocol’s May hard fork.

• With plans for CashTokens that, according to developers, would enable decentralized applications directly on the coin, the May hard fork is expected to add more security and privacy to the network.

Since the hard fork is scheduled to occur in May, as stated by the project’s developers, the Bitcoin Cash (BCH) community is anticipating it with bated breath.

With plans for CashTokens that, according to developers, would enable decentralized applications directly on Bitcoin Cash, the May hard fork of Bitcoin Cash is expected to add more security and privacy to the network.

Smaller transaction sizes, which accelerate transaction times, and smart contracts functionality, which could enable the development of Bitcoin Cash-based applications that provide payments, derivatives trading, and crowdfunding opportunities, among other recurring uses, to Bitcoin Cash users, are other proposed improvements that have already been locked in.

Peer-to-peer cryptocurrency Bitcoin Cash was produced through a hard fork of the original Bitcoin. Users find it appealing for a number of reasons, including speedy payments, affordable fees, privacy, and a high transaction volume.

Mechanism Capital founder Andrew Kang noted on Twitter the BCH charts look insanely bottomed and ready for impulse.

$BCH– Charts look insanely bottomed and ready for impulse– Most BCH whales (Ver, Jihan) either capitulated or inactive– Biggest network upgrade/hardfork in years in May 2023 (more efficient smart contracts, L2 capabilities)https://t.co/sqb2gtE1tS pic.twitter.com/ESaslrDfHv

— Andrew Kang (@Rewkang) January 12, 2023

The price chart data shows that BCH broke through the $129 level yesterday. The strong buying power causes the coin to currently trade at $120.

BCH daily chart. Source: Coincu

Aside from these essential characteristics, Bitcoin Cash may also become legal cash in the Caribbean nation of St. Kitts and Nevis as early as March 2023.

The move is significant beyond the island nation’s borders because countries cannot declare another country’s currency illegal. This means that Bitcoin Cash could soon enjoy some of the benefits of a national currency.

Although the idea has not been confirmed, in November of last year, it was rumored to be in the discussion phase. The move would follow in the footsteps of countries such as El Salvador, which declared Bitcoin a legal tender in June 2021.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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