Bitcoin Update

in bitcoin •  3 months ago

Bitcoin ABC is the development team behind the fourth largest cryptocurrency, Bitcoin Cash. The digital asset was hard forked a few months back to increase the block size in addition to other significant upgrades. The team has today announced that the network will be updating again on November 15. Bitcoin ABC has decided to roll out the updated in advance to give enough time for people to get on board for the update.

The new update is already available for downloading. As matter of fact, Bitcoin ABC has called out to the community to download it and implement it. However, the effects of the update will only go live on November 15. The announcement by ABC says:

“We are pleased to announce that Bitcoin ABC 0.18.0 has been released. You can download it at: https://download.bitcoinabc.org/0.18.0/. The goal of Bitcoin ABC is to help create sound money that is usable by everyone in the world. We believe this is a civilization-changing technology which will dramatically increase human freedom and prosperity. Bitcoin ABC 0.18.0 represents the next step towards this goal. Bitcoin ABC 0.18.0 includes implementation and activation of the Bitcoin Cash network upgrade that will take effect on Nov 15, 2018. All users of Bitcoin ABC should upgrade to version 0.18.0 as soon as possible.”

The upgrade will encompass a new opcode referred to as OP_CHECKDATASIG, which is tailored towards making BCH scripting language have the ability allow the validation of messages that come from without the blockchain. This upgrade is going to support the utilization of oracles as well as cross-chain atomic contracts.

Another upgrade included is canonical transaction ordering. This can be seen as a foundation block for future massive scaling improvements. In addition to that, some minor technical fixes will take effect too.

These improvements are being put in place to ensure that everyone in the Bitcoin Cash community has a great experience, from the miners, investors, and developers. The developers of Bitcoin Cash are striving to make BCH use a better experienced for that average user as adoption increases. The announcement went ahead to say:

“We aim to work in the best interests of miners, investors, and users of Bitcoin Cash, and to collaborate and coordinate with other teams and projects in the Bitcoin Cash ecosystem. Bitcoin ABC 0.18.0 grew out of this collaborative process.” Bitcoin ABC added “To become a solid base for application development and innovation, Bitcoin Cash needs to continuously improve and compete. At Bitcoin ABC, we are working diligently building a technical foundation to enable Bitcoin Cash to be the best money the world has ever seen.”

At the time of writing, Bitcoin Cash is trading at $537. The price has recovered fairly well following a dip towards the primary support at $500 but instead, it formed a low of $510.52. BCH/USD is primed for more gains on Tuesday, besides the outlook on the chart is quite positive.

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