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August 1st was a day that had a strong influence on the traditional Bitcoin area. On a market of cryptocurrency Hard Fork became a fact and we need to acknowledge that a new chapter of their history is opening up around the world. However, there are many questions, and the most important of them is whether the division will affect the BTC value?
The Bitcoin market has been searching a solution for technical issues that have been increasing for a long time.
The problem is about the size of blocks that are stiffly 1-megabyte.The growing popularity of the cryptocurrency market has made 1MB of blocks unsuitable. Users have had to endure the prolonged processing time of virtual operations, which have affected the growing additional fees.
Many purchase transactions were not recorded in the block chains, resulting in the extension of the transaction until the next session. Technical limitations have affected on the Hard Fork. What did the market do in such a situation? He created another Bitcoin Cash cryptosystem, which has an 8-megabyte block.
In such way, BCC significantly improved and enhanced the throughput of transaction data. One in ten users on the market accepted this change enthusiastically. As part of the topic of the new cryptocurrency, the information platform www.blockchainbcc.com
has appeared, listing the current BCC transactions. The appearance of a new cryptocurrency does not affect the functioning and security of Bitcoin’s home network. The risk is only taken by the users who have decided to separate and buy BCC. However, when the Hard Fork became a fact, it can be said that the new cryptocurrency was lucky. Just a dozen or so hours after launch, BCC took third place in the market regarding capitalization. The first place is BTC continuously and the second one is Ethereum. BTC is still worth about $ 2700. Thanks to the shared accounting book transaction at www.blockchainbcc.com
, every Internet user can participate in the transfer and authentication of transactions on the crypto market.
It is worth mentioning that the blockchain is also fully protected against unauthorized access, which could affect the security of transactions.
The list consists of consecutive data blocks, containing information about the number of purchases. After filling the data block, another element is created, followed by the next.
What’s next? It is not easy to determine now what consequences can cause Hard Fork.
Anyone can disconnect from the traditional BTC to BCC. The following weeks will show us whether the new cryptocurrency was needed.
In that topic the opinions are different.
Last modified: August 21, 2018
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