According to a post published in the Bitcoin.com blog, in order to enjoy the new Bitcoin Cash update, it’s necessary to implement a new node. The new version of the Blockchain network of this crypto-currency is planned for November 15 of this year.
Thus, before that date, users, individual miners or institutions that use this digital currency, must install the BCHN Node. In this way, this crypto currency will attract the attention of the community.
It is important to note that, by the time of writing, most mining pools are already giving the option of the BCHN. Another aspect that should be highlighted is that this has not been without controversy, because Bitcoin Cash is a very controversial currency.
What is this project about?
Bitcoin Cash, shortly after its scheduled update, remains a focus of controversy. As you know, this kryptonet is a Bitcoin Cycle fork. Although there are other forks, like Litecoin, this one generates controversy because it claims the place of the original one.
Of course, this is no reason for Bitcoin users to be sympathetic. All of this has surrounded Bitcoin Cash with a stormy environment which, with the new update, is taking on a new lease of life.
Bitcoin Cash was born in 2017, according to its creators because of the need to evolve and overcome the problems of the original version. They also accused the first one of having distorted its original purpose, so this new currency was born to take up the project again.
Currently, it is one of the main digital currencies, occupying the number 6 position in market capitalization in the CoinMarketCap ranking. At the time of writing, the price of Bitcoin Cash is $ 294.55 and its market capitalization is $ 5,447,644,974.
The Bitcoin Cash Hash Rate is 2.9 EH/s within a few months of being updated.
New Bitcoin Cash update underway
Unlike Ethereum 2.0, the Bitcoin Cash update won’t be a radical change in the way you mine. The Proof-of-Work (PoW) protocol will be maintained, and the changes will be operated in the Blockchain.
As the ABC team explains, the new update rules have generated distrust in some users. According to the mentioned post, this rule will allow redirecting 8% of the rewards „to the development of the Bitcoin Cash infrastructure“.
Another aspect worth mentioning is that the new BCHN node will be implemented immediately by the network. For this reason, users are recommended to install it as soon as possible.