The Bitcoin Cash (BCH) community is waiting with bated breath for the hard fork, which is slated to take place in May, as indicated by the project’s creators.
The May hard fork of Bitcoin Cash is planned to offer better security and anonymity to the network, with plans for CashTokens that, according to developers, will enable decentralized apps directly on Bitcoin Cash.
Other proposed improvements that have already been locked in include smaller transaction sizes, which reduce transaction times, and smart contracts functionality, which may allow the creation of Bitcoin Cash-based applications that offer payments, derivatives trading, and crowdfunding opportunities, among other recurring uses, to users.
Bitcoin for peer-to-peer use Through a hard fork of the original Bitcoin, Bitcoin Cash was created. Users are drawn to it for a variety of reasons, including quick payments, reasonable costs, secrecy, and a huge volume of transactions.
The price chart data shows that BCH broke through the $129 level yesterday. The strong buying power causes the coin to currently trade at $127.
Along with these crucial traits, Bitcoin Cash may also become legal tender in St. Kitts and Nevis, a country in the Caribbean, as early as March 2023.
Because nations cannot proclaim the money of another country to be illegal, the decision has implications beyond the borders of the island nation. This suggests that Bitcoin Cash could soon have access to a few advantages of a national currency.
Although it hasn’t been confirmed, the notion was said to be in the discussion stage in November of last year. The decision would be in line with those made by nations like El Salvador, which made Bitcoin legal money in June 2021.
Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.