The fork will take place on May 15th. Are you ready for the new BCH?

Tomorrow is May 15th, the day of the Bitcoin Cash hard fork upgrade. The hard fork upgrade that has been talked about for more than a month is finally here. This hard fork upgrade will bring earth-shaking changes to the future of Bitcoin Cash. Are you all ready to welcome the brand new BCH?

Before the hard fork upgrade arrives, let me reiterate the changes. There are three main aspects: Increase the block size from 8MB to 32MB. Add some OP-Codes again and increase the OP_RETURN data carrier size to 220 bytes. Another thing is the specific time of this hard fork upgrade so that BCH holders and full node operators can prepare. It was mentioned before that the consensus mechanism of this hard fork upgrade is based on the "Median Time Past (MTP)" method, and the activation time of MTP is 1526400000. It is about 16:00 UTC on May 15, 2018, which is about 00:00 Beijing time on May 16, 2018. This time is a little different from the time mentioned for the first time, so everyone should pay attention to it.

Finally, let’s see if all node operators have upgraded to the latest version. According to the Bitcoin Cash node data, 69.2% of the nodes running Bitcoin ABC code have been upgraded to the latest version 0.17.1, and 84.4% of the nodes running Bitcoin Unlimited code have been updated to the latest version 1.3.0.1. In other words, more than 70% of the Bitcoin Cash nodes have been updated to the latest Bitcoin Cash version, just waiting for the Bitcoin Cash hard fork upgrade. This will indicate the success of this hard fork upgrade.

price

No matter when, the price of Bitcoin Cash has always been the focus of many holders. The hard fork upgrade of BCH is bound to have a certain impact on its price. Many experts speculate that the hard fork upgrade of Bitcoin Cash on May 15 will push BCH's market value back to the top three.

Olleh, a Twitter user, said: “I am very excited about this hard fork upgrade. BCH has been fluctuating with Bitcoin for a long time. When Bitcoin Cash enters the top three in market capitalization, it is only a matter of time before it surpasses Bitcoin.”

Tokens

This upgrade adds OP-Codes to Bitcoin Cash. Jimmy Nguyen, CEO of nChain, said: "The second key upgrade is to restore certain OP-Codes that have been deactivated in the Bitcoin script language. When these OP-Codes are added to BCH, the BCH network will have the functions of colored coins and smart contracts. This will change the rules of the game for cryptocurrencies because Bitcoin Cash will combine an efficient payment method with advanced technical functions." This also means that some companies are likely to launch ICOs and create tokens on the Bitcoin Cash network.

application

Recently, the Bitcoin Cash-based social media Memo and Blockpress have launched some new features. Users can not only add text to the Bitcoin Cash chain, but also add pictures and videos. When the hard fork upgrade expands OP_RETURN to 220 bytes, these applications will have more room for development and launch more interesting features.

In order to welcome the upgraded BCH, the community has also taken some actions recently.

Last week, a Bitcoin Cash organization called Cash Alliance (C2) was established to strengthen the development of open standards to promote the long-term development of Bitcoin Cash. The establishment of open standards will enable more developers to understand the advantages of Bitcoin Cash, participate in the development of the Bitcoin Cash network, and launch some Bitcoin Cash-based applications.

The second is the Bitcoin Cash community's "BCH Geek Contest". These activities not only promote the new features of BCH, but also encourage more developers to participate and launch some interesting applications based on BCH.

Regardless of whether you are ready to welcome the new BCH, BCH will appear before us with a new face.