Bitcoin Cash [BCH] will unveil its true potential; stress test advancing
Bitcoin Cash [BCH] is gearing up to undergo the stress test on 1st September, 2018 in an endeavour to test the network. The procedure of testing involves participation of large number of individuals and also communities such that in one day bulk of transactions occur. On 1st August, Bitcoin Cash [BCH] community members as a part of practice had lighted up the network by conducting 687,000 transactions on that very day.
1st September is being popularly known as the BCH stress test day. The day will witness the testing of the tools that are designed for conducting huge number of micro-transactions. The true potential in terms of scalability of this cryptocurrency will become evident on this day.
As the block size got upgraded from 8MB to a level of 32MB, the technology behind Bitcoin Cash [BCH] experienced a progress. Consequently, the speed was maintained at 100 transactions each second carrying out 10 million transactions in one day.
Issue of scalability
Scalability is one such issue which has constantly been hovering since the emergence of blockchain technology. Despite, repeated attempts from the developers to resolve the issue on scalability, success has not yet been achieved. In this context, Bitcoin and Ethereum can be cited as an instance for successfully addressing the issue. The problem of scalability is resolved through solutions like SegWit or Segregated Witness by Bitcoin and Sharding by Ethereum. These are referred as the second layer solutions.
On the contrary, Bitcoin Cash [BCH] has not favoured the idea of utilising solutions based on off-chain scalability. In the context of resolving issues pertaining to Bitcoin Core which forms the basis of their inception, both SegWit and BCH can be regarded as competitors. Both of them aim to positively impact the scalability and increase the speed.
For this purpose, on one hand SegWit has reduced the transaction size and on the other hand, BCH enhanced the size of the block present on the network. Nevertheless, the popular wallets that assist in making payments in this digital currency include Coinbase, Ledger, Edge, Exodus, Bitpay, Trezor and others.
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