I woke up this morning and look at my calendar, two more days to go for the Hard Fork will create a new version of Bitcoin called "Bitcoin Cash". This hard fork will be holding On August 1, 2017, 12:20 PM UTC, all Bitcoin will automatically turn Bitcoin Cash. Some group cryptocurrency miners, investors, and Bitcoin users will upgrade the Bitcoin protocol as specified by the User Activated Hard Fork (UAHF). Miners implementing the User Activated Hard Fork will safely split away, creating a new version of Bitcoin called "Bitcoin Cash".
Investors and Bitcoin should not be worried about all Bitcoin will automatically own Bitcoin Cash.
Bitcoin Cash In Details
Let me discuss a little bit about the new features as mentioned by the Bitcoin Cash Team:
- Size Limit Increase - Bitcoin Cash presents a lousy lot-wished relief to users with an immediate boom of the size restricts to 8MB.
- Replay and Wipeout Protection - Should chains persist, Bitcoin Cash minimizes user disruption, and allows safe and nonviolent coexistence of the two chains, with properly concept out the replay and wipe out protection.
- New SigHash Type - As a part of the replay protection generation, Bitcoin Cash introduces a new way of signing transactions. This also brings extra blessings together with enter fee signing for advanced hardware wallet security, and removal of the quadratic hashing hassle.
- It removes SegWit, a code change that would activate at the Bitcoin blockchain with the resource of the quit of August.
- BCC's transaction records could be equal as Bitcoin's – at least up until the thing of the break-up.
important rule during access your Bitcoin cash.
There are to important rule that you need to know about Bitcoin cash:
Protect Your Private Keys
It is very important to keep you key (don't disclose your password or look) because the private key is the same thing as password, "key" refer to the actual code used to control your funds (your coins) on the Bitcoin blockchain.
Do not Transfer Bitcoin During or Immediately Following the Fork
During the folk all user should at less wait for 3-5 days before making any transaction, this is very important because the network may not be suitable during this period and may be attacked deal to the bad network.