31 Jul '17, 8pm

Bitcoin Cash 101: What Users Need to Know Before Tomorrow's Fork

Bitcoin is headed toward a fork tomorrow. Whether that happens for sure remains to be seen, but if it does, and you hold bitcoin, there are a few things you will want to keep in mind. First, starting August 1 at about 12:20 UTC, mining pool ViaBTC will give miners who are a part of its pool the option to direct their computing power to a new, controversial software client known as Bitcoin ABC. Should enough miners take up that option, the result will be a permanent divergence in the bitcoin blockchain and the creation of a new cryptocurrency known as Bitcoin Cash, or BCC. Proposed by developer Amaury Séchet, Bitcoin ABC is an alternative protocol that will boost bitcoin's transaction capacity. The client increases bitcoin's block size parameter to 8 MB and removes the long-debated code optimization Segregated Witness, which is due to activate on the main bitcoin blockchain...

Full article: https://www.coindesk.com/bitcoin-cash-101-need-know-tomor...

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