BCH Supporters

Bitcoin Cash Transactions Intensify, Daily Count Nears BTC, Big Blocks Help Clear Throughput

31/01/2021 by Idelto Editor

Just recently, the Bitcoin Cash community has been discussing the large number of transactions the network has been seeing on a daily basis during the last month. Statistics show that bitcoin cash daily transactions have been increasing every day since the last week of 2020. Bitcoin Cash miners have processed upwards of 300,000+ daily transactions on various days during the past week.

The crypto economy and myriad of blockchain networks have been getting a lot more attention during the last few months. Not only has a number of digital assets jumped tremendously in value, but many of these tokens are seeing increased usage as well.

More recently, Bitcoin Cash proponents have been noticing that the BCH chain is handling a whole lot more transactions than usual. Since the last week of December 2020, BCH transaction counts per day have steadily risen northbound and have come awfully close to matching the Bitcoin (BTC) network’s daily output.

At the time of writing, onchain data shows the BCH chain processed 282,010 transactions during the last 24 hours while BTC has processed 334,793 in that time. This shows that BTC is handling 3.87 transactions per second, while BCH does 3.26 at this transaction rate.

Additionally, statistics from messari.io show that bitcoin cash (BCH) is currently the fourth most active blockchain under dogecoin (DOGE). Most of the time during the last month, BCH was the third-most active blockchain.

In terms of settlement, during the last 24 hours data shows the Bitcoin Cash network settled $4.34 billion among 80,529 active addresses. On Friday, Bitcoin Cash supporters discussed the increasing transaction count on Reddit.

One thread noted that on January 29, 2021, BCH had 322.26k transactions compared to BTC’s 322.22k daily count. “Community growth and utility is on the rise, and that’s the most important thing,” the author of the Reddit post stressed. Another person dubbed the “Transaction Maximalist” wrote:

The same throughput but still $0.001 transaction fees. Cool.

Even with the increase in transaction throughput BCH transaction fees have not risen. BCH has a 32MB block size parameter and in September 2018, participants observed the chain processing upwards of 2 million+ transactions in a 24 hour period.

During this period of time in 2018, a time the community called the “stress tests,” BCH miners processed massively sized blocks all week long. Bitcoin cash miners still process very large blocks, while BTC miners still deal with the 1MB limit and segregated witness (segwit) improvements.

On Saturday, BCH supporters celebrated a large 4723.044kB (4.7MB) block at block height 672,532. The large block processed 14,910 transactions and with the 6.25 BCH block rewards only $25 in fees were paid for the transaction confirmation. Software developer Jonathan Toomim talked about the larger sized block on Saturday morning as well.

“This block (672532) was mined at 8:30am UTC,” Toomim said. The previous block (672531) included only [one] transaction (Hathormm, aaarg!). The block before (672530) was mined at 7:12am UTC. So this 4.7 MB block comprised 1h28m worth of transactions. That’s about 0.53 MB per 10 minutes,” he added.

What do you think about the increased transaction count on the Bitcoin Cash blockchain? Let us know what you think about this subject in the comments section below.

Privacy-Focused Brave Users Can Now Purchase Bitcoin Cash Through Bitcoin.com

25/10/2020 by Idelto Editor

The privacy-centric web browser Brave has partnered with Bitcoin.com in order to give users access to cryptocurrencies like bitcoin cash from directly inside their browser. The newly added Bitcoin.com widget has been added to the latest Brave software and is now available to users in various countries.

The latest version of the privacy-oriented Brave browser now has a Bitcoin.com widget that allows people to purchase cryptocurrencies like bitcoin cash (BCH). The widget is available to users in select regions such as the EU, UK, Australia, New Zealand, Canada, and Russia.
Bitcoin.com’s founder Roger Ver tweeted about the recent partnership on October 21. “Bitcoin.com has partnered with Brave to allow users to buy Bitcoin Cash directly inside their privacy-centric browser,” Ver stated.
According to recent statistics, the privacy-centric Browser has roughly 19.6 million monthly users and around 6.6 million active on a daily basis. Brave’s Bitcoin.com widget follows a number of other popular exchange widgets hosted on the browser.
The new widget announcement was extremely popular on the Reddit forum r/btc, as a great number of BCH fans were pleased with the added accessibility. “This is great news,” explained one BCH proponent. “Been using Brave for almost a year now. I think I’ve made about $50 and have tipped a lot of journalists with it.”

“A lot of people love BCH, and the Bitcoin.com service,” Jonathan Sampson, Senior Developer Relations at Brave said on Twitter. “We want these people to be safe, and secure when they’re using Brave. For this reason, a widget helps to protect their transactions,” he added.
Bitcoin cash (BCH) transactions are lightning-fast and fees are always negligible. According to data on Saturday, Oct. 24, 2020, the next block fee for BCH is $0.0014 and the current median fee is $0.0012. In comparison, bitcoin’s (BTC) next block fee is $4.64 and the current median fee is $2.35.

What do you think about Bitcoin.com’s integration with the privacy-centric Brave browser? Let us know what you think about this subject in the comments section below.

The post Privacy-Focused Brave Users Can Now Purchase Bitcoin Cash Through Bitcoin.com appeared first on Bitcoin News.

Bitcoin Cash Community Begins Crafting Q&A Stack Exchange Site to Build Knowledge Base

07/02/2020 by Idelto Editor

On February 6, Bitcoin Cash supporters were introduced to a new BCH-centric Stack Exchange community called bitcoincash.stackexchange.com. The goal of the Q&A site aims to build a “knowledge center” for Bitcoin Cash developers and individual researchers interested in learning about BCH.

Also Read: IOTA, EOS, XLM, ADA – 4 ‘Bitcoin Contenders’ With Zero Use Cases and Barely Any Infrastructure

The Curation of a Bitcoin Cash-Centric Q&A Community Begins

BCH proponents and developers are engaged in bringing Bitcoin Cash to the masses but there’s still a lot of work to be done. In November, BCH developers discussed the creation and maintenance of Bitcoin Cash specifications and Joshua Green and the Bitcoin Verde team have been curating the specs. This week the community was introduced to a proposed Stack Exchange community dedicated to building the knowledge base for the BCH network. Stack Exchange was created in 2009 in order to provide a robust Q&A website filled with topics that cover a variety of fields. The new BCH-based Q&A site intends to grow like the BTC version of Stack Exchange, so BCH developers and researchers can work together to get a better understanding of specific infrastructure and standards. Bitcoincash.stackexchange.com was presented to the community in a read.cash blog post to explain the site’s objective.

The author of the blog post, Nyusternie, explained that the invocation of the BCH-centric Stack Exchange at first starts with a proposal which if approved will become the official Bitcoin Cash Stack Exchange site. “It’s time to start [building] a knowledge center for Bitcoin Cash developers,” Nyusternie wrote. “Bitcoincash.stackexchange.com ‘could’ become a home for Bitcoin Cash developers, enthusiasts, and the like … but first, it will be up to the community to make it happen, by proving our worthiness to the gods of [Stackexchange].” Nyusternie added:

BCH developers must stand trial before the Stack Exchange community.

Building a Significant Bitcoin Cash Knowledge Base

In order to please the Q&A site’s gods, Nyusternie detailed that interested people can propose and create sample questions. Users and developers can participate during the length of the site’s beta period so the platform can grow more robust. “The site is launched for a beta period to seed it with questions, develop the FAQ, appoint temporary moderators, and refine its design,” Nyusternie said. “If a site reaches critical mass, it becomes a full member of the Stack Exchange Network.” At the time of publication, the BCH-based Q&A site listed in the “Area 51” zone has around 20 sample questions. Subject matter includes questions that cover Cashfusion, CTOR, the differences between ERC20s and SLP tokens, fractional satoshis, stablecoin creation, and SPV wallet topics. Currently, people can post questions, upvote, downvote, and attempt to close a specific topic.

Nyusternie’s read.cash post was welcomed on the Reddit forum r/btc and BCH enthusiasts commented on the idea. “Thank you for doing this,” one individual wrote in response to the Stack Exchange concept for growing a rich BCH knowledge base. Nyusternie also noted that not only does a Q&A website dedicated to BCH help people find answers to questions, but it’s one of the most well known sites for educational knowledge about technology, mathematics, and science. Becoming a full member of the Stack Exchange will help BCH search engine discovery on sites like Google and Baidu, Nyusternie stressed. At the moment, bitcoincash.stackexchange.com needs to reach the 40-question minimum to move on to the next phase.

What do you think about the bitcoincash.stackexchange.com Q&A site idea? Let us know what you think about this topic in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Image credits: Shutterstock, Stack Exchange logo, BCH logo, bitcoincash.stackexchange.com, Fair Use, and Pixabay.

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The post Bitcoin Cash Community Begins Crafting Q&A Stack Exchange Site to Build Knowledge Base appeared first on Bitcoin News.

Electron Cash Users Can Now Send Bitcoin Cash to Mobile Phones

07/06/2019 by Idelto Editor

The developers behind the Bitcoin-Cash-based Electron Cash light client have added a slew of new features to the latest 4.0.6 version. Now Electron Cash users can send bitcoin cash to mobile phones via the Cointext service. In addition to this new functionality, the Cashshuffle implementation within the wallet now permits up to 99.9999 BCH per shuffle, instead of the default 50 BCH the platform previously allowed.

Also read: Bitcoin.com’s Local Bitcoin Cash Marketplace Is Now Open for Trading

Developers Add Cointext Functionality to the Latest Electron Cash Release

The Electron Cash wallet is a light client that offers Bitcoin Cash (BCH) users a bunch of versatility and privacy. The wallet was the first to introduce a noncustodial solution for Simple Ledger Protocol (SLP) tokens and Electron Cash (EC) users can create SLP tokens with a specific SLP version of EC. The light client also introduced the privacy-enhancing Cashshuffle protocol to the platform and BCH supporters who utilize EC can shuffle their bitcoin cash for added transaction obfuscation. On June 6, the developers upped the ante once again by adding various improvements to Electron Cash version 4.0.6. The first addition has excited the BCH community as the latest EC version gives users the ability to send BCH to mobile phones via Cointext.

Roughly three weeks ago the BCH-based and open source Android wallet Crescent Cash also added the ability to send coin through Cointext. This means that with EC implementing the Cointext feature, BCH users now have a few noncustodial solutions to choose from if they want to utilize this feature. After the latest EC 4.0.6 version release the Youtube channel Bitcoin Out Loud published a video that shows how EC users can send BCH to any mobile phone. BCH supporters were thrilled to hear the news and discussed the topic on the Reddit forum r/btc.

“Amazing work everyone — This is why BCH has a future,” one person remarked on the forum. “So many epic projects are happening here while ‘other’ projects are stagnating.”

Cashshuffle Shuffle Limit Extended to 99.9 BCH

Essentially, in order to use the Cointext option with EC simply enter ‘cointext: ANY_PHONE_NUMBER’ (e.g cointext:12125551234) in the send tab. There’s also a new transaction dialog feature that allows you to get accurate fees, input addresses and input amounts for any transaction in the wallet. Another notable improvement that should add more liquidity to the Cashshuffle protocol is the raised default shuffle limit to 99.9999 BCH. The former version of EC had a Cashshuffle default limit set to 50 BCH and now a great number of coins can be shuffled at once.

Electron Cash is so far the only wallet that has implemented the Cashshuffle protocol but since the release of the Cashshuffle library and statements from other wallet curators, that will change in the near future. People utilizing the EC wallet to shuffle coins have completed 10,422 shuffles since the official Cashshuffle launch on March 27, 2019. So far, 51,295 BCH or $21 million at current bitcoin cash prices has been shuffled. The latest Cointext implementation offered by the Electron Cash wallet also follows Cointext and Anypay’s recent remittance solution announced on June 3. Bitcoin cash payment processors, supporters and now infrastructure providers who develop wallets are finding great value in providing individuals with the ability to send BCH to any phone with SMS messaging capabilities.

What do you think about EC adding Cointext abilities and the latest Cashshuffle limit increase for shuffling coins? Let us know what you think about this subject in the comments section below.

Image credits: Shutterstock, Twitter, Electron Cash, Acidsploit’s stat page, and Pixabay.

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Cashshuffle Participants Mix $20K of Bitcoin Cash in One Transaction

26/02/2019 by Idelto Editor

Cashshuffle Participants Shuffle $20K Worth of Bitcoin Cash in One Transaction

Over the last few days, Bitcoin Cash (BCH) enthusiasts have been meeting online to mix BCH using the Cashshuffle mixing software for the Electron Cash wallet. A few shuffling milestones took place this week, culminating on Feb. 25 when a massive shuffle saw 152 BCH ($20,000) mixed together in one transaction.

Also read: Lightning Network: Cool Enough for Twitter Jack and Fidelity But Not Iran

Cashshuffle Participants Explore Privacy-Centric Transactions

Privacy is important to most cryptocurrency proponents, and over the last four days, BCH fans have been testing the Cashshuffle platform in order to bolster more fungible transactions. Cashshuffle is a project that’s been developed by members of the Electron Cash team and other BCH programmers. The protocol allows users to create obfuscated transactions by shuffling them together with other participants using a mixing method called Coinjoin. At the moment, there is a Cashshuffle plugin available for the Electron Cash wallet so people can test the pre-release version. Cashshuffle contributor Josh Ellithorpe revealed on Jan. 14 that the protocol was being audited by Kudelski Security in order to make sure the software was robust.

Cashshuffle Participants Mix $20K of Bitcoin Cash in One Transaction — **The Coinshuffle plugin for Electron Cash.**

BCH supporters have been gathering online and mixing coins together using the Cashshuffle protocol. For instance, on Feb. 23, a well known BCH user called ‘Checksum0’ explained one of the first large mixing milestones using the Cashshuffle protocol.

“Cashshuffle just achieved a new record, a shuffling round for 1 BCH including 15 participants, a transaction of over $8,500,” Checksum0 explained. “Cashshuffle is increasing the privacy of its participants and making it harder for chain analysis company to do their work.”

The $20,000 Shuffle

In addition to the participants joining in on the shuffling action, BCH supporter Collin Enstad published a tutorial for people who want to learn how to use the Cashshuffle platform. “One of the Bitcoin Cash projects I’m most excited for finally came out with an easy way to use is Cashshuffle,” Enstad stated after publishing his walkthrough. On Feb. 26, someone asked Openbazaar developer Chris Pacia if there was a difference between Coinshuffle and BTC’s Coinjoin protocol, to which Pacia replied:

It is Coinjoin, but the communication with the server and other participants is done in such a way that nobody else can figure out the mapping between inputs and outputs.

A shuffle that took place on Monday really excited BCH fans when approximately 152 BCH ($20,000) was mixed into a single transaction. Community members on forums and social media celebrated the large transaction by sharing the blockchain explorer link with others. Checksum0 also shared information on the record-breaking shuffle once again and explained the mix may have been the largest shuffle ever recorded.

“Another day, another first for Cashshuffle — We just completed what is, to my knowledge, the largest Coinjoin/Coinshuffle transaction based on total transacted coins,” Checksum0 remarked.

What do you think about the Cashshuffle protocol and the $20,000 shuffle? Let us know what you think about this subject in the comments section below.

Image credits: Shutterstock, Github, and Twitter.

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