Bitcoin Cash has moved from strength to strength over the past few weeks, take a look at a recent article of ours, which discusses the path of Bitcoin Cash a little more specifically- https://cryptodaily.co.uk/2018/05/will-bitcoin-cash-move-2000-00/
At the moment, the team behind Bitcoin Cash are working towards a planned Hard Fork, which is due to occur next week. The fork has been implemented to allow for an upgrade to the size of the blocks operating on the Bitcoin Cash network. They will be upgraded to 32Mb specifically, in order to allow for enhanced, low-fee transactions and what the team are calling “unbounded innovation”.
In anticipation for this, complimented by a good run for Bitcoin Cash, at the time of writing, the currency is valued at $1,656.34 and is up 7.74%. This great progression could very well be a sign of things to come, as Bitcoin Cash makes tracks towards $2,000.00, a target many investors are now simply waiting for. As the days pass, it just seems to be a case of when, and not if, anymore.
News out today introduces a new group of people working on the Bitcoin Cash project. The Cash Consortium (C2) is a new community which has been established to generate new standards that will facilitate the growth of Bitcoin Cash in the long term.
Introducing The Cash Consortium: “The Cash Consortium (C2) is an international community that develops open standards to ensure the long-term growth of Bitcoin Cash.” https://t.co/TI6Bh7MgPc@cgcardona pic.twitter.com/q1WG1oSgFL
— Bitcoin (@Bitcoin) May 10, 2018
Their mission is to enable Bitcoin Cash to reach its full potential through the development of protocols and guidelines. They believe that Bitcoin Cash is a smart money, with the capacity to enable smart contracts, tokens and ICO’s among others. According to C2:
“Money is critical to the human condition. Bitcoin Cash and Blockchain technology enable financial sovereignty in a way which is unique in history. One of C2’s primary goals is to make these benefits available to all people, whatever their age, gender, nationality or financial status.”
What does this mean for Bitcoin Cash?
Well, as I have mentioned the currency seems to be making its own way to $2,000.00. This announcement has had no clear impact yet but as news breaks we could expect to see this have a positive impact on the value of Bitcoin Cash, potentially driving its value up.
The introduction of C2 means more and more people can start to get involved in the background operation of the currency, creating more roles within the blockchain revolution for ordinary people to start to play a part in.
Couple this with the upgrade due to take place next week and you can see that this is a very exciting time for Bitcoin Cash. The currency is making progress and the community is expanding.
For now, we expect to see Bitcoin Cash make solid progress into next week. Our advice for now is to simply keep an eye on the value of Bitcoin Cash and monitor its performance closely. Whilst the upgrade seems promising, things can go wrong and of course the markets can take drastic turns. Remember this is not investment advice, regardless of that though, it is more than okay to remain optimistic about the future of this currency!
Look after your assets and they may very well look after you.
Featured Image Original Source: Pixabay