Home Bitcoin BCH News Roundup: Transactions Spike, Cashaddr Support and Developer Congress

BCH News Roundup: Transactions Spike, Cashaddr Support and Developer Congress

16 min read

The final seven days have been busy throughout the Bitcoin Cash ecosystem with a slew of bulletins and developments. Kraken trade not too long ago added the BCH-based Cashaddr tackle format and Coinbase open-sourced a utility that makes it straightforward to transform between Base58 and Cashaddr addresses. Additionally, the New Hampshire-based Anypay cost processor is bolstering service provider adoption by providing 10% bitcoin cashback for purchases by means of their level of sale providers.

Also Read: Exploring the SLP Token Universe Built on the Bitcoin Cash Chain

Bitcoin Cash Markets Hold Steady While Transactions Per Day Keep Rising

In the previous week, the BCH market capitalization ($5.55 billion) has surpassed LTC however BCH markets are down roughly 7.8% throughout this era. Each BCH is swapping for $309 per coin and there’s round $1.19 billion in international bitcoin money quantity. The high exchanges buying and selling probably the most BCH on Saturday, August 10 embrace Coinbene, Digifinex, Hitbtc, Bibox, and Okex. Right now the highest buying and selling pairs swapped towards BCH are USDT (52%), BTC (28%), USD (8.7%), ETH (6.8%), and KRW (2%).

BCH News Roundup: Transactions Spike, Cashaddr Support and Developer Congress
BCH/USD value on Saturday, August 10, 2019. Did you know Bitcoin.com offers you the opportunity to purchase bitcoin cash (BCH) and other leading coins? If you’d like to obtain some BCH to use on the Cryptophyl trading platform – check out Buy.Bitcoin.com today

One of the largest metrics rising over the previous few weeks for BCH has been the variety of every day transactions. BCH miners have been processing a mean of 35-40,000 transactions (txn) per day and there have been a number of 24-hour durations above 60,000 txn per day. The inflow of every day transactions is probably going attributed to the Simple Ledger Protocol (SLP) tokens which have seen vital utilization in latest weeks.

BCH News Roundup: Transactions Spike, Cashaddr Support and Developer Congress
Bitcoin money transactions per day on Saturday, August 10, 2019. From April 2019 till at this time, there’s been a gentle rise in transactions per day.

Kraken Adds Cashaddr and Coinbase Open Sources a Cashaddr Utility

On August 8, the San Francisco-based Kraken trade revealed that the buying and selling platform is switching over to BCH Cashaddr-based addresses for all deposits beginning August 15th. The cryptocurrency ecosystem transitioning from the legacy tackle format to the Cashaddr format is essential to the BCH ecosystem. The Cashaddr tackle system was deployed on January 14, 2018, and since then many third-party service suppliers have adopted the format. Bitcoin ABC lead developer Amaury Séchet defined on Thursday that he had contacted Kraken just a few weeks in the past and requested them to change to Cashaddr. “I am happy to see Kraken implement this change — It benefits users by helping them avoid mistakes when depositing funds,” Séchet remarked.

In addition to Kraken including the Cashaddr format, software program engineer Josh Ellithorpe and Coinbase open-sourced a utility to transform between base58 and Cashaddr BCH addresses. The information was welcomed by the BCH group and individuals hope the utility launched by Coinbase and Ellithorpe will carry extra visibility to the Cashaddr format. Electron Cash developer Calin Culianu (Nilac the grim) defined that there’s open supply code for Cashaddr in Python, JS, C++, Go, and extra as effectively.

Anypay Offers BCH Cashback Promo

On Friday the crypto cost processing startup Anypay Global announced a 10% BCH again bonus for individuals spending bitcoin money utilizing the corporate’s system. The following day Reddit person u/Bitcointippingpoint revealed that there are 30 retailers in New Hampshire that settle for crypto by means of Anypay and 27 of those retailers settle for bitcoin money. New Hampshire is called the “Free State” for its massive variety of libertarian residents.

Seven of the BCH retailers are situated in Keene, says Bitcointippingpoint and one other six BCH-accepting retailers are situated in Portsmouth. “14 of the 30 have accepted a payment within the last week,” the Reddit person introduced. “Can attest to using this at the Fresh Press in Portsmouth, New Hampshire — It’s pretty sweet,” explained one other Reddit person discussing the 10% BCH cashback promotion for purchases by means of Anypay’s point-of-sale. Anypay additionally provides a map of all of the crypto accepting retailers

Developer Tendo Pein Reveals Spending Constraints With OP_Checkdatasig

This week the creator of the BCH-based programming language referred to as Spedn wrote a blog post on Honest.cash which detailed some fascinating schemes that may be developed utilizing the opcode OP_Chechdatasig. On August 8, Tendo Pein informed the BCH improvement group that one of many limitations of BCH Script was you can solely specify if one can spend the coin. However, individuals assumed there was no manner of including spending constraints however Pein reveals the way it’s now doable. Pein reveals three forms of constraints like a easy scheme like a Pay to Public Key Hash. Then the developer reveals some extra complicated concepts that may be achieved and makes use of the Spedn language to point out the advantages extra clearly. During the top of the publish which reveals one other instance of a spending constraint dubbed “the fanciest,” Pein demonstrates how OP_Return tokens could possibly be miner enforceable. This explicit demonstration may make OP_Return tokens constructed on high of the chain stronger by backing them with the community’s safety.

BCH News Roundup: Transactions Spike, Cashaddr Support and Developer Congress

Txhighway Visualizer Adds New Features

With the variety of every day transactions selecting up on the BCH chain, many supporters seen just a few points with the transaction visualizer Txhighway.com. Since then the location’s maintainer fastened the web site’s Websockets and up to date the web page. The Txhighway web site reveals a big 32-lane freeway for the Bitcoin Cash community whereas the Bitcoin Core (BTC) community has two lanes out there and in periods of BTC congestion the web site provides a singular perspective of the issue. Now there’s new logos, no reference to older BSV tasks, and there’s now a Badger button out there for donations. Additionally, with the recognition of SLP tokens on the rise, the freeway additionally reveals Spice token transactions on the transfer as effectively.

BCH News Roundup: Transactions Spike, Cashaddr Support and Developer Congress

Bitcoin Cash City Conference and the BCH Developer Congress

Overall, the Bitcoin Cash ecosystem and its members proceed to truck ahead after celebrating the latest two-year anniversary of BCH. In addition to the anniversary celebrations, BCH supporters are gearing up for the Bitcoin Cash City two-day convention subsequent month in North Queensland, Australia. On August 8, Cointext founder Vin Armani announced an open name to all of the builders who work on BCH infrastructure and present BCH merchandise and providers to attend the primary “Developer Congress.”

The BCH builders’ assembly will happen between September 3-5 in coordination with the Bitcoin Cash City convention. This weekend, information.Bitcoin.com spoke with Armani concerning the occasion and what will likely be mentioned.

“The Bitcoin Cash Developer Congress is an initiative, sponsored by Bitmain, with the primary purpose of bringing together developers from across the Bitcoin Cash ecosystem to discuss and debate upcoming projects and protocols which will be put into production within the next 12 months,” the Cointext founder defined.

What do you consider all of the occasions throughout the Bitcoin Cash area over the past seven days? Let us know what you consider this topic within the feedback part under.

Image credit: Shutterstock, Jamie Redman, Txhighway, and Markets.Bitcoin.com

Did you already know you may confirm any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply full a Bitcoin tackle search to view it on the blockchain. Plus, go to our Bitcoin Charts to see what’s taking place within the business.

Tags on this story
Anypay, anypay global, Australia, BCH, BCH City, bitcoin cash, Bitcoin Cash (BCH) ecosystem, Bitcoin Cash City Conference, Cashaddr, Coinbase, Developer Congress, Josh Ellithorpe, Kraken, New Hampshire, North Queensland, SLP, Spedn, spending constraints, Spice, Tendo Pein, Tokens, Transactions per day, Txhighway, Vin Armani

Jamie Redman

Jamie Redman is a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open supply code, and decentralized functions. Redman has written 1000’s of articles for information.Bitcoin.com concerning the disruptive protocols rising at this time.

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