Experts criticize the increase in the block of bitcoin cash

Experts criticize the increase in the block of bitcoin cash

Experts believe that the plans of bitcoin cash developers to increase the block volume again have no practical sense and are a marketing ploy..

As a reminder, the bitcoin cash team recently decided to hold a new hard fork on May 15. In addition to the addition of smart contracts and other improvements, an increase in the block size to 32 MB was announced..

However, experts say that the change in volume is completely unreasonable, since at the moment the maximum is used only 1/160 (about 50 KB) of the existing maximum capacity of 8 MB. Therefore, many consider this decision of the developers strange. Previously, Samson Moe, the chief strategic officer of Blockstream, posted a tweet on his page that describes the situation very well..

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The persistence of bitcoin cash, despite the lack of sufficient transaction volume, testifies to the ideological rationale behind this decision. Financial blogger Francis Coppola said the confrontation between VTN and VTS is more like a religious war than a rivalry in technical development..

According to BitInfoCharts, the number of bitcoin cash transactions is now comparable to the Dogecoin tier, which was originally created as a joke. While Bitcoin has this figure 10 times more, and 1 MB is enough for it.

 

Tim Swanson, founder of technical consulting firm Post Oak Labs, said that developers currently only care about marketing, not actually improving the user experience. He refers to the fact that, despite all the loud statements from the developers, the number of transactions on the network does not increase..

It seems that the market is also skeptical about the team’s actions, recently the OKEX exchange stopped trading BCH, citing its «inadequate» liquidity.

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text: Ivan Malichenko, photo: Unsplash

Experts criticize the increase in the block of bitcoin cash

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