The value of Bitcoin Cash (BCH) experienced a surge of up to 6% in anticipation of a significant update to its mainnet. This update, known as a hard fork, will enable developers to create tokens on top of the network and introduce other improvements. The hard fork is planned for Monday around noon time UTC and aims to enhance the security and privacy of the network.
Bitcoin Cash Prices Bump Ahead of CashTokens Upgrade
Bitcoin Cash (BCH) experienced a price surge of up to 6% ahead of its upcoming mainnet upgrade. The hard fork is scheduled for Monday at noon time UTC and will facilitate the creation of tokens on the network, among other enhancements, aimed at improving the security and privacy of the network.
“CashTokens” will be introduced to enable decentralized applications directly on Bitcoin Cash, while other enhancements include smaller transaction sizes to expedite transactional times and smart contract functionality that can be used to develop Bitcoin Cash-based applications offering various services to users, such as recurring payments, derivatives trading, and crowdfunding opportunities.
This development is fueled by a growing interest in tokens issued on Bitcoin, particularly after the launch of the ‘Bitcoin Request for Comment’ (BRC20) tokens, which allow developers to issue tokens natively on Bitcoin. As of Monday, over 11,000 tokens have been issued on Bitcoin with a cumulative market capitalization of $500 million, down from $1.5 billion earlier this week, as per OrdSpace’s BRC-20 data.
To acces BCH’s official website: bch.info
To access more crypto news: cryptodataspace.com
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