Bitcoin, Crypto currency, Blockchain

Bitcoin Cash soon, without transaction fees? New Miner Initiative launched

9692ddeff5f48996232ad0e25c1fa44e - Bitcoin Cash soon, without transaction fees? New Miner Initiative launched

The Community around Bitcoin, the Cash tries to make the little brother of the Bitcoins through Upgrades and aggressive Marketing becoming more and more attractive for the crypto market. Two large Bitcoin Cash Mining Pools have now approved the Initiative to eliminate transaction fees completely.

Bitcoin is Cash made with the last Update of the block size from 8 MB to 32 MB for attention. Continue to be organized by Antpool in mid-may, a Coinburn, the burn the in circulation Bitcoin to Cash and, thus, artificially the value of Bitcoin Cash should increase. The effects of this event were, however, rather marginal.

In order to improve the crypto-currency Bitcoin to Cash, and to make the crypto community tasty, there is a new Initiative from Bitcoin to Cash miners of the “Miner’s Choice” in the Mining-Pools to the transaction have determined swipe fees.

To the Initiative so far Coingeek and nChain, as well as ViaBTC and Bitcoin.com . The Mining Pool distribution within the Bitcoin Cash network looks at the time of writing as follows:

The proposal of the Miners Choice Initiative requires that two settings be adjusted in the Mining Software:

  1. The current “Dust Limit” of 564 Satoshis to be removed. Here, it should be able to perform his smallest transactions of one Satoshi.
  2. The Zero Mining Fee will be accepted in each of the mined Block.

For the time being, there should be a set number of free transactions in every mined Block that will accept them.

These measures are intended to support, according to Coingeek the growth and use of Bitcoin, Cash (freely translated):

The Removal of the “Dust limit” is fuelling the growth of the Bitcoin to Cash usage. If only 1 Satoshi can be sent in a single transaction, you can use the BCH Blockchain for many other purposes, and more options for users to create. Micro-payments can even be smaller, up to a Satoshi-payout amount with a Zero (or very small) fee.

Craig Wright, chief developer at nChain, also for the implementation of this Plan and that you can remain competitive in the long term.

How quickly this Plan is implemented remains open. Nevertheless, it remains to be noted that, according to the messages of Coingeek four large Mining Pools, which together represent more than a quarter of the Bitcoin Cash Hashrate, have spoken in favour.

The price of Bitcoin Cash is at the time of writing in 931,97 Euro and moved within the last 24 easy to down with a rate decrease of -4,17%. With a market capitalization of just under 16 billion euros, Bitcoin Cash place 4 of the largest crypto evidenced currencies in the world.

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