Bitcoin Cash developers will upgrade the said crypto coin on May 15 via a hard fork to increase the coin’s block size and to add smart contract functions to its network.
The upcoming Bitcoin Cash fork will activate on 16:00 UTC May 15 when the Median Time Passed (MTP), which is the same method used on Bitcoin to create Bitcoin Cash, of the most recent 11 blocks is equal or more than 1526400000.
The most significant change that will happen during the hard fork is the increase of Bitcoin Cash’s block size from 8MB to 32MB. With a large block size limit, Bitcoin Cash will provide cheaper fees and faster transaction speeds than Bitcoin. The 32MB blocks will allow the cryptocurrency to handle massive payment volumes which can easily surpass Bitcoin’s payment volume.
Operational codes or op-codes will be added to Bitcoin Cash during the fork. This will give the cryptocurrency basic smart contract-like functions that are similar to the Ethereum network. Bitcoin Cash op-codes can be used for non-trivial cash use such as the creation of tokens, which can represent various company assets. In the near future, startups or other companies may utilize the Bitcoin Cash network when launching an ICO campaign.
Previously, op-codes were removed because the codes were a security risk. But Bitcoin Cash developers believe they have found a way to prevent op-codes from being used as an attack vector.
Steve Shadders, a developer at nChain, said in a blog post:
“Essentially out of an abundance of caution and lack of time to fully explore and fix the edge cases that needed to be addressed, the decision was taken to simply disable any opcodes around which there were doubts or even hints of doubts. Seven years have passed and the edge cases around these opcodes are much better understood now. Additionally, the decision to disable them was taken hastily and under duress. The [bitcoin cash] community now has had the luxury of time to address these issues thoroughly.”
How Casino Players Will Benefit from the Fork
Players will enjoy the improved transaction speed and low fees when the fork happens next week. The 32MB block size will drastically lower the chances of players having to pay more than $20 just to fund their casino account—an incident that happened in December last year.
In terms of long-term benefits, Bitcoin Cash players may experience an increase in value of their crypto bankroll not long after the fork. One of the factors for a jump in Bitcoin Cash price will be the mass adoption of the crypto coin which will be facilitated by the improved block size.
The addition of op-codes is also expected to drive the market value of Bitcoin Cash. The ability to create colored coins or tokens and implement smart contract functions will make Bitcoin Cash even more superior to Bitcoin.
With the prospect of having a bankroll value increase in the coming months, now is the good time for players to increase their stock of Bitcoin Cash by winning in slots or table games in online casinos.