Upgrade Time - Bitcoin cash activates the bifurcation on Tuesday at 32MB

in #bitcoin6 years ago

In less than a week, on May 15, the bitcoin cash network will upgrade to the core block size, from 8MB to 32MB. In addition, it will reactivate and add some OP_Codes to the code base. There are only a few days left, and there are a few things that BCH owners and full knot operators should know before the upgrades take place next Tuesday.
The bitcoin cash network is about to have the largest increase in block size ever made. The upgrade will increase the block size four times on May 15, 2018. The developer team has also added some SatOShi OP_Codes and the fork will also increase the default data-carrier size to 220 bytes. If you do not run a BCH full of BCH, you do not have much to do, aside from the fact that you should not trade in the upgrading period.

Bifurcation activation will use the Median Time Past method
The May 15th BCH bifurcation will be similar to those activated on August 1 and the DAA bifurcation that took place in November last year. This means that activation will take place on May 15th, but there will be no clear size of the block, because the upgrade will be activated in the Median Time Past - MTP. The beginning of the firm bifurcation will start on Tuesday, May 15 at 14:00, Romania time. The upgrade will not be implemented until the MTP time stamp and processing of the 11 blocks equal to or more than 1 526 400 000 takes place. After this time, after the next block, the upgrade to 32MB will enter the bitcoin cash network.

Clients with full knots and miners need to update to the program
Node operators need to upgrade as soon as possible before the bifurcation starts. ABC users can download the latest version of Bitcoin ABC 0.17.1, and those who run other nodes full of bitcoin unlimited or XT should upgrade to a client that supports the 32MB increase. At this point, if we look at the major BCH client, Bitcoin ABC shows that most nodes have already upgraded to the newest version 0.17.1 ABC. Full node operators and miners need to upgrade to software to participate during and after network change.

You'd better not make BCH transactions on May 15th
Everyday users do not have to do what they know, apart from the fact that current bifurcation events must remain. It is important to say that it would be best not to trade during activation. That means you do not have to send money on May 15, and you have to wait for the bifurcation to end.

It is a more valuable measure to keep an eye on any exchange update or wallet provider to make sure that the platform you are using supports network changes.

So, on May 15th, if you have the money in exchange or in a non-custodian wallet, you just have to be patient until the bifurcation ends.

The bifurcation of November last year shows that complications should not occur
The last bifurcation of this type took place in November and was successful. Since then, the Algorithm of Difficulty Adjustment has gone flawlessly. The increase to 32MB will be much higher than the current size, and this upgrade will most likely be a historic moment for upgrades to the public blockbill consensus

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