BITCOIN CASH (BCH) NEWS – Bitcoin Cash (BCH) passes the stress test with flying colors

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Bitcoin Cash (BCH) developers decided that September 1 will be the day of the stress test. It was able to handle 2.1 million transactions on that day without any increase in fees. This clearly indicates that the Bitcoin Cash (BCH) is able to handle a large number of transactions without any increase in the fees. This clearly indicates that it is able to provide the scalability which is actually needed. This is also an indication that the network capacity is on the higher side.

Moreover, this is a testament to the fact that on the blockchain of Bitcoin Cash, decentralized applications, as well as various other services, can be run quite easily as well without an intermediate increase in cost or transaction fees. There is hope that the stress test will happen on annual basis. If it happens on annual basis, this will certainly increase the credibility of Bitcoin cash (BCH).

63% of the overall cryptocurrency transactions were conducted in Bitcoin Cash (BCH):

According to some of the estimates, on September 1, 63% of the total cryptocurrency transactions were conducted in Bitcoin Cash (BCH). The 2nd most used to cryptocurrency on that day was Ethereum (ETH). However, the percentage of Ethereum transactions were actually pretty less.

This is a clear indication that Bitcoin Cash can easily handle the transaction load. Moreover, the fees actually declined from $ 0.002 all the way to $ 0.0017. Many of the analysts were actually anticipating an increase or impulse in the fees. That, however, did not happen at all. This is a clear indication that the purpose with which Bitcoin Cash (BCH) was created has been fulfilled as well.

On the price front, Bitcoin Cash (BCH) had moved from $ 550 all the way up to $ 640. The next resistance on the charts is $ 650. If it is able to go past that level, it can easily head up to $ 700 as well. This is one of the main reasons why currently, everything seems to be going for Bitcoin Cash (BCH). If indeed, it gains more traction, it will be able to handle any kind of load as well. In terms of the transaction which it can handle, it has left behind Bitcoin (BTC) as well. This is a clear indication that it is at the forefront when it comes to the scalable blockchains as well as scalable cryptocurrencies. In the coming few days, it remains to be seen whether it is able to gain more traction among the investors as well as traders due to the stress test. One thing which is for sure is that it was able to pass the stress test with flying colors.

About Manish 352 Articles
I am an avid crypto lover and a electronics & telecommunications engineer by qualification. I follow the cryptocurrency & blockchain industry closely to focus on the latest news & developments.

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