The Bitcoin Cash (BCH) network officially experienced more than 2.1 million transactions in September – as a result of the recently launched BCH “stress test” which is basically a community-driven test of the BCH mainnet and its services.
According to data from BitInfoCharts, the “millions of minimum fee transactions” were kept with low fees even after 2 million of them went by, proving that the Bitcoin Cash blockchain is capable and scalable in terms of transactions.
With this, the goal of Bitcoin Cash is to attract more people who will transact within the network – as well as attract potential developers and businesses running their services and decentralized applications (dApps) within the network.
Concluded on September 1st, the stress test will “hopefully” take place on an annual basis. As a result of it, the share of BCH transactions made up 63% of all crypto transactions in the past 24 hours alone, according to BitInfoCharts. The second currency in terms of transactions is Ethereum (ETH).
The stress test included more than 14,300 transactions per block, and the number even reached 25,783 per block, up from the average of 90 transactions per block – and compared to the average number of transaction block for bitcoin amounts which ranges from 1,000 to 1,500.
With this, Bitcoin Cash confirmed that its stress test succeeded in breaking various transactions and mempool visualizers.
Dogecoin Surged 40% After Binance Exchange Listing
‘’This one is an exception, as there isn't much new tech development (I guess it was never about the tech for this one). The users/community is large, and a famous "ex-CEO" (cough @elonmusk) helps!’’Right after Musk’s famous comment, Coinbase added Dogecoin and made it accessible for all crypto newbies and experienced traders which further validated the coin’s legitimacy. The price did, however, drop from its high of $0.045 to $0.0035 but the Google searches for the coin spiked and news erupted in almost every crypto media outlet out there. The real question is whether this media attention helped dogecoin or injured the cryptocurrency and the entire economy. The crypto universe is still relatively small so any media attention is deemed useful for gaining traction for new users. This is why Dogecoin’s history behind it should not make a difference in terms of the current value. Cryptokitties for example also showed that the blockchain technology can be used to create games and apps so no matter the reason for its creation, it still has a huge impact on developers and investors and increased the drive towards mass crypto adoption. Despite the current use of Dogecoin in tipping and micropayments, it is still relatively hard for the cryptocurrency to grow out of the name it created for itself. The coin is still perceived as a joke and this doesn’t really help it become the worthy leader for the greater crypto economy. The current listing is still not enough for some investors to be reassured of the fears that burden cryptocurrencies such as volatility, security and headline risks. As noted in the altcoin news previously, some speculated that dogecoin and other projects will help the crypto economy in the long run towards mass adoption.
Tether Keeps On Churning As 50 Million Tokens Enter The Market
“Quick 5% $BTC pump following fake tether news on top of oversold intraday charts. Actual minted tether was $50 million, not $5 billion.”The weekly charts indicate that the things could be turning into a bearish mood for bitcoin. There have already been long wicks through resistance but it was never a closure above it. The horizontal support line stays in the $8,000 region so the larger correction could be heading there as well. Tradingview analysis company issued a report that shows that bitcoin’s 14 percent pullback the market dominance still remains a solid 67.7% at the moment. About $10 billion was lost from the entire market cap over the past 24 hours which is now at $307 billion. The charts are red this morning as most of the crypto assets are continuing the downslide. Bitcoin SV took the biggest dump today losing over 7% and falling below $150. As noted in the latest cryptocurrency news, most of the altcoins are in meltdown apart from the ICON (ICX) token.
Dash Defeated The 51% Attacks, Starts Providing Instant Transactions
‘’One of the problems that any project based on Bitcoin suffers is the potential for 51% attacks. In its latest release, Dash has essentially solved the problem by relying more heavily on its Masternode network in addition to proof-of-working miners. The effect is that the entire network can now instantly confirm transactions.’’The current CEO of Dash Ryan Taylor recently noted that the privacy features of Dash are just a part of the entire experience. He explained that the project provides a ‘’financial user experience.’’ Currently, Dash defeated the 51% attacks in the latest update and the new CEO noted:
“The Dash network today is not one-dimentional. Dash delivers a user experience second to none in the cryptocurrency space today. Transactions are instant, practically costless, and incredibly secure. We have the most effective governance and funding model in the industry, the longest-running in the industry in fact. The cost to attack the Dash network exceeds even that of Bitcoin because of recently introduced security enhancements.Dash has been grinding away developing real-world use cases as well, quietly increasing our transactions and becoming a leader in actual real-world use cases. And our next release is going to blow people away, with a complete focus on user experience and the ability to easily build applications on Dash.” In the coming altcoin news, we can see that Dash has a new solution which are chainlocks. This technology cements a transaction in just a few seconds so all of the dash transactions will be confirmed in the same amount of time.
McAfee Is Sure That The Current BTC And Exile Systems Can’t Survive
"We each have the right to earn a living and to do what we wish with the money that we earn. I mean, if not, then we are still under the control of the financial system we're trying to escape from. That is the purpose of digital currency: to give control of currency back to the people rather than to governments and institutions that can control the currency that we use."McAfee is sure that currency is very important - and if we don't have freedom on it - we won't have freedom of anything. His statements were all over the cryptocurrency news. One of them was centered around the reverse of privacy as a "system where everything that you do is known."
"Please God, we cannot tolerate this. Now, they can produce it, but we do not have to use it."He also talked about his exile in Cuba and praised the country, saying that it is "unique" in many ways. McAfee is sure that he can't go anywhere - he said that he has not paid taxes in eight years and never intends to pay them again.
"Well, it's true. I haven't paid taxes in eight years, and I never intend to pay them again. "As a final note, he talked about his plans to run for US president. As such, his candidature is definitely raising a lot of dust in the latest cryptocurrency news. The full interview can be viewed on this link.
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