Bitcoin Cash May Upgrade to 32MB Block Size This Spring

The initial upgrade to 32MB should kick in on May 15, 2018 followed by a subsequent upgrade deployment in November
21 March 2018   5042

Bitcoin ABC, Bitcoin Cash Development team, which is also collaborating with many other cryptocurrency-related projects, has issued a report in 2017 enlisting its major goals for next 6 - 12 months, and stating that the top priority for Bitcoin Cash is to keep improving it as a great form of money. 

Developers of Bitcoin Cash claimed that they will do their best to enable enhanced features facilitating use-cases such as timestamping, representative tokens, and more complex transaction scripting.

One of the most important features that are to be implemented is the protocol upgrade when Median Time Past reaches timestamp 1526400000, which is May 15, 2018, and a subsequent upgrade for 6-months later when Median Time Past reaches 1542300000, which is November 15, 2018. Basically, that means that the initial upgrade to 32MB should kick in on May 15, 2018 followed by a subsequent upgrade deployment in November. 

Those are incredible news for the community of Bitcoin Cash, as larger block size could make it a faster and lower-fee peer-to-peer system. For sure the protocol upgrades will need solid implementation with lots of time for review and testing, and we will report about the details of the upgrades as more information comes.

Coinbase to Appear in San Francisco District Court

Exchange representatives must appear in court due to issues related to BCH trading launch in 2017
07 August 2019   134

San Francisco District Court judge Vince Chhabria ruled that the latter showed negligence and “clear incompetence generated by haste” when it started trading in Bitcoin Cash (BCH) on Coinbase. Now Coinbase, apparently, will be forced to stand trial, Bloomberg reports.

So, at the end of 2017, the exchange opened BCH trading, but was forced to suspend operations after 2 minutes due to high volatility and suspicious price increases - the coin began to grow rapidly several hours before the announcement of Coinbase.

Then the company was accused of insider trading, later crypto enthusiasts even began to find confirmation of this.

According to the judge, the users who bought VSN at inflated prices were primarily affected. He noted that the suspension of trading was too hasty and disrupted the normal functioning of the market.

BCH buyers claim that Coinbase could have announced a bid in advance to prevent a price spike, but it did not. The judge agreed with this opinion and noted that shortly before the launch of BCH trading on Coinbase, the Chicago Mercantile Exchange opened trading in bitcoin futures, which could become a factor of too much market participants' recovery.

According to the publication, Coinbase has not yet commented on the court decision.

Recall that in March 2018, a class action lawsuit was filed against the company, in which Coinbase was accused of “artificially overpricing” Bitcoin Cash through trading based on insider data.