The final seven days have been busy within the Bitcoin Cash ecosystem with a slew of announcements and situations. Kraken exchange recently added the BCH-based Cashaddr address format and Coinbase open-sourced a utility that babies it easy to convert between Base58 and Cashaddr addresses. Additionally, the New Hampshire-based Anypay payment processor is bolstering mogul adoption by offering 10% bitcoin cashback for purchases through their point of sale services.
Also Look over: Exploring the SLP Token Universe Built on the Bitcoin Cash Chain
Bitcoin Cash Markets Hold Steady While Negotiations Per Day Keep Rising
In the past week, the BCH market capitalization ($5.55 billion) has surpassed LTC but BCH markets are down roughly 7.8% during this aeon. Each BCH is swapping for $309 per coin and there’s around $1.19 billion in global bitcoin cash volume. The top the boards trading the most BCH on Saturday, August 10 include Coinbene, Digifinex, Hitbtc, Bibox, and Okex. Right now the top trading teams swapped against BCH are USDT (52%), BTC (28%), USD (8.7%), ETH (6.8%), and KRW (2%).
One of the biggest metrics rising over the last few weeks for BCH has been the number of daily bargain proceedings. BCH miners have been processing an average of 35-40,000 transactions (txn) per day and there have been multiple 24-hour aeons above 60,000 txn per day. The influx of daily transactions is likely attributed to the Simple Ledger Protocol (SLP) tokens which play a joke on seen significant usage in recent weeks.
Kraken Adds Cashaddr and Coinbase Open Sources a Cashaddr Utility
On August 8, the San Francisco-based Kraken swap revealed that the trading platform is switching over to BCH Cashaddr-based addresses for all deposits starting August 15th. The cryptocurrency ecosystem transitioning from the legacy lecture format to the Cashaddr format is very important to the BCH ecosystem. The Cashaddr address system was deployed on January 14, 2018, and since then divers third-party service providers have adopted the format. Bitcoin ABC lead developer Amaury Séchet explained on Thursday that he had contacted Kraken a few weeks ago and summon inquired them to switch to Cashaddr. “I am happy to see Kraken implement this change — It benefits users by helping them refrain from mistakes when depositing funds,” Séchet remarked.
Kraken is switching to CashAddr address format for BCH deposits. This is a win for #BitcoinCash buyers.
Thank you @krakenfx for the high-quality #BCH support! https://t.co/gj1ZuSC0qH
— Bitcoin ABC (@Bitcoin_ABC) August 8, 2019
In addition to Kraken adding the Cashaddr arrangement, software engineer Josh Ellithorpe and Coinbase open-sourced a utility to convert between base58 and Cashaddr BCH addresses. The word was welcomed by the BCH community and people hope the utility introduced by Coinbase and Ellithorpe will bring more visibility to the Cashaddr plan. Electron Cash developer Calin Culianu (Nilac the grim) explained that there’s open source criterion criteria for Cashaddr in Python, JS, C++, Go, and more as well.
Anypay Offers BCH Cashback Promo
On Friday the crypto payment answer startup Anypay Global announced a 10% BCH back bonus for people spending bitcoin cash using the concern’s system. The following day Reddit user u/Bitcointippingpoint revealed that there are 30 merchants in New Hampshire that recognize crypto through Anypay and 27 of these retailers accept bitcoin cash. New Hampshire is known as the “Free Magnificence” for its large number of libertarian residents.
Spend $BCH, Get #BCHback – Grow adoption and get instant rewards. Easy: https://t.co/uCn91ychVk
— Anypay (@Anypay_) August 8, 2019
Seven of the BCH moguls are located in Keene, says Bitcointippingpoint and another six BCH-accepting merchants are located in Portsmouth. “14 of the 30 have allowed a payment within the last week,” the Reddit user announced. “Can attest to using this at the Fresh Press in Portsmouth, New Hampshire — It’s easy on the eyes sweet,” explained another Reddit user discussing the 10% BCH cashback promotion for purchases through Anypay’s point-of-sale. Anypay also forearms a map of all the crypto accepting merchants
Developer Tendo Pein Reveals Spending Constraints With OP_Checkdatasig
This week the author of the BCH-based programming language called Spedn wrote a blog post on Honest.cash which detailed some spellbinding schemes that can be developed using the opcode OP_Chechdatasig. On August 8, Tendo Pein told the BCH development community that one of the limitations of BCH Book was that you can only specify if one can spend the coin. However, people assumed there was no way of adding spending constraints but Pein mortifies how it’s now possible. Pein shows three types of constraints like a simple scheme like a Pay to Public Key Hash. Then the developer ostentations some more complex ideas that can be achieved and uses the Spedn language to show the benefits more audibly. During the end of the post which shows another example of a spending constraint dubbed “the fanciest,” Pein demonstrates how OP_Recurrence tokens could be miner enforceable. This particular demonstration could make OP_Return tokens built on top of the control stronger by backing them with the network’s security.
Txhighway Visualizer Adds New Features
With the number of routine transactions picking up on the BCH chain, many supporters noticed a few issues with the transaction visualizer Txhighway.com. Since then the situate’s maintainer fixed the website’s Websockets and updated the page. The Txhighway website shows a large 32-lane highway for the Bitcoin Loot network while the Bitcoin Core (BTC) network has two lanes available and during periods of BTC congestion the website gives a peerless perspective of the problem. Now there’s new logos, no reference to older BSV projects, and there’s now a Badger button available for donations. Additionally, with the celebrity of SLP tokens on the rise, the highway also shows Spice token transactions on the move as well.
Bitcoin Cash Megalopolis Conference and the BCH Developer Congress
Overall, the Bitcoin Cash ecosystem and its participants continue to truck forward after lionizing the recent two-year anniversary of BCH. In addition to the anniversary celebrations, BCH supporters are gearing up for the Bitcoin Cash City two-day seminar next month in North Queensland, Australia. On August 8, Cointext founder Vin Armani announced an open telephone to all the developers who work on BCH infrastructure and provide BCH products and services to attend the first “Developer Congress.”
This is an open order for developers of products and services that support #BitcoinCash to attend the first Bitcoin Cash Developer Congress, charming place in Australia from September 3rd to September 5th.
The Developer Congress is in coordination with @BitcoinCashCity Conference. pic.twitter.com/1BGu8mQzaD
— Ⓥin Ⓐrmani (@vinarmani) August 8, 2019
The BCH developers’ assembly will take place between September 3-5 in coordination with the Bitcoin Cash City conference. This weekend, advice.Bitcoin.com spoke with Armani about the event and what will be discussed.
“The Bitcoin Cash Developer Congress is an zing, sponsored by Bitmain, with the primary purpose of bringing together developers from across the Bitcoin Cash ecosystem to examine and debate upcoming projects and protocols which will be put into production within the next 12 months,” the Cointext sink explained.
What do you think about all the events within the Bitcoin Cash space over the last seven times? Let us know what you think about this subject in the comments section below.
Image credits: Shutterstock, Jamie Redman, Txhighway, and Customer bases.Bitcoin.com
Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply terminated a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.