August 1 Bitcoin (BTC) The eighth anniversary of a major mother in history – the initial activity of separate witnesses (segwit) in 2017, a major software that is upgrading, which re -shaped the future network and more and more triggers a hard fork.
Known as a “bitcoin Independence Day”, Mot reduced the main flow on the protocol and led the creation of bitcoin cash (BCH), highlighting the community’s divisions that Bitcoin should support global use.
“Block Size Wars” were fitness among those who wanted to smaller bitcoin block sizes and keep “large blockackers”, a alliance of miners and businesses that to block BTCs wanned for more transactions in each block to block everything and suitable for commercial transactions.
“Bitcoin Jesus,” Big blockers led by Roger Ver argued that Bitcoin decreased from the point of view of Satoshi Nakamoto’s Peer-to-Pier Electronic Cash System, as there was never enough measure to adjust the world’s transpocation.
Node operators, developers and BTC users protested for large block proposals, arguing that block size wold also increases storage requirements for node operators.
Possible growth in storage requirements would be a node prohibitory running for final use, running bitcoin network hardware in bitcoin networks in the hands of some big players.
Bitcoin Improvement Proposal (BIP) 91 was activated in August 2017, paving the way for scaling through BTC Lightning Network, with a final disposal on the bitcoin laser, a method of convenience of offchain payment channels between two or more users.
On August. 1, 2017, Big blockers separated from the bitcoin network, resulting in the history of Bakh construction and bitcoin forever.
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Bitcoin and BCH, where are they now?
Since Bitcoin Cash Hard Hard in August 2017, the price has an Osciller, which kills a high time of about $ 1,600 in May 2021 during the previous bull market bicycle.
However, the price collapsed soon, the 2022 bear decreased all the time of about $ 90 during the market. Currently, Bch is trading at around $ 552 – the same price level it was trading eight years ago, soon after.
Meanwhile, the price of bitcoin has become clear up to about 4,200% during the same eight-arod. On August. 1, 2017, BTC was trading at $ 2,718 and is currently trading about $ 122,000 recorded in July at around $ 115,000 from all its time highouts.
Today, Bitcoin has a market cap of over 2.2 trillion dollars, while the total market cap in bitcoin cash is around $ 10.9 billion.
The scholarship between the two networks highlights the debate between those who want to use a decentralized store of value – a conflict that still rages.
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