Separation of bitcoin between traditional format and faster format is pleasing to virtual currency investors
Bitcoin surpassed the four-thousand-dollar mark for the first time Sunday. The most well-known criptomoeda has added 15% since Friday thanks to the results of the bitcoin separation plan on two different platforms. This Monday, bitcoin is trading at $ 4,125.17.
"So far, a lot of people did not believe that bitcoin could be worth more until the issue of scale is settled," said Arthur Hayes, founder of the BitMex bitcoin trading fund, in a statement to Bloomberg. "By implementing this solution in the protocol, theoretically, the number of transactions that can be processed at a reasonable speed will be significantly higher, so many people are currently confident in bitcoin," adds the expert.
On August 1st, bitcoin trading was separated into two separate platforms: the traditional one, made with one megabyte of trading and a second form with eight megabytes, which is called Bitcoin Cash. This division was known by the term "SegWit2x".
With bitcoin's gain in popularity, it was necessary to create a new way of trading this virtual currency. There has been a decrease in the speed of the transactions to have because of the limit on the amount of data that can be processed. With the separation on two different platforms, we try to respond to this constraint.
The next step in bitcoin may be doubling the bargaining speed to two megabytes, which may occur as early as November. The process, however, may have little support because some experts, such as Arthur Hayes, argue that Bitcoin Cash solved the need for a new separation and update of bitcoin.
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