As we come to the end of 2019, Bitcoin ecosystem has changed. Bitcoin cash has been upgraded twice in 2019.
They added Schnorr signatures abilities, and many transactions on the network are non-malleable. Furthermore, bitcoin has augmented adoption in 2019. This includes the SLP token explosion and a slew of a handful of third-party applications.
The growth of Bitcoin Cash
As we usher in the New Year, bitcoin proponents are discussing the significance of Bitcoin cash network. Like most coins, bitcoin experienced a slow movement market-wise. However, the coin is above the +30-40% January prices.
As the market has a great year, Bitcoin cash ecosystem experienced vast improvements. From merchant adoption to infrastructure, Bitcoin enjoyed tremendous growth this year.
Furthermore, Bitcoin has undergone two upgrades in 2019 that as enhanced the general functionality and struggles towards the Bitcoin roadmap.
Bitcoin enthusiasts from across the world consider that decentralized digital coins are paving the way to the international P2P electronic cash transfer.
Bitcoin Cash 2019 Upgrades
After six months, Bitcoin chain updates in order to boost the Bitcoin roadmap towards technical improvement and scaling. On 15th May, the Bitcoin blockchain adopted the basics of Schnorr signature capability and Segwit recovery exemption. The Schnorr signature allows enhanced scaling and privacy. The first update created the initial framework that allows developers to leverage its protocol.
On the other hand, the Segwit recovery change allows network participants to get back their cash that has been transferred by mistake.
On 15th November, bitcoin developers adopted the Minimaldata regulation change that eliminates the malleability vector from the bitcoin network. This improvement makes most bitcoin transactions non-malleable.
Also, the 15th November agreement change comprises the Schnorr signature support prolonged to OP_Checkmultisig. That means that all signatures checking processes must support a Schnorr signature.
Simple Ledge Protocol (SLP)
The Bitcoin network has experienced a significant improvement in their simple ledger protocol as the SLP domain has grown strong. The SLP framework has helped in the creation of 6141 tokens, resulting in 312,505 SLP transactions in 2019.
Famous tokens created on the bitcoin network in 2019 comprise Spice, Honk Honk, Official Honk, Flex coin, ACD coin, SAI Drop, Gocrypto, and Honestcoin. Most of these tokens have acquired value, and bitcoin proponents have witnessed the token market capitalizations expand.
Above all, SPL tokens are merchandized on exchanges, and they can be swapped on various trading platforms such as Coinex, Coinsuper, Bitcoin.com Exchange, Altilly, and Cryptophyl.
Bitcoin cash supporters will always get retailers to support P2P electronic cash platforms, and this year has not been different. With the help of individuals spreading awareness about Bitcoin cash, merchant adoption has experienced a tremendous growth since January.
At the start of the year, data collected by Acceptbitcoin.cash indicated that 943 online traders accepted bitcoin cash.
Bitcoin has made tremendous improvements in terms of its BCH privacy. Its privacy was spiked after the introduction of CashShuffle on 27t march. The feature providers more profound anonymity, and it’s being enhanced upon with the idea known as Cashfusion.
Different Bitcoin Cash Milestones and latest applications
Bitcoin fans witnessed the introductions of the BCH marketplace known as local.Bitcoin.com. This allows bitcoin users to sell in noncustodial fashion and P2P.
The committed SLP exchange cryptophyl introduced this marketplace this year, which built an SLP-centric marketplace that utilizes BCH as base pair.
Bitcoin launched a cryptocurrency exchange and a trading system that supports SPL tokens and uses BCH as base pair.
The Sideshift.ai application became a famous crypto swapping system this year, and it introduced a native token known as SAI.
This token utilizes SLP infrastructure and two blockchains. Because BCH supporters were added to things such as CashScript, Nimbus, Spedn improvement, Be.cash, simple escrow contracts, and cash channels.