It has been announced on ViaBTC that Bitcoin Cash, the contentious result of a fork of Bitcoin that didn’t go through properly, is getting its own fork. The fork will be called Bitcoin Candy. It will up the block size limit to 8mb and will only have a block interval limit of 2 minutes. Both of these measures are designed to lower the transaction fees, the transaction time, and the overall load on the Bitcoin Cash network. Bitcoin Candy will also introduce GPU hashing to Bitcoin Cash.
As soon as the block height reaches 512666 the fork will be triggered. At this time ViaBTC will look at everyone’s Bitcoin Cash holdings. They will note how many BCH people have. This will be used to give Bitcoin Candy (CDY) to people. One BCH will be equal to 1000 CDY – meaning you will get a thousand Bitcoin Candy coins per Bitcoin Cash coin that you have. Make sure you check your account if you have Bitcoin Cash and see how many Bitcoin Candy coins you will end up with.
Bitcoin Cash has long been a controversial fork. Most people did not go through with the fork, while those that did claimed they did the right thing. Instead of being a fork of Bitcoin it ended up becoming sort of a competitor to Bitcoin. This happened before the incredible boom in the price of Bitcoin, which may have led to more drama than would have otherwise occurred. The mere mention of Bitcoin Cash in a Bitcoin community online will result in arguments and debates.
Then there’s the fact that some people seem to think that Bitcoin Cash is a scam, and the announcement of Bitcoin Candy has only made them more suspicious. Note that there is no evidence that Bitcoin Cash is a scam. There are just conspiracy theories that Bitcoin Cash was specifically designed to destroy the value of Bitcoin, and that Bitcoin’s naysayers are using Bitcoin Cash to damage Bitcoin. Again, there is absolutely no evidence of this, and nothing like this has been done so far through Bitcoin Cash.
People are just waiting to see how things go from now. This move will definitely make it much easier to trade Bitcoin Cash in the future. It alleviates most of the problems that plague other cryptocurrencies. It is always great when the possible number of transactions happening is increased. Bitcoin did not fork and its users are definitely paying the price for that move. They are paying unbelievably high transaction fees and have to wait hours before a payment goes though. If Bitcoin Candy legitimately ends up fixing these issues then who knows – it may finally get back its place as the second most popular cryptocurrency around. We’ll be watching closely on January 13th to see how people react.