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Bitcoin Cash [BCH] has potential for innovation, lacks freedom: Bitmain Founder

Priyamvada Singh

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Bitcoin Cash [BCH] has potential for innovation, lacks freedom: Bitmain Founder
Source: Pixabay

On 2nd August, Jihan Wu spoke about Bitcoin Cash and its potential for innovation and how the team is not granted enough freedom to follow their innovative ideas. He is the Co-founder of Bitmain, which is a Bitcoin mining company closely associated with ASIC chip technology. The talk happened at Hotel Grand InterContinental Seoul Parnas during the Huobi Carnival.

Wu said that innovation can only breathe when one does not have to report each activity to a superior. He stated:

“If you have to report everything to an executive… You need to get approval. In this structure, efficiency is low because the entire system has to deal with the risks as a whole.”

Talking about the script operation code of Bitcoin Cash, Wu said that the code can be removed without having an impact on the functioning of the blockchain. This allows functions such as smart contracts to be developed and implemented freely.

Additionally, Wu stated that the script code capacity of Bitcoin Cash was recently increased from 40 bytes to 220 bytes. This can facilitate an easy route to develop new protocols.

When it comes to the issue of increasing the block-size on the blockchain, Wu believes that the Bitcoin community has wasted a lot of time on focusing on the block-size. He further conveyed that innovation requires an environment with good engineers for it to be born.

Jihan Wu was recently ranked in ‘The Ledger 40 Under 40’ list of Fortune that included the names of the most influential people in the business world. According to Fortune, the Bitmain Co-founder is the ‘undisputed king’ of the cryptocurrency mining space.

It has also been seen that Jihan Wu has shown a great inclination towards Bitcoin Cash, which in itself is a controversial hard fork. Fortune had also recorded Wu stating that his interests also lie in ‘stablecoins’.



In the month of July, Bitmain also submitted a proposal regarding the development of a project on the Bitcoin Cash. Bitmain proposed to build a protocol containing smart contracts on the coin’s blockchain.

In the same timeline, Bitmain also brought in four fresh policies for its practices involving shipping and mining. The policies were to counter issues such as secret mining and empty blocks among others.





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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

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2 Comments

2 Comments

  1. Avatar

    MEDIABOLIK

    August 5, 2018 at 8:24 PM

    I agree ,and look where ROGER VER go to promote bcash ,this so ridiculous summit in IBIZA ….. BCASH IS A SCAM

    • Avatar

      Jessica

      August 6, 2018 at 3:54 PM

      Rich guy goes to Spain. Must be a scammer. Logic ain’t your strong suit is it?

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Bitcoin Cash

Bitcoin Cash [BCH] rolls out iOS version of Bitcoin Cash Register

Rishi Raj

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Source: Pixabay

Bitcoin Cash [BCH] recently made headlines when the CEO of Bitcoin.com, Roger Ver got involved in a bet of $10,000 with Tone Vays, a popular Bitcoin maximalist which the former lost. After launching a free point-of-scale solution, Bitcoin Cash Register for Android operating systems, Bitcoin.com and its developers have rolled out an iOS version of the same.

Bitcoin Cash register allows anyone with an Android or iOS device to accept BCH payments. This came as a part of the company’s agenda to promote the adoption of crypto in the mainstream. With the installment Bitcoin Cash Register, it would be easier for retailers to accept BCH as payment from customers.



As reported by Bitcoin.com, Bitcoin Cash Register claims to be easy to use without any prior account registration and the transactions are carried out in a non-custodial manner. This was confirmed by Bitcoin.com via a tweet:

The bet between Roger Ver and Tone Vays regarding the low transaction fee had left the social media divided, with proponents on both sides arguing about the authenticity of the bet and factors taken into consideration while betting.





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