Blockpress and Memo.cash developers have also tested the platform and increased their character limit from 79 to 217 after the BCH network upgrade that was discussed on May 18th at the Coingeek Conference in Hong Kong.
Bitcoin cash [BCH] is currently ranked at the 4th position in the global market trading at $1,274.92 with a market cap value of $21.8 billion, at the time of writing. The recent hard-fork on May 15th has increased its block size from 8 MB to 32 MB with the adoption of smart contracts.
BCH was supposed to make a comeback with its popularity with the hard-fork; however, most of the Bitcoin Cash nodes are not upgraded. However, the new features that were upgraded on the on-chain, like the block-size increase, have boosted the word limit on Memo.cash.
Memo.cash is a decentralized on-chain social network that was built on Bitcoin Cash. This means users do not have to stick to a specified word limit and can write longer messages.
More than 16% of the nodes are running on old software and without the upgrades, half of the users are left behind. The very purpose of Bitcoin Cash was to solve Bitcoin scalability issues. Chris Pacia, lead developer at ‘OpenBazaar’ opposed saying:
“Likely the reason those nodes haven’t upgraded aren’t in use and the owners haven’t bothered yet.” He further explained that “For addresses with a large number of keys a tree signature can use less data. And unlike normal OP_CHECKMULTISIG, it doesn’t require you to expose the keys that were not used in the signing.”
Roger Ver’s Twitter handle reads:
It is very true that most users are not bothered as much they are with Bitcoin implications on the market history and popularity. It is also important to mention that the Bitcoin Cash’s hard-fork was controversial as the two groups hold different marketing strategies as per arguments from the Bitcoin community. In January, Charlie Lee, the creator of Litecoin had tweeted saying:
“If anything, Bitcoin Cash is copying Litecoin. Litecoin has been around since 2011. Bitcoin Cash is just trying to do the same thing but stealing the Bitcoin name. Disappointed, that you don’t see that. Oh well,” leading to controversies regarding the hard-fork.
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