- The bitcoin offshoot, bitcoin cash, soared Friday after indications the alternative digital currency could achieve its goal of speeding up transactions.
- Bitcoin cash rose 40 percent from Thursday’s close of $460.53 to briefly hit $655 Friday afternoon, according to CoinMarketCap.
- On Wednesday morning, bitcoin cash “miners” successfully demonstrated that the digital currency could support an eight megabyte block, versus the original bitcoin’s one megabyte.
- The eight megabyte block “has proven that bitcoin cash is working,” said Charlie Hayter, CEO of digital currency information website CryptoCompare.
- With Friday’s gains, bitcoin cash ranked third by market value at around $10 billion, according to CoinMarketCap.
The bitcoin offshoot, bitcoin cash, soared Friday after indications it could achieve its goal of speeding up transactions.
Continue reading “‘Bitcoin cash’ surges 40% in single day as investors bet on its faster processing speeds”