On May 2, a new on-chain social media platform for the Bitcoin Cash network was announced called ‘Blockpress.’ According to the Blockpress development team the platform has been under construction for months, and they are pleased to finally release the initial version to the public.
Another On-Chain Social Media Platform Called Blockpress Launches on the Bitcoin Cash Blockchain
After the past few weeks with everyone talking about the on-chain social media application Memo, another similar platform has been introduced to the bitcoin cash community. On Wednesday, May 2, a developer announced the launch of BCH-powered social media service called Blockpress. The social media application Blockpress, much like Memo, performs every action using a bitcoin cash transaction.
However, Blockpress is far richer, as far as the graphic interface is concerned, as the application resembles the look of a Twitter profile page. Blockpress allows users to add their name, set an avatar, and also set a cover photo for their profile with each action costing a microtransaction of BCH. Moreover, Blockpress says that they plan to integrate the Inter-Planetary File System (IPFS) with the platform in the near future.
Taking the Blockpress Platform for a Test Flight
Just like when we tested Memo, at news.Bitcoin.com we decided to give Blockpress a test flight to get an overall feel for how to use the application. Like last time we deposited $1 USD worth of BCH into our wallet after initial sign up. Always remember these apps are very new and you should only use a small fraction of BCH, and it’s always a good idea to backup your wallet’s key. One confirmation is needed to see the BCH funds appear in your Blockpress account, and from there you can get started utilizing the platform.
After scrolling through the list of people posting 70-character posts on Blockpress, head over to the profile section to update your avatar. Editing the profile right now gives you three options — set name, set photo URL, and set header URL. This means you need to add a direct URL link to these fields from a photo site like Imgur. As stated above, each action, like setting a profile picture, costs a small fraction of BCH and is less than a penny. For a rough estimate, nine actions were less than 3 cents USD following the transactions along with the Bitcoin.com Block Explorer.
‘Bitcoin Cash is the Most Scalable, Fastest and Lowest Cost Network to Build On Top Of’
After uploading a profile, header, and username you can head over to the posting section where users can write 70 characters including emojis. Users can reply to posts, as well as like them and tip the user with bitcoin cash. The platform ran very smoothly, and there seems to be a decent amount of people testing the platform out so far since the team launched Blockpress.
After giving the application a test, news.Bitcoin.com talked with the developer of Blockpress who calls himself ‘Attila,’ in a conversation using Telegram. We asked Attila why he decided to create a social media application using bitcoin cash, and we also asked what he thought about the recently launched Memo platform.
“Simply put, Bitcoin Cash is the most scalable, fastest and lowest cost network to build on top of — I’ve been a huge fan of the original peer-to-peer electronic cash vision and want to see new services be built on BCH,” Attila explains to news.Bitcoin.com. “The Memo team and community are inspiring and we’re absolutely impressed by what they accomplished. We were working on the ‘Blockpress Protocol’ for a couple months and were absolutely impressed and relieved to see that others are building on top of BCH.”
Our source asked Attila how the actions work on Blockpress and he explained everything is done using an OP_Return protocol.
“We will be publishing specs today on the website,” Attila emphasizes.
It is a simple and flexible OP_Return protocol that gives us flexibility for our roadmap. Our plan is to open source the entire code base soon — Our vision is a world where anyone can share, create and connect with each other with no intermediaries.
What do you think about the BCH-based platform Blockpress? Let us know your thoughts about this application in the comments below.
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With BTC transactions taking forever to complete and fees higher than ever, the adoption of bitcoin cash by small businesses and big miners is going strong. The latest examples of this include paying for everything from plastic surgery to music records.
Genesis Mining
Cloud-based cryptocurrency mining company Genesis Mining yesterday announced offering Bitcoin Cash as an automatically traded option. Meanwhile, the fully minable option for all bitcoin mining contracts will be available soon, the company promised.
Founded in 2013, Genesis Mining is one of the largest cloud-based cryptocurrency mining ventures globally. It provides hashing power to many miners from all over the world, focusing on bitcoin, dash, ethereum, litecoin, zcash and monero (which is the only contract in stock at the moment). Now miners can automatically trade their proceeds for bitcoin cash and thus hedge against it taking off without them.
Music Records, Gift Cards and Plastic Surgery
Once miners get their hands on some bitcoin cash they can use it for more than just trading, like paying for music records, gift cards and even plastic surgery.
Music records store Eruce announced a few days ago that it has switched to BCH as its official currency for album order payment. The company used to accept BTC payment but now they explain that: “in the last 2 months, our customers found out it would be very difficult to get their payments confirmed. Usually, our albums cost from $1 to few bucks. With current status of Bitcoin Core, its impossible for us to continue our journey with them.”
And, if you are in need of some breast augmentations, tummy tucks or other forms of cosmetic surgery, just head down to Florida. Dr. Danny Soares, a plastic surgeon and Director of a medical center in the Sunshine State, has recently made public his decision to accept BCH as a method of payment for elective surgical procedures. The good doctor has even called on his fellow nip tuck artists to do the same.
Finally, if you are looking to buy some gift cards for Amazon, Steam, iTunes, Starbucks or many other popular services, someone has launched a new website called Cryptonize.it just for you. It exclusively accepts bitcoin cash, offering merchants a platform to sell their products to the bitcoin cash community while avoiding volatility risks. It has only been up for a few weeks so the site is not very polished yet, has daily spending limits and other growing pains, but will be interesting to see how it develops.
At approximately 4 pm EDT at block height 504031, the Bitcoin Cash (BCH) network successfully hard forked. The fork is a change to the decentralized currency’s consensus rules and aims to upgrade the network’s Difficulty Adjustment Algorithm (DAA).
The Bitcoin Cash Network Has Successfully Hard Forked
November 13 is a memorable day for bitcoin cashsupporters, as the network is forking in order to fix the BCH blockchain’s DAA. The primary development teams who have been working on the bitcoin cash protocol consensus change include Bitcoin ABC, Unlimited, Nchain, and XT developers. The original DAA applied to the BCH network allowed the currency to thrive but also produced wild hashrate fluctuations.
After several DAA proposals were researched and tested by the above-mentioned development teams, the community chose to implement a DAA proposal from Bitcoin ABC’s lead developer Amaury Sechet.
The new BCH consensus change hopes to adjust the difficulty to hashrate to target a mean block interval of 600 seconds. Alongside this, the DAA aims to make sudden difficulty drops and spikes avoidable. For instance, the network will adjust difficulty rapidly when the hashrate changes exponentially, while also avoiding feedback oscillations. Sechet’s DAA is based on a 144-period simple moving average according to the ABC team.
“The difficulty is adjusted each block, based on the amount of work done and the elapsed time of the previous 144 blocks,” explains the Bitcoin ABC development team.
The Bitcoin Cash DAA Should Keep Block Times Consistent and the Mining Ecosystem Honest
Essentially the consensus change means the new DAA should keep block times stable and consistent at roughly 10 minutes per block. So far this goal of 10-minute block intervals has come to fruition. Now that the fork has happened BCH network participants will wait and see what happens with miners who have been hopping back and forth between two chains. Many BCH supporters believe this will level the playing field and from here on out, as the BTC and BCH competition should be fair without any miners gaming the system.
Miners will now have to choose the best solution and be more confident in the chain they are targeting. Both cryptocurrencies market values will be weighed heavily as the price will have more of an impact on the mining profitability for both networks. At the moment, one bitcoin cash is trading at just above $1300 per BCH, and BCH mining profitability has been on parity with BTC for the last hour. Presently it is 2 percent more profitable to mine on the bitcoin cash chain.
Overall bitcoin cash supporters seem very pleased with the successful DAA upgrade, but it will take some time to see its full progression. For now, many BCH supporters continue to believe in the cryptocurrency’s ultimate goal of becoming a peer-to-peer electronic. This week a great number of early BTC adopters vouched for the BCH protocol as a store of value and means of exchange.
Exodus, a multi-asset wallet platform, just integrated Bitcoin Cash functionality. This makes a total of 16 digital assets a user can store on the Exodus wallet. The company press release said Bitcoin Cash along with ethereum classic were added after extensive testing.
The site said, “In our latest update, Exodus welcomes Bitcoin Cash (BCH) and Ethereum Classic (ETC) to our family of assets. Thanks to our extensive testing community, both assets made it through our beta program and are now released for official Exodus support!”
Why Bitcoin Cash now?
News.Bitcoin.com reached out to co-founder of Exodus, JP Richardson, and asked about the implementation of Bitcoin Cash.
Richardson said, “Consistently being in the top-10 for 24-hr volume made it impossible to ignore Bitcoin Cash.”
This implies the move was primarily made as a result of customer demand on the Exodus platform, especially since the trading volume of Bitcoin Cash has exploded. Richardson, however, does not personally believe in the long-term viability of Bitcoin Cash.
Bitcoin Cash Trading and Exodus Assets
Either way, this looks like a solid business move on behalf of Exodus. According to Coinmarketcap.com, at the time of writing, Bitcoin Cash is trading heavily and is up 13.56%. The newly minted cryptocurrency is currently in a bull market after slumping the last few weeks.
Along with Bitcoin Cash, Exodus also added Ethereum Classic to their available assets for safekeeping and storage on their wallet platform. In the prior update, they added the Salt ERC-20 token.
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