For the 15 November this year, as happened in the 2018, there will be a new Bitcoin Cash update. For this occasion the BCH will make it possible development of a Lightning Network which will be released through a new fork.
The new fork this year does not foresee a doubling of the chain, as instead happened in November of the 2018, when two new protocols were proposed which led to split the chain and obtain a new cryptocurrency which took the name of Bitcoin SV . this year's fork does not foresee anything of the kind, as it does not appear the support from someone of the old protocol.
Therefore, this year's 15 November there will be a simple update of the protocol currently in use, which will be brought to the new 0.20.0 version. During the update a fork will be needed, but in this case it will generate neither a split nor the birth of another cryptocurrency.
The new protocol will include enabling Schnorr signatures which will serve to make possible the implementation of Bitcoin Cash in the future. Among these implementations made possible by the fork during the update there will be the development of the Lightning Network. Despite this, the integration of the Lightning Network will not be immediate, but con the fork there is simply the possibility to proceed correctly to its development.
For the final launch of the Lightning Network on Bitcoin Cash in fact, they could probably serve around 18 months after the update.
Will it impact the price? Bitcoin Cash Trading?
Surely an update is always seen as a positive thing for users because it means that the project is followed and not abandoned as happens with many cryptocurrencies. Currently the quotation is high (see Bitcoin Cash listing), if you want to buy Bitcoin Cash you can easily do it on Coinbase , otherwise if you want trading you are advised Binance.
Lightning Network: already available on Bitcoin
On Bitcoin the technology of the Lightning Network has been introduced for some time and up to now it has approximately 36 thousand channels and 10 thousand nodes. Even if you don't know exactly how many transactions go through the network, Lightning Network still has a fairly limited capacity about 8 million dollars.
During the last few periods the use of this technology has been declining, so it is not known over time if the situation will improve or will gradually decrease its use. However, the decline was visualized in August, a month known for generating lower revenues and financial movements, so this it could only be physiological.
In any case, many people wonder what the impact will be Lightning Network will have on Bitcoin Cash, given that at the moment it has a number of transactions that are only one tenth of those of BTC. LN in fact would serve to make transactions cheaper and faster, but since BCH the number of transactions is not that high, you could get the benefit of making transactions not only fast but immediate, although this upgrade is not always enough to decree the growth of a cryptocurrency. So all that remains is to wait for its development to see the real impact that Lightning Network will have on Bitcoin Cash.
