Bitcoin Cash (BCH) Makes Donation to Free Ross Ulbricht campaign as First Multisig Transaction on the Network
Bitcoin Cash (BCH) has recorded its first ever Multisig transaction on the network. The transaction was a donation to the Free Ross Ulbricht Campaign. The three signers if the transaction Mark Lundebrug, Chris Pacia, and a Twitter user checksum0 donated a sum of $35.97 to the campaign.
Bitcoin Cash made a huge progress as the first cryptocurrency network to launch the Schnorr multi Signature algorithm. The network upgraded to the algorithm on 15 May with two additions, Schnorr signatures and Segwit recovery exemption. Bitcoin Cash is expected to gain more privacy and scale better with the algorithm.
Speaking on the upgrade, Mark Lunderbug said:
“From a UX point of view, Bitcoin Cash users and merchants accepting Bitcoin Cash via consumer-oriented wallets, such as the Bitcoin.com wallet app, aren’t likely to notice anything different at first glance, But, if you view a new transaction after the May 15th upgrade, you may notice (and appreciate!) that its size is ~4% smaller than it would have been before.”
The free Ross Ulbricht campaign is a more to free Silk Road founder Ross Ulbricht who has been in prison for 2,056. The cryptocurrency community has launched a campaign to free Ulbricht from the 40 year sentence. Well over 165,000 individuals have signed the petition so far and donations are also being made to the cause, one of which is the first multisig on Bitcoin Cash network.
Bitcoin Cash is a hard fork of the Bitcoin network. Since 2017, the CEO of Bitcoin.com and strong proponent of Bitcoin Cash has been criticizing Bitcoin for its inability to scale due to limited block size. Bitcoin Cash has finally achieved this feat of upgrading to the Schnorr algorithm before Bitcoin which will also give it an edge over other networks.
Bitcoin Cash is looking to a lot more privacy on the network which users want as well as ability to scale. This is a great improvement to the cryptocurrency industry and hopefully, other cryptocurrencies will soon upgrade also to give users the kind of services they have always hoped for.