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Bitcoin vs. Bitcoin Cash: Everything You Need To Know

Bitcoin cash is just a new cryptocurrency that came into existence after bitcoins has already existed. It is not one of my favourite cryptocurrency for investment. I don't know why .
The Bitcoin cash has been in existence for quite long now and it is one of the payment system that I receive online most especially on one of my test page to post forum. I love to use the Bitcoin cash because of its past transaction speed.
 
Bitcoin cash is just a new cryptocurrency that came into existence after bitcoins has already existed. It is not one of my favourite cryptocurrency for investment. I don't know why .
The Bitcoin has been in existence long before the Bitcoin cash came into existence and as a result it is gradually gaining popularity in the cryptocurrency space but will not be popular as Bitcoin.
 
The Bitcoin has been in existence long before the Bitcoin cash came into existence and as a result it is gradually gaining popularity in the cryptocurrency space but will not be popular as Bitcoin.
I don't really know much it has to offer in the crypto space . But I believe the popularity of Bitcoin cash may be declining because there are more potential cryptocurrency for investors to invest.
 
I don't really know much it has to offer in the crypto space . But I believe the popularity of Bitcoin cash may be declining because there are more potential cryptocurrency for investors to invest.
You are getting it twisted because bitcoin cash is a very wonderful cryptocurrency and a very good project to invest on. I've got a couple of people that are using the Bitcoin cash and they are really happy with it.
 
You are getting it twisted because bitcoin cash is a very wonderful cryptocurrency and a very good project to invest on. I've got a couple of people that are using the Bitcoin cash and they are really happy with it.
Mostly it depends on the research you have done about the Bitcoin cash. I haven't carried out any serious research about the coin , that is why I may not really know much about it as other cryptocurrency I have come across.
 
Mostly it depends on the research you have done about the Bitcoin cash. I haven't carried out any serious research about the coin , that is why I may not really know much about it as other cryptocurrency I have come across.
That is quite impressive, because you mentioned this, I would definitely go to my crypto chart and d some technical analysis on BCHUSD right now . I will give the outcome later.
 
That is quite impressive, because you mentioned this, I would definitely go to my crypto chart and d some technical analysis on BCHUSD right now . I will give the outcome later.
Ok, that's nice. Please I would like you to check it out. What is the purpose of the technical analysis you are interested to carried out ? To predict it's market movement ?
 
That is quite impressive, because you mentioned this, I would definitely go to my crypto chart and d some technical analysis on BCHUSD right now . I will give the outcome later.
Ok you can check out. If the coin is potential enough then I may consider investing in it especially now that all cryptocurrency has dropped.. Thanks
 
Ok you can check out. If the coin is potential enough then I may consider investing in it especially now that all cryptocurrency has dropped.. Thanks
I was just came back online because I had a tight schedule. Later in the day I will definitely fulfill my promise and I will do a little market analysis on BCHUSD
 
I was just came back online because I had a tight schedule. Later in the day I will definitely fulfill my promise and I will do a little market analysis on BCHUSD
Then you should be creating a post and analyse the market for people that may be interested to also trade , probably
for short-term traders. This will really be a nice idea.
 
Then you should be creating a post and analyse the market for people that may be interested to also trade , probably
for short-term traders. This will really be a nice idea.
That's true I'm not thinking in that direction but I will definitely give it a try, but if you're looking for my analysis , I will give you a website that you can get incisive analysis have my prediction.
 
That's true I'm not thinking in that direction but I will definitely give it a try, but if you're looking for my analysis , I will give you a website that you can get incisive analysis have my prediction.
Are you talking about your personal blogging site ? Because that is just the most important thing as I do not want to entangle with unknown people. Yea you can drop the Link here of your platforms
 
Are you talking about your personal blogging site ? Because that is just the most important thing as I do not want to entangle with unknown people. Yea you can drop the Link here of your platforms
It is my website but I've been so busy lately to publish some analysis. It's very important to have good knowledge around cryptocurrency analysis so that you will get equipped very quickly.
 
Bitcoin Cash was forked out of Bitcoin by some stakeholders who could not reach a consensus with other stakeholders.

Bitcoin (BTC) and Bitcoin Cash (BCH) have the same initials and similarities, including code base and transaction history.

The need to improve the block size, scalability features and increased transaction speed in Bitcoin became imminent after a while.

These improvements led to disagreement between stakeholders and miners who had the voting power.

Some groups wanted a larger block size, while others wanted a faster and cheaper transaction on the Bitcoin blockchain.

It was difficult to reach an agreement from both ends; however, SegwitX2 was launched, but it still had weaknesses.

The disagreement led to a Hard Fork split, giving way to Bitcoin Cash.

Bitcoin cash considered all improvements and scalability features.

Bitcoin deployed 1Mb per block size, Bitcoin Cash increased it to 32 MB, BCH uses smart contract protocol, and BTC does not use smart contract protocol.

Even though BCH is a direct split from BTC, they now have distinct operation mechanisms and features.

The blockchain network is decentralized and open-source, giving room for developers to create their platforms and leverage blockchain technology.

The similarities between Bitcoin and Bitcoin Cash go beyond having the same initials.

They share the same code base, whitepaper, and transaction history.

However, they have distinct differences in operation.

The case of Bitcoin and Bitcoin cash is somewhat similar to a “father and son” relationship. However, the son was born to correct the father's wrongdoings.

This article will identify the reasons for the Hard Fork and how both tokens have been faring since the split.

How Bitcoin Necessitated The Need For Bitcoin Cash​

1652456429BTC%20VS%20BCH%201.jpeg





Bitcoin is the first blockchain platform and cryptocurrency launched into the crypto market. It was launched as a store of value and inflation hedge.

Like every other technology space, blockchain technology began to witness other innovations and advancements. Blockchain developers' launch of other crypto assets increased over time with exceptional features.

During the early days of Bitcoin, miners, holders, and investors had little or no issues with its scalability. As time goes on, scalability becomes a significant source of concern.

The volume of transactions that the Bitcoin blockchain can process at a time is low compared to other financial gateways.

For instance, as of January 2022, Bitcoin could only process about 4.43 transactions per second compared to Visa, which could process about 6,527 transactions per second.

Similarly, the data stored on the blockchain that enables the creation of new blocks and verification of transactions was limited. In Bitcoin, each block can only contain 1MB of data.

As more people tend to make transactions from across several terminals, the backlog of unconfirmed transactions increases. The waiting time to get your transaction verified increased exponentially.

The blockchain network began to verify the validity of transactions based on the fee attached to each transaction. The higher the transaction fee, the faster your transaction gets processed.

These reasons and more necessitated improving the blockchain network and improving its scalability feature.

To effect any change in the network, all stakeholders need to reach a consensus. The consensus will achieve two significant solutions;

Firstly, to increase the block size to enable more transactions and data processing. Secondly, make the data to be verified smaller in each block, thus creating faster and cheaper transactions.

The stakeholders failed to reach a consensus on the two major scalability improvements. The failure led to a split, causing a hard fork. It was the hard fork that gave birth to the Bitcoin CASH.


Bitcoin Cash; The Result Of Hard Fork​


1652456905BTC%20VS%20BCH%202.jpeg




The split between the stakeholders who had voting power in Bitcoin did not initially birth Bitcoin Cash. Instead, it paved the way for SegWit2X.

The SegWit2X upgrade was proposed in May 2017 when 85% of stakeholders who had computing power in Bitcoin met to decide the future of BTC.

The Segregated Witness (Segwit) was proposed to improve the scalability feature of Bitcoin, among which the block size will be increased to 2MB. However, the proposal was opposed by some set of stakeholders.

The disagreement led to two opposing sides; some stakeholders opposed the increase in block size and made a case for small blocks, while others supported bigger blocks for faster transactions. The disagreement led to a hard fork.

Those stakeholders in support of increased blocks forked the Bitcoin blockchain and created Bitcoin Cash (BCH) on August 1, 2017.

Since the launch of Bitcoin Cash, the token has continued to add adjustments and improvements that were felt to be lacking in Bitcoin. The differences that exist between them include;


Differences Between Bitcoin (BTC) And Bitcoin Cash (BCH)​


1652456976BTC%20VS%20BCH%203.jpeg



The following are the differences between Bitcoin and Bitcoin Cash:

Block Size

Bitcoin still maintains its block size of 1MB, while Bitcoin Cash has grown its block size to 32MB.

Having a block size of 32MB shows that Bitcoin Cash can process up to 200 transactions per second, and those transactions will cost less than a penny compared to BTC, which can charge as high as 50 dollars per transaction.

Token Issuance

Bitcoin Cash (BCH) uses the Simple Ledger Protocol to issue tokens. However, Bitcoin (BTC) uses the Omni layer to issue tokens.

The Omni Layer is a platform for creating and trading custom digital currencies. Some digital assets combine both Simple Ledger Protocol and Omni Layer.

The Use Of Smart Contracts And Decentralized Finance

Bitcoin Cash (BCH) uses smart contract languages like Cash_script_ to solve more complex functions. Cash_script_ is expected to bring DeFi to Bitcoin Cash.

Bitcoin does not support smart contracts. However, the developers of Bitcoin are building Decentralized Finance (DeFi) Services on it.

Market Capitalization

The market cap of Bitcoin continues to outgrow that of Bitcoin Cash since the split. As of (Mid) March 2022, the market cap of Bitcoin remains $808.37 billion, while that of Bitcoin Cash was about $4.48 billion.

The former stood at Number 1 in terms of the Market cap while the latter stood at number 24.


Conclusion​



Bitcoin continues to be the largest digital asset even though other tokens enable faster transactions and attract lower gas fees.

The reason for the launch of Bitcoin Cash became necessary to help solve the scalability issues, reduce waiting time and network congestion, and compete favorably with the new generation of blockchain assets.

However, since the launch of Bitcoin Cash (BCH) and the introduction of all the improvements, it has been far behind in milestones and achievements that Bitcoin has surpassed.

The difference between Bitcoin and Bitcoin Cash is now very distinct that they are now seen as two different assets in the crypto space. What started as a subsidiary of the other now has distinctive features and mechanisms.



Author: Valentine. A, Gate.io Primexb
In my opinion, bitcoin cash is a currency of the future but it will nonetheless lag behind bitcoin
even though it is now garnering praise from traders due to its low transaction fees. All in all, the detailed nature of the article helped me learn information I didn't know.
 
But I used to think bitcoin has been in existence for a long period of time compare to when bitcoin cash come into existence. You don't expect it will cash up with bitcoin easily like that
Bitcoin cash was, I can say, derived from bitcoin. Its gaining ground these, but it'll always been a son to bitcoin. Recently, I received a payment in form bitcoin cash and it was fast. The faster transaction is why some people like it.
 
I'm able to get the real information about Bitcoin cash and Bitcoin. However I love to use Bitcoin cash as a means of receiving payment on sites and this is because many sites use it mostly as a payment options
 
The article's details helped me learn information I didn't know. In my opinion, bitcoin cash is a currency of the future. It will nonetheless lag behind bitcoin even though it is now gaining ground thanks to its low transaction fees.
 
The Bitcoin is a good cryptocurrency while the Bitcoin cash is the hard fork of the Bitcoin and it has been in existence for a long time. Which is probably one of the best digital currency that we have.
Though bitcoin cash was actually brought in to serve as an alternative to bicoin,so that those that cannot make use of bitcoin due to reason of gas fees can actually have an alternative in bitcoin cash.
 

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