Bitcoin Cash (BCH) - cryptocurrency review
Bitcoin Cash (BCH) - cryptocurrency review

Bitcoin Cash (BCH)

Rank: #34

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Bitcoin Cash Review

Bitcoin cash is a cryptocurrency born in August 2017 as the result of a fork in the Bitcoin blockchain. The primary difference between Bitcoin and…

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Bitcoin Cash (BCH) – cryptocurrency review


Bitcoin cash is a cryptocurrency born in August 2017 as the result of a fork in the Bitcoin blockchain. The primary difference between Bitcoin and Bitcoin (and the main reason for the fork) is block size. With Bitcoin Cash, the size of each block is adjustable with an increased default block size of 8mb (up from just 1mb with Bitcoin).

This block size limitation with Bitcoin is a problem because it severely limits transaction speed, with transactions occuring between 4 to 7 per second. And that’s before ‘confirmation time’ is considered. If you compare this to real-world consumer scenarios like Mastercard & VISA payments in the retail context, then it is clear why scalability issues could impede consumer adoption of Bitcoin as a viable payment method.

On the other side of the Bitcoin / Bitcoin Cash debate was the impact that larger blocksizes would have on the philosophy of the Bitcoin blockchain. “Trustlessness” and “”decentralisation” are key components of this philosophy and architecture, and both are seen as being at risk with the advent of larger block sizes – the fear being that”” larger block sizes will lead to the centralization of mining operations, as larger blocks require professional hardware. This would run counter to the idea of a decentralized network of miners, and limit oversight of the Bitcoin network to a few large miners and nodes.”

Read more – Bitcoin Cash: The New King of Cryptocurrency? | Investopedia

Like most evolution periods, only time will tell whether both will survive, or whether Bitcoin Cash will ultimately become the “preferred incarnation of Bitcoin” amongst merchants and others helping to drive mainstream adoption. Two other factors will likely influence this though: the rise of other blockchains and services like DASH & Litecoin, and future upgrades/forks like SegWit2x.

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