Features of Bitcoin Cash (BCH)
Bitcoin Cash’s larger block size did accomplish its task. Keenly, Bitcoin Cash is much faster than traditional Bitcoin. Interestingly, during a stress test conducted in Sep 2018 the platform registered 25,000 transactions per block. Comparingly, the average number of transactions per block for Bitcoin is between 1,000 and 1,500.
Also, it’s way cheaper to use Bitcoin Cash. BCH users only pay around $0.20 per transaction using the network. These fees are much higher using Bitcoin’s blockchain. Additionally, Bitcoin Cash is easier to mine than its predecessor thanks to the integration of some new protocols.
Bitcoin Cash has a healthy community following that is among the most vocal in the market. Although, as of recently, the coin has had some divisions regarding updates.
There are two types of blockchain updates, hard and soft forks. The difference between the two is that hard forks require miners to update their nodes to communicate with the network. Sometimes, not all of the miners want to switch over to the new coin’s protocol. When this situation arises, a hard fork occurs and a new coin is born.
In Nov 2018, Bitcoin Cash experienced a hard fork inside a hard fork. The community divisions originated over a plan to integrate smart contracts onto the blockchain and increased the average block size again. The resulting hard fork created Bitcoin Cash ABC (BCH) and Bitcoin Cash SV (Satoshi Vision). The later of the two, Bitcoin Cash SV is led by the long-time cryptocurrency programmer and claimed Satoshi Nakamoto, Craig Wright.
For Bitcoinist in the market, it’s easy to dismiss Bitcoin Cash as just a rip-off of Bitcoin. However, this argument falls apart as you start to evaluate the changes, updates, and community growth the coin underwent since its creation. Today, Bitcoin Cash stands by itself as a staple in the crypto community.
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