, 3 years ago
Bitcoin Cash is trying to do things differently than Bitcoin. But how? Let’s dive into BCH and its features.
The Bitcoin community had a big discussion that was related to the scalability problem. In fact, the fundamentals of this discussion date back to the year 2015, when it became clear that the block size might need an increase. But it was in the year 2017 when a part of the Bitcoin community felt that it was time to go separate ways.
What happened was a so-called hard fork. Meaning that Bitcoin Cash was built on the exact same protocol as Bitcoin, but with all those changes in mind that this part of the Bitcoin community wanted to see implemented.
The split was not considered to be a friendly act by many, but then again it wasn’t hostile either since every holder of Bitcoin was handed the exact same amount of Bitcoin Cash at the time of the fork. It was basically free money and a new cryptocurrency was born.
Bitcoin Cash increased the block size and took several other changes that were believed to scale the Bitcoin Cash blockchain better than the original Bitcoin blockchain. Many supporters of Bitcoin Cash claimed that their version was closer to the version that the creator of Bitcoin, Satoshi Nakamoto, had in mind.
Since Satoshi simply vanished and never made an ultimate statement about the block size before he left, it remains an individual interpretation of what he meant in those emails and posts publicly available.
Bitcoin Cash is trying to solve the scalability problem with increased block size. It is believed that this will allow more transactions per second and also cheaper transactions fees.
No, it isn’t. While we don’t like to judge people’s ideas it is worth pointing out that the original Bitcoin blockchain stayed intact and was not succeeded by Bitcoin Cash. Both are separate blockchains and therefore are two different cryptos.
In fact, it turned out that Bitcoin is still the number one crypto in the world. Bitcoin Cash on the other hand did very well but is in many terms far away from being a competitor for the top position. Still, Bitcoin Cash is valid crypto, like all other Altcoins and offers interesting opportunities and it remains open if it should ever overtake Bitcoin
May 23, 2023
Bitcoin is the first cryptocurrency ever to be invented and it introduced the blockchain technology. It gave birth to a whole new area and this is the very reason why there are so many events in its past that are considered to be memorable or important.
Apr 27, 2023
Many economists see money as a human invention that followed barter. But according to anthropologist David Graeber, in his book Debt: The First 5,000 Years (2011), it is not the case that we first bartered eight chickens for a goat and then invented money. No, debt existed before it all. What does this tell us our financial system and about Bitcoin as an alternative?
Apr 11, 2023
Shiba Inu (SHIB) is still one of the most important meme coins in the crypto ecosystem. Dogecoin is indeed the mother of all meme coins and tokens. One could argue that SHIB is just another copy, but there is more to it. It is building its own unique DeFi ecosystem that is meant to create more value in terms of Dollars as well as user experience. This puts Shiba Inu in a special place when comparing it to other meme tokens that have no or less ambitious plans.
Sign up to stay informed via our email updates