Overview

07/09/18 04:23 UTC-4

Bitcoin Cash, as the currency Bitcoin

Bitcoin Cash, as the currency Bitcoin
Bitcoin Cash, as the currency Bitcoin

It is easy to guess what this cryptocurrency was thinking as virtual money for the convenience of making safe payments. Created not so long ago, Bitcoin Cash uses Blockchain technology. But, unlike the well-known Bitcoin, which is limited in block scaling, Bitcoin Cash initially received 8 MB, thereby allowing it to handle more transactions.

Interesting in the section: Bitfinex: description of the exchange site

Work principles

In the distant 2010 the block size in Bitcoin's code was only 1 MB, which significantly limited the potential of this currency. This restriction was primarily due to the need to prevent spam attacks on the network. Over time, the average block size increased, and it took much longer to complete the transactions than before. As a result, the developers decided to clone Bitcoin and obtain a more perfect currency under the name Bitcoin Cash.

 

Capitalization

The investors perceived the appearance of the "Bitcoin Cash" on the market very positively, because of the amount of capital raising Bitcoin Cash retains the 4th place after Bitcoin, Ethereum and Ripple.

The interest of depositors in Bitcoin Cash is due to its wide financial opportunities, which will in the future circumvent such large players in the sphere of electronic payments, like PayPal and Visa. At the start of 2018, Bitcoin Cash's production is mainly handled by large companies, since huge computer power is needed to handle large blocks. In the future, this may lead to a decrease in the level of decentralization of this cryptocurrency and the emergence of a small number of companies that will be able to make changes and control the further development of Bitcoin Cash.

Interesting in the section: Hardfork, softfork or division of blockchain of cryptocurrency

 


The financial success of Bitcoin Cash has led to the creation of several new crypto-currencies, each of which has much in common with Bitcoin. How long these clones can survive in the market of electronic money, only time will show. One can say with certainty that "cash Bitcoin" managed to overcome one of the main drawbacks of cryptographic currency - the scalability of the block. Perhaps soon, Bitcoin Cash will be able to reach previously unknown heights and take a leading position in trading virtual currencies.

Editor: Yuliya Soroka

#BitcoinCash #Bitcoin #cryptocurrency

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