Jump to content

Bitcoin Cash Review


Recommended Posts

As the name suggests, Bitcoin Cash has been forked from Bitcoin itself in 2016. When the developer community of Bitcoin could not come to an agreement regarding the changes required in Bitcoin’s code, it was forked into BCH and it currently ranks in the middle among the top 10 cryptocurrencies.

Note: A fork is when a cryptocurrency is split into two. Parent cryptocurrencies retain their features while the child cryptocurrency undergoes technological improvements.

The purpose of creating BCH was to solve some of the existing problems of Bitcoin, especially regarding scalability and transaction fees.

Pros of Bitcoin Cash

Bitcoin Cash transactions are faster than Bitcoin transactions because of the increase in block size to 8MB as compared to the 1MB of Bitcoin.
Average Bitcoin transaction fees are currently around $1.8 which has gone down to $0.067 in the case of Bitcoin Cash.
Cons of Bitcoin Cash

Bitcoin Cash, like Bitcoin, is expected to be completely decentralized.
BCH mining is as expensive as Bitcoin mining but gives lesser returns, so it is not a favorite among the miners.
Bitcoin Cash is not as easily available on cryptocurrency exchanges as the other top 10 cryptocurrencies.
Historical performance

Launched just in 2016, Bitcoin Cash has grown very quickly to make it to the top cryptocurrency list. It grew from about $500 in July 2017 to about $4,000 in December 2017, giving a return of around 10,000% in less than 6 months.

The price of Bitcoin Cash has also been experiencing a steady downfall since ay 2018. With a few signs of life, the future of BCH is still quite uncertain.  In the last quarter of 2020 Bitcoin Cash recovered a bit and is expected to go steadily upwards. 


 

IMG_20210114_150856.jpg

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...