You must have heard about the cryptocurrencies like Bitcoin and Bitcoin Cash. But probably you are still confused about differences between bitcoin and bitcoin Cash. Bitcoin Cash (BCH) was created from Bitcoin and a fragment of a blockchain that’s why it is called fork of a bitcoin.
What is Bitcoin?
Bitcoin is the first digital currency created in 2008 by Satoshi Nakamoto. Bitcoin allows users to do online payments from one party to another without requiring financial rules.
Bitcoin is free from authorities and blockchain transactions are run and verified by powerful computers.
What is Fork?
Fork is a blockchain technology that created by updating original code. There are lots of Bitcoin forks but none of them is owned like BTC CASH. Original BTC blockchain remains unchanged while updates split off from blockchain to create btc cash which has its own blockchain.
What is Bitcoin cash?
Bitcoin Cash (BCH) is a version of Bitcoin core that first announced in august 2017 that’s why it is younger than BTC. BCH created because developers was concerned about the future and scalability about BTC.
What about differences?
Transaction Fees: BCH’s transaction is lower than BTC. Transaction fees for BCH İS $0.0019 and BTC’s transfer fee is$0.20 per transaction. Thats why making transactions in Bitcoin cash can save you money than Bitcoin.
Transfer Time: BCH’s transfer time is faster than Bİtcoin’s. BTC network is slow because of the problems in its blockchain. In BCH users don’t have to wait to get their transactions verified.
Blocksize: BCH has its own blockchain that significant distinction from BTC. order to speed up the verification process,BCH increased its block size to 8mb.
block size of Bitcoin is limited to just 1MB that lowers its transaction speeds while increasing its transaction fees.
due to the larger block size of BCH there is some serious problems such as due to faster transaction speed, the security of Bitcoin cash could be compromised as compared to the Bitcoin network.
More and More Transactions:
BCH can operate more transactions per second which means a lot more people can use BCH at the same time due to the large block size of BCH.
Price:
One of the main points of comparison between Bitcoin and Bitcoin cash is pricing. No cryptocurrency can beat Bitcoin on pricing. Since March 2010, the price of 1 Bitcoin,substantially increased to more than 12 million per cent. Sadly the performance of BCH is not strong like that.Bitcoin cash had also lost around 65% of its value since 2017 when it was first created.
