Bitcoin Cash is the fork of Bitcoin which is actually becoming quite popular. It is a revolutionary blockchain technology powering it as well. This is the reason why Bitcoin Cash is gaining a lot of significance. Moreover, the transaction verification times are also on the lower side. In the cryptocurrency economy, it is predicted that sometime in the future, Bitcoin Cash can actually beat Bitcoin and can be become the dominant cryptocurrency. We will today shed some light on the fact as to whether this is actually possible.
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Features of Bitcoin Cash:
- The block size of Bitcoin Cash is much higher at 8 MB.
- Bitcoin Cash has wipe out and replay protection.
- Bitcoin Cash can easily handle a lower hash rate.
- The fees of Bitcoin Cash are on the lower side.
- The fees of Bitcoin Cash are more consistent.
- Transaction batching and other such techniques which compromise privacy are included in Bitcoin Cash.
Problems with Bitcoin:
When you look at problems with the Bitcoin, you will realize that Bitcoin network has slowed down considerably. It is taking around 3 to 4 hours for the transaction to get verified. On the other hand, Bitcoin Cash is verifying the transaction within a few minutes. As a result, the network usage won’t impact Bitcoin Cash at all. This is one of the main reasons why Bitcoin Cash is gaining such a lot of traction.
Transaction fees:
When you look at the transaction fees of Bitcoin and Bitcoin Cash, you will realize that Bitcoin Cash wins hands down. The transaction fees of Bitcoin are almost $ 20. On the other hand, when you’re looking at Bitcoin Cash, they are significantly lower. As a result, when you are conducting the smaller transactions as well, you will be able to easily conduct it with the help of Bitcoin Cash. On the other hand, when you’re using Bitcoin, a significant portion of the transaction amount will be paid in the form of fees.
As a result, Bitcoin definitely has a few disadvantages. These few disadvantages are actually the advantages of Bitcoin Cash. However, no one can take from it that it is actually the pioneer cryptocurrency. That is why in the longer term Bitcoin is here to stay. Even though the traction of Bitcoin Cash can increase significantly but there are very little chances that Bitcoin Cash can actually take over Bitcoin. If you’re looking for a good investment, then certainly Bitcoin Cash is one of the best options for you.
