Bitcoin Cash (BCH)

Bitcoin Cash brings seeks to bring sound money to the world so as to empower users with low fees and reliable confirmations. With the global adoption, unrestricted growth, decentralized development, BCC has a very huge potential for growth. Some new features which Bitcoin Cash offers its users are:

• Increase in Block Size limit. The Bitcoin Cash has come with an increase in the Block size limit from 1.9 MB to 8MB which offers a lot of relief to users.
• Replay and Wipeout Protection. With a well-thought-out replay and wipeout protection system, Bitcoin cash permits a peaceful coexistence between the Bitcoin and the Bitcoin cash while minimizing user disruption.
• New SigHash Type. Bitcoin cash has introduced a new way for users to sign transactions as part of its replay selection process which brings some additional benefits such as the elimination of the quadratic hashing problem and improved wallet security.

Bitcoin cash is fast and reliable, and allows transactions to be performed in seconds with confirmation received in a matter of minutes. Also, it is a network that runs without congestion making it very reliable. It is very stable with a payment system that is a proven store of value. Fees for transactions are very low be it sending or receipt of money, or payment for services. BCC is simple and very easy to use and is also very secure as it uses cryptography and high-standard robust blockchain technology for security purposes. As a result, funds are safe and not subject to manipulation or interference.

In 2017, the capacity of Bitcoin hit a wall causing it to become reliable as prices skyrocketed and users were unable to get their transactions confirmed, despite the fact that they waited for days. And all these problems could be solved by increasing the maximum limit of Bitcoin’s code which at the time stood at 1 MB. Because the community could not reach a consensus on the matter, many users of Bitcoin abandoned it causing its market share to fall from 95% to 40%. With this, there was a split which led to the formation of Bitcoin Cash in an effort to solve these problems. With the increase in BCC’s block size limit, users benefit from low fees and fast confirmations causing a growth in the network which will offer a chance for businesses, merchants and investors to return and benefit from this new venture.

Recently, the BCH became more profitable to mine than the Bitcoin even if it was temporarily. Because of a recent difficulty adjustment as a result of BCH’s code, BCH’s mining difficulty was greatly reduced. This 60% reduction in BCH’s mining difficulty attracted about 40% of Bitcoin’s miners. Unfortunately, because of this huge hash power surge and the low mining difficulty, 2016 BCH blocks were produced very quickly which caused Bitcoin Cash to become harder to mine making it once more less profitable than Bitcoin. This again caused miners to abandon Bitcoin Cash in favor of Bitcoin. At present, Bitcoin currently averages a little less than six blocks per hour over the last seven hours while the Bitcoin Cash averages just over one block per hour for the same time period.