Bitcoin cash was brought into existence on 1 August 2017. At a period of time when high fees and a huge backlog of unconfirmed transaction was the main bottleneck that bitcoin faced and many solutions were proposed. Bitcoin cash and segwit were some of them. However, there was no consensus amongst adopters as to which of these options was the better one. As a result of wide disagreement on proposed solutions to the massively rising fees and unconfirmed transactions on the Bitcoin network, Bitcoin Cash was introduced as a hard fork.
Bitcoin Cash(BCH) has the following advantages over Bitcoin(BTC).
- Bitcoin cash has successfully raised the block size limit to 8 mb. What this translates is to more bitcoin transactions can take place each time proof of work is validated.
- While BTC has a transaction rate of 7 per second BCH is estimated to possess a rate of 61 transactions per second.
- Some adopters argue that BCH is the true Bitcoin as was envisioned by Satoshi Nakamoto, Bitcoin has now become more suitable as a settlement layer than for an actual transaction medium. Due to centralization of developers in Bitcoin, BTC has digressed from Satoshi’s true vision.
- While the transaction fees for Bitcoin in December 2017-January 2018 averaged 30 USD per transaction It was 0.3 Dollars for Bitcoin Cash.
- At a market cap of $20.6 Billion USD BCH is the fourth most valued cryptocurrency
Bitcoin Cash unlike many other cryptocurrencies is not just a copy of bitcoin, it has features that are fundamentally different and the usefulness of these features make it a major competitor to Bitcoin.
CXIHUB is the best and most secure exchange in India to trade in Bitcoin Cash.
You can start trading in Bitcoin Cash at CXIHUB right now. CXIHUB also enables you to store your Bitcoin Cash securely in our wallet and you can also proceed to transfer your Bitcoin Cash to your CXIHUB wallet.