What is Bitcoin Cash – Explanation
Bitcoin Cash was created in response to the years-long debate within the Bitcoin community about how best to scale Bitcoin to more users. The simplest solution was Bitcoin Cash. Although the Bitcoin block size limit remains at one megabyte bitcoin kurs (allowing around 250,000 dealings per day), Bitcoin money has bigger the limit to 8 MB, allowing for approximately two million dealings per day! The main difference between Bitcoin and Bitcoin Cash is the fact that the Bitcoin Cash protocol allows more transactions per second, which translates into.
What caused the hardfork between Bitcoin and Bitcoin Cash?
Bitcoin blockchain technology relies on blocks of data. As the interest in Bitcoin increases, the number of transactions also increases, making the data blocks fill up faster.
The turnaround time and recording of the transactions were longer because they required new “blocks” to confirm and verify them, which cannot be done more quickly by the miners bitcoin kurs. Again, without going into technical details, this has become a scalability problem. The size of the Bitcoin block had to be increased, which required a software update and the “fork”.
There are a number of technological differences between Bitcoin and Bitcoin Cash, like the fact that Bitcoin Cash is smaller block size. From the trader’s point of view, the difference is that Bitcoin and Bitcoin Cash are now two separate crypto-currencies while being derivatives, there are now two separate financial instruments – BTC (Bitcoin) and BCH (Bitcoin Cash Exchange) . This cryptocurrency is still evolving. As a first step, the blocking limit has been adjusted, with a default value increased by 8 MB, but research is underway to allow future massive increases!
