August 1, 2017 Bitcoin Cash was created as a result of fork, as an alternative to the famous Bitcoin crypto currency. In the first months of its existence, the “daughter” of the crypto currency won interest from the users. At the moment Bitcoin Cash is the fourth by market capitalization. The recent collapse of Bitcoin forced some investors to switch to the use of an analog, reports ftimes.ru. Soon the promising altcoyin can outperform its predecessor in the course.
Bitcoin Cash is a virtually accurate Bitcoin prototype. The cost of \ “child \” crypto currency is several times less. Despite this, the Bitcoin Cash rate has skyrocketed for the first half of the year. At the moment the cost of one unit of BCH is 1,243 dollars.
For 1 Bitcoin it is possible to purchase 6.54484300 BCH, which clearly demonstrates the correlation of the courses of Crypto-currency. Altcoin is foreshadowed by a great future. In the long term, it can even outperform the advanced crypto currency of the market.
Differences Bitcoin Cash from classic Bitcoin
Bitcoin Cash appeared last summer against the backdrop of Bitcoin’s popularity. We have received a crypto currency as a result of hard fork of the original blockade, transfers ftimes.ru. The event did not become a surprise for the stock exchange’s players, since earlier this issue was discussed more than once. Bitcoin Cache is an improved version of the classic Bitcoin, which has two major differences.
First, Bitcoin Cache allows you to make more transactions. If Bitcoin has the size of one block of 1 MB, then the “child” of the crypto currency, this figure reached 8 MB. It is assumed that it was precisely because of the small volume of blocks that a more progressive altcoyin had to be created.
Also, the option of introducing Segregated Witness (SegWit) technology was considered, which would allow transferring some of the information from the block to the backup. Major miners did not support the idea, so the option of creating a second version of the crypto currency was used.
The second difference of Bitcoin Cash is the ability to change the complexity of every 6 blocks, unlike the 2016 Bitcoin blocks. This makes Bitcoin Cash somewhat more reliable than its predecessor.
In the future, the Bitcoin Cash rate may become larger than Bitcoin’s
Representatives of Bitcoin.com are increasingly inclined to the opinion that Bitcoin Cash will eventually replace the classic Bitcoin. Co-founder of the organization Emil Oldenburg admitted that Bitcoin does not have a chance as a trading currency, reports ftimes.ru. Moreover, a large investor sold his savings in Bitcoins, but in general, he did not refuse to crypt. Oldenburg chose to switch to the use of a more modern analog – Bitcoin Cash.
The second representative of Bitcoin.com – Roger Ver sure that the current collapse Bitcoin Cash after Bitcoin – a temporary phenomenon. Bitcoin will soon depreciate, according to the expert, and Bitcoin Cash will rise in price and surpass the main competitor in the market.
In terms of technical analysis, the price dynamics of Bitcoin Cash remains dominant. Experts believe that the classical crypto currency has faced an “evolutionary dead end”, so it is unlikely to surprise the players of the exchange in the future.
Bitcoin Cash was called a true crypto currency, and Bitcoin fork
The National Institute of Standards and Technology USA (NIST) published a report in which it was said that Bitcoin is Bitcoin Cash, and not as all previously assumed, reports ftimes.ru. Such a statement caused a lot of discussion. The 57-page report “Overview of Blocking Technology” contains a huge number of errors, including those related to Segregated Witness (SegWit) technology.
The authors claim that Segregated Witness (SegWit) was activated on the Bitcoin network through hard fork. Also Bitcoin Cash was called the true classical crypto currency, based on Satoshi Nakamoto’s vision of digital coins, which he described in his whitepaper.
Earlier, this assumption was voiced by Roger Vero. However, he does not deny that it was Bitcoin Cash that appeared as a result of the fork on August 1, 2017. Experts from NIST are sure of the opposite.
This month, the Block Explorer browser developers reported that they are switching to Bitcoin Cache completely. Moreover, the alternative version will now be called simply Bitcoin.