Join 100,427 users already on read.cash

Bitcoin Cash: A walkthrough

0 10 exc
Avatar for CryptoAddicted
Written by   2
1 year ago

Bitcoin Cash a hard fork of the actual Bitcoin Blockchain with a minimalist circulating supply of 18.82 million BCH coins and a max supply of 21 million BCH. Bitcoin Cash was originally created to be an alternative to Bitcoin where transactions have faster approval and hence an overall balanced crypto transactions. The use of BCH currently is limited to certain casino sites and platforms like read.cash or notice.cash and finally faucets and general trading. This addresses a divergent approach from the initial motive of creating a digital cash with added security and fast transactions. We are not saying BCH is not secure or slow, but the market status and it's utility is not as productive as it was initially forked for.

A brief take on the market status as highlighted on CoinMarketCap.com is a highly manipulative forcast. With its initial price of $120 in 2015 it had moved to an all time high of $2500 with BTC domination, it was recieving its share of the market. But relative in 2021 May, a strategic manipulation takes place in the whole crypto market taking hit on huge crypto currencies including BTC and ETH. This also impacted the BCH markets as well. While the utility of BCH were limited or say widely not accepted, the market also saw a huge dip to an all time low of $250. In the last month it has shown some recovery with an overall 3.6% increase from the last low at the time of writing. But the real concern is that while the BTC market have recovered crossing $46000 per BTC and other crypto markets on a 'no looking back' hype, BCH seems a little solidated from taking productive advantage of the current market hype. Nonetheless, as long as we don't increase its utility protocols and mass awareness/acceptance is realised, I believe it is a long way from recieving its share. As of now it's green at $600+ mark.

Another probable option is either increase use of BCH in our day to day the economic activities. For Developers and Blockchain enthusiasts, it's an opportunity to create various DAPPs which may be in any sector like NFTs, Games, Casino, Exchanges or any other offchain apps. The more such sources, enabling economic activities through BCH, the higher the chances of BCH lovers and supporters in realising the communal goal to bring back BCH's lost glory. And another option or a factor which reflects our target of bringing back BCH on track is maximising it's social and public exposure. Hence, whoever reading this, please make sure you share this article and other articles and news on BCH as much as possible. Transactions at lightning fast speed with added security and sustainability, is that not what we want from a crypto currency? If yes, Bitcoin cash is the solution. Do get it and share as much as you can. 🙏🏿

1
$ 0.00
Avatar for CryptoAddicted
Written by   2
1 year ago
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments