A quick and proper look at Satoshi's Bitcoin white paper clearly reveal which of the cryptocurrencies we have today is winning the race for supremacy. We can not judge the race without looking at what the original Satoshi version of the Bitcoin white paper stated that a digital currency should be. As originally designed, Bitcoin possesses an unfathomable amount of flexibility that can surpass Visa, Mastercard, and any other power processing data management network that may exist. The Bitcoin protocol was originally built with no block size limit nor chained transaction limit. Bitcoin was built to be a Network of networks. But unfortunately, that's no longer the case today as the original roadmap for Bitcoin was compromised by later developers.
A currency that was meant for buying products has now become the product, and everyone in the Bitcoin community is a salesman. And the language is clear, "buy low", "sell high", "shill hard" and "hodl" etc.
Every other cryptocurrency buys into this model of BTC. From ADA to XRP, EOS, ZEC, TRX, BNC, and even Banano, all Defi coins follow that same model where the coin is the product and the holders are salespeople. A 100% deviation from what a cryptocurrency should be. None of these coin developers and users seek adoption. They all exist simply to sell tokens, enrich themselves as developers, travel around the world and enjoy a cruise On the Caribbean Sea. This is in stark contrast to the BCH model which is created as the real Bitcoin. Bitcoin cash is not so much a community of salespeople but an economy where the value of the network is not the coin itself, but what can be done with the coin. And like that, any technical inputs on the bitcoin cash network is enhance BCH usability as a currency. This is therefore the reason why there are constant battles against BCH in mainstream social media and crypto forums. BCH is a threat to the world financial system, and other incomplehensive faulty blockchain community and their silos of power.
Recently, the newly released tip.c was heavily lambasted and frustrated by Tweeter, and also on Reddit and other mainstream Crypto social media, the battle is the same. Why these constant battles and lambasting against BCH? The answer is simple. BCH is winning as a currency and not as a product, and they fear that should the world's leading businesses adopt BCH other cryptocurrencies will be as good as dead.
BCH major contenders
1. BTC
BTC Could well be regarded as digital gold, a good store of value, good enough only as a product and not a currency. An expensive, slow, and unreliable asset. BTC maximalists claim that it can be the new world money. In reality, that is far from the truth. BTC is now nearly the most poorly implemented and manipulated token of the decade. Has experienced all the abnormality that a currency aiming to be the world money should not be associated with. BTC has been arbitrarily rolled back twice, double-spent issues, and censorship. 5 transactions per second are too inefficient for even periodic settlement of financial assets to scale. And with a transaction fee as high as $10 and going higher based on the amount involved it is certain no one would find that convenient.
What Bitcoin cash offers in this regard. BCH will be capable of at least 30,000 transactions per second, payments are instant within seconds, reliable in a settlement, and having a flexible implementation. BCH transaction fee is only an insignificant amount 0f between $0.001 to $0.03 no matter the amount that is involved. Everything that Satoshi Nakamoto designed the original bitcoin to be is what formed the fundamentals of BCH. The BTC features we have today were never there in the beginning. Its valuable features have been deprecated and other features were added to limit scalability. BCH is the exact implementation of the original bitcoin, which is why it is fast, reliable, flexible, and secure.
2. ETH
Ethereum could do three times of what BTC can do in terms of transaction, and nowhere near BCH. Roughly 15 transactions per second across the network. With a transaction gas fee as high as $500 users are trying to figure out how this can replace any valuable asset of the human economy. Etherium was built as a special-purpose tool for application software enabling almost anyone to create a token using the Defi application.
BCH is about 3000 times more efficient than Etherium. The BCH fundamentals as an innate to Bitcoin makes it stand out higher above Eth. A lot of applications have been created on the Bitcoin cash network that is not only capable of competing with Ethereum applications but can beat them. With SLP tokens, such as Monolith and Zapt and several other applications that could not be mention here, BCH is well in a position to serve efficiently both as a network and a currency.
Other pretenders
Almost every other token is pretenders on the race as they are either a side chain or a clone o Ethereum with slightly different rules. They all have similar problems as Ethereum. Coins such as Cardano, Polkadot, Tezos, Binance coin, Tron, EOS, etc none can scale. And besides, there is no adoption for any of these coins. Hands down, none of these pretenders can match BCH both as a network and as a currency.
In short, BCH does not have competitors among these pretenders coins. Almost all the new blockchain are created for special purpose networks focusing on narrow use cases.
BCH was created with a perfect balance of security, speed, and ease of use that cannot be re-engineered or broken apart without facing dire consequences, and as Satoshi said, “…it never really hits a scaling ceiling.”
The race is already won, and any other technical inputs anyone may try to come up with to find efficiency on any competing token is only a waste of money. BCH speed, efficiency, ease-of-use, and the only network that scale without a much cost for its users makes it fit for use in the global economy today: And while all of the other blockchain developers have been pocking Champaigns on the back of their gains during a bullish market run, BCH developers have been working on innovations geared towards mass adoption of BCH. With the innovations, BCH is ready for a global scale business move that can reduce payment friction, increase transparency, and ensure perfect ownership.
We'll see how it works out. A well written article that will be an eyeopener to (new) users and investers. 👍🍀