I am not sure how you guys will take this discussion but this might happen some day for some reason. This morning, I was scrolling on Noise Cash and saw one BCH fan user post so we talked about BCH and BTC. later he gave me a link about BCH and BTC advantage. So I have opened the link and watched the 15 Minutes long video where different topics come out but the main topic was BTC and BCH transaction fees.Â
And fees and fast transaction, which is the only reason why BCH lovers say BCH is the next BTC. Well, I need to agree about it now. Though I do not know how long BCH will survive in this competition of crypto. Anyway, in my last article I wrote down how the lightning network works and why it was created . Currently lightning networks work for two currencies such as BTC and LTC. So when ever a btc lover going to say they have scalability problem but there has solution too then BCH lover say LN is off chain network so do not talk about it😄. Well!
Anyway, as you all know bitcoin block size is only 1 MB and per second it can allow 4-5 transactions. Visa can allow up to 1500 transactions per second and Lightning network can allow up to Million transactions per second. On the other hand, Bitcoin cash block size is 8 mb which can  allow up to 32-56 transactions per second. And currently there is no pressure on BCH blockchain and everything is running fast there. But how will this be when BCH adoption becomes done worldwide and per second BCH transaction rate increases up to 10x than now? Suppose now per second BCH transactions are coming on blockchain up to 15 and in future if this number increases 10x then the transaction number per second will be around 150. Can you imagine this?Â
If this really happens in future then BCH will face two problems. Number one, it’s transaction fees will increase and secondly the transaction time will increase as like now btc facing. But how? Whenever BTC transactions come into the mining pool then the miner first looks to those transactions which provide high btc fees so the miner mines those transactions first . Then this comes about time, because those transactions that pay low fee usually get ignored by the miner first and when the miner sees there is no high fee paid transaction then they mine this pending transaction one by one. But why does this happen on BTC blockchain? This is just because of btc blockchain network scalability which happens for a high transaction rate every second.Â
So when the BCH transaction rate will increase and this will increase for sure because the next generation will be into crypto currency only. And according to the BCH team, BCH will be the digital assets and merchants will look for BCH for everything. So this surely indicates the transaction rate will increase and BCH will face the same network scalability problem.Â
What comes next? The lightning network is for every currency in the near future. Anyone can use it without a transaction fee and enjoy the transaction with lightning speed.Â
What is your view about this topic?Â
Well, I don't really know much about crypto mining and transactions, I am just new to it and really hope to know more about it so I can be able to contribute my opinion about the future of BCH