BCH Version of Bitcoin Doesn't Need Any Layer 2 Add-On
People boast about Layer 2 solutions for cryptocurrencies.
Layer 2 add-on is an additional layer to speed up cryptocurrency processing.
Layer 2 add-ons are supposed to solve the so-called scaling issues of cryptocurrencies.
For example, the Lightening Network is a Layer 2 solution to the BTC version of Bitcoin.
Optimism is a Layer 2 solution to Ethereum scaling issues.
BitcoinCash, or the BCH version of Bitcoin, doesn't need layer 2 add-ons
I wonder why cryptocurrency investors don't support those cryptocurrencies that don't need any Layer 2 add-ons.
One example is the BCH version of Bitcoin.
I am writing about BitcoinCash.
BitcoinCash doesn't need any Layer 2 add-on.
Graphics: I created it using a BitcoinCash logo and my texts.
Bitcoin Cash completed six years of existence!
Innumerable cryptocurrency projects exist worldwide. Of these thousands of cryptocurrencies, only a few tens are performing well in impacting use cases and real-world adoption positively.
Bitcoin Cash is one of the best-performing cryptocurrencies that started with a hard fork of the original version of the Bitcoin blockchain.
Bitcoin Cash was created on August 01, 2017, and started as a hard fork of the original Bitcoin blockchain. Bitcoin Cash increased the block size, thereby solving Bitcoin's scaling and speed issues.
I watched the BCH graph and talked live on YouTube on June 27, 2023 when BCH price was hovering around $200.
Now, the BCH price is rising again. Recently, it has crossed the $500 mark in the first week of March 2024.
Screenshot of BCH price graph (March 06, 2024) Source CoinGecko
The first six kidding years of BCH trifled away.
I will not write about how much market cap Bitcoin Cash now got, its daily hash and trading volume, price cap, or any other performance metrics.
Because you will quickly get an authentic picture of all this data on the official webpage of the Bitcoin Cash project, there is no contribution in the "copy-pasting" of those data texts.
The first five years are crucial for any kid, whether a human, animal, technology, or business project.
The most enjoyable kidding experience we get in the early years of our life is the learning of new knowledge, language, skills, and many things.
Five years is a little time, and it has trifled away like a blink of an eye.
The Bitcoin Cash stakeholders have learned and experimented.
How BCH predicts value.
Screenshot of BCH price graph (June 27, 2023) Source CoinGecko
Screenshot of BCH price graph (March 06, 2024) Source CoinGecko
The price cap of BCH is rising again, directly inspiring the stakeholders to use it more.
The real value of every earthly object comes from its real-world utilities and diverse use cases in human society. The same is true for BCH.
The real value of BCH may be assessed from its utilities, performances, and resource requirements.
The value of BCH comes with its mass adoption, its true potential for business, its utility as electronic money to improve the global economy, and its speed and cost of performance.
The most important trait of BCH is its decentralized operation, with continual innovation and the development of new applications.
The future of BCH is important in terms of innovation and strategy.
Prominent cryptocurrency brands show promises in their technology and adoption, and uncertainties in their price cap.
The success of a cryptocurrency partially depends on its
(i) performance in terms of scaling and speed,
(ii) fees per transaction,
(iii) adoption by the common mass,
(iv) continually improving technology.
Bitcoin Cash brand has shown enough promise during the last five years of its existence. Bitcoin Cash has NICELY satisfied the above four criteria.
One parameter is in the people's hands: the adoption of cryptocurrencies. For that matter, the dot-cash platforms have impacted the promotion of Bitcoin Cash to the common people.
In short, Bitcoin Cash has made a solid innovation-based existence for five years showing evidence of how Bitcoin Cash strives back again.
How may you contribute to Bitcoin Cash's strive?
There are innumerable ways you can contribute to the strive of Bitcoin Cash.
You can buy BCH
You can hold BCH
You can use BCH for peer-to-peer payments
You can adopt BCH as the payment currency for your business
You can join as coders and developers in appropriate BCH projects
You can initiate a new real-world use case for BCH
You can submit bug reports to different BCH projects
You can write blogs in support of BCH
You can organize workshops on BCH in your locality
And so on ...
Conclusion
Bitcoin Cash started its journey as a hard fork of the original Bitcoin blockchain.
Six-plus years of the existence of Bitcoin Cash may be celebrated when the price cap is rising steadily.
As the parents of a six-plus years old child take full responsibility for its physical and mental growth, the founders and developers of the Bitcoin Cash project take full responsibility for its future.
The Bitcoin Cash brand will strive again soon by transforming the crypto hypes into FinRech hopes in various real-world use cases.
Postscript
Everybody knows that the future of technology use cases, such as Bitcoin Cash, may likely face unforeseen challenges.
Continuous research and development may only help to face unpredictable circumstances in the crypto domain.
I believe the Bitcoin Cash founders will continue doing the needful innovation in the core technology of Bitcoin Cash.
A few questions erupt in my research-curious mind.
Has the BCH community thought about what would happen if the price of BCH goes down again?
Have they thought about a native stablecoin?
<> Adapted from an article published on Publish0x.
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About me
I am a researcher and contribute to the overlapping areas of STEAM (Science, Technology, Engineering, Arts, and Mathematics). I am an active user and promoter of GNU/Linux, free and open-source software. I develop cybersecurity and information security solutions, specifically graphical authentication security.
Cheers!
Text Copyright © 2024 Debesh Choudhury — All Rights Reserved
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Cover Image: I created a GIF using a BitcoinCash logo and my texts.
All other images are either drawn/created/screenshots by myself or credited to the respective artists/sources.
Disclaimer: All texts are mine and original. Any similarity and resemblance to any other content are purely accidental. The article is not advice for life, career, business, or investment. Please do your research before you adopt any options.
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#cryptocurrency #bitcoin #bitcoincash #btc #bch #payment #blockchain #fintech
March 08, 2024
