Stop and take a view about Game changer:Difference between bitcoin and bitcoin cash

2 22
Avatar for Zeshan777
3 years ago
Topics: Bitcoin Cash

As the sun of 1st March set and the 2nd March rise there was a sudden rise in Bitcoin cash that was amazing.It influenced so much to me.And I was curious to know the origin as well as difference between these two big currencies.After a lot of study,my mind was able to differentiate them as below.Hope so you will like my points.My personal view is that bitcoin cash due to its larger block size would be the future 1st digital currency it would lead from from front side to Market.And of course this rise is going to touch as 1BCH=1000$ at the enda of next two months.

Bitcoin is 1st cryptocurrency of the world.It is created by pseudonymous inventor Satoshi Nakamoto,the digits currency launched the age of cry pro currencies and block chain technology when it went live on January 3,2009.It is important that S.Nakamoto published a document explaining in great detail the technical specifications of his creation on October 31,2008,known as Bitcoin whitepaper.At 2:10p.m.Eastern Standard,people who has signed up to the cypherpunk-focused Cryptography Mailing list hosted on Metzdwowd received a message from S.Nakamoto titled"Bitcoin P2P e-cash paper".In the message,Nakamoto stated that he had been "working on a new electronic cash system that's fully peer to peer,with no trusted third party"which he believed would launch a new age where users could have a financial sovereignty.A few months later,Nakamoto mined the Genesis Block of the bit coin block chain,embedding in the coin base a text that said"The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks

Technical Details:

Bitcoin is an open,decentralized,peer to peer payment network.This means that it is possible for anyone with an internet connection to join the Bitcoin network and execute financial transaction on it.

Bitcoin Cash

Bitcoin Cash is hard fork of the original Bitcoin blockchain.The altcoin came to be on August 1,2017,following growing tensions between members of Bitcoin community over scaling concerns and how to dress them.The majority of Bitcoin community believed that the implementation of an update known as Segwit would be sufficient to significantly better processing capabilities on the bitcoin network.However,a small but determined group of people believed that block size would need to be increased in order to better scale network.Led by frontman Roger Very,the group implemented their own softwere,update at block height 478559,creating a new cryptocurrency.The new digital currency came to be known as Bitcoin Cash,an allusion to the division in ideology that buoyed the entire debate.The Bitcoin cash camp believed that the increase in block size would lead to the ease in use,allowing people,to employ the cryptocurrency as a transactional currency in everyday situations.

The big difference between these two is the fact that Bitcoin cash has a much larger block size to include more transactions in the set and thus better scale the network.This difference renders them un-interchangeable and,therefore,separate and distinct cryptocurrencies.

1
$ 0.00
Avatar for Zeshan777
3 years ago
Topics: Bitcoin Cash

Comments

Awesome+

$ 0.00
3 years ago

It itπŸ‘€πŸ‘€β€β€

$ 0.00
3 years ago