History of Bitcoin cash: Bitcoin cash started in New York in 2017. In 2017, Bitcoin cash was discussed at the CONSENSUS meeting. And then, Coindesk makes a report in April 2017. They have reportedly broken Bitcoin's record.
Bitcoin cache has the advantage of Segit2x. In 2017, Consensus agreed that Bitcoin cash will launch 2mb hard fork withing six months.
2 MB block size allows fast transaction and no transaction be stuck. However, they will do so by November 2017.
Segregated witness helps to increase the speed of the transaction.
Here is what we get in Bitcoin cash:
1. Bigger blocks 2. More transaction 3. More throughput 4. Faster transaction 5. Lower fees
Bitcoin cash builds its own blockchain. The block of Bitcoin cash is increased to 8 MB. And, transactions with Bitcoin cash can be done for a very low fee. And, this is my favorite feature.
Bitcoin cash is a peer to peer network, and it is an electronic cash is converted to 32 MB. As a result, users of Bitcoin cash will get more benefits. Do you realize how much faster the transaction will be as a result of increasing the block size? As a result, everyone will be able to transact at a lower fee and the transaction will be faster.
Chart of Bitcoin and Bitcoin cash transaction fees: In 2017, the average fee for Bitcoin was $4.50-$6.8. And, at that time, the fee for Bitcoin cash fee was only $0.03-$0.10.
And, if you look at the 12th month, you can see that the Bitcoin fee was $10.11-$16.34 and then the Bitcoin cash fee was only $0.01-$0.21.
Those who used Bitcoin had to pay a high fee for each transaction. And, those who used Bitcoin cash used to transact with very low fees.
Transactions with Bitcoin cash were done for a very low fee. As a result, everyone is inspired to use Bitcoin cash. If you are currently transacting with Bitcoin, you will have to pay a higher fee to transact, and you will have to pay a very small fee to transact with Bitcoin cash.
Bitcoin cash hash rate chart: Hash rate power gives cryptocurrency network strong security. And, the bitcoin cash hash rate seems powerful to me. This will keep the transaction secure. However, in July 2021, the hash rate went down a bit. Having a good hash rate can lead to less blockchain attacks.
Hash power consumes 51% of the attack. You can see the cost of attack in three of these blockchains. In 1 hour of Bitcoin cash attack cost is $6152 and hash rate is 1.973PH/s.
Features of Bitcoin cash: Cheap transactions can be done with Bitcoin cash. Transactions can be done quickly. Exchange has extensive support. Bitcoin cash's community is very strong and energetic. The number of merchant is increasing.
Comparison of Bitcoin cash with other coins: Bitcoin cash is not a Bitcoin, Bitcoin cash has a separate blockchain. Bitcoin cash future is better than Litecoin, xrp, doge and other coins. If you transact with Bitcoin cash and other coins, you will find that its transaction is less than that of all coins.
Bitcoin cash, digital cash. And, it will take everyone's mind very quickly. Gradually, its demand and acceptance is increasing. Bitcoin cash usage is increasing and its ATM booths are available everywhere. So, I want to call Bitcoin cash the gold of the future.
Image source: Internet and screenshot.
and to tell you, bitcoin has become a tool worth investing into. since its inception, it has continued to liberate individuals from the clutches of government fiats. cryptos are true equalizers of men. but, the future of crypto still remained blurred in any aspect