Bitcoin is the king of cryptocurrencies. Bitcoin is the first cryptocurrency in the world. The journey of cryptocurrency starts from Bitcoin. So, in the crypto world, nothing can be imagined except Bitcoin. When, Bitcoin came on the market, the price of Bitcoin was much lower, then you had to pay a lot of Bitcoin to buy a pizza with Bitcoin. In fact, those who bought and held Bitcoin then are billionaires today. But, at that time, nobody bought Bitcoin. Because, then everyone called cryptocurrency fake. It has taken a long time for cryptocurrencies to become popular in the market. And, what is the value and demand of cryptocurrency today.
Bitcoin: Bitcoin was created in 2009, and is the world's first and best cryptocurrency.
Bitcoin cash: Bitcoin cash was created in August 2017. It is also very popular nowadays.
I will now highlight some differences between Bitcoin vs Bitcoin cash.
Block size: The block size of Bitcoin is 1 MB, and as a result, it takes a long time to transact with Bitcoin. Due to the small block size, the transaction gets stuck in a traffic jam in the block. And as a result, it takes a long time to transact.
The block size of Bitcoin cash has now been increased to 32 Mb. Earlier it was 8 MB, but now it has been upgraded to 32 MB. As a result, users can transact faster.
Transaction fee: Bitcoin costs a lot more, and the small block size of Bitcoin cash requires a lot of fees to transact. If you drink tea in a restaurant, and the tea bill is $3. If you want to pay with Bitcoin, you need extra $10-$20 to send your $3. Then your loss will be more. And, I don't use Bitcoin, because of the high transaction fees.
Bitcoin cash's transaction fees are very cheap. If you want to pay with Bitcoin cash, you can definitely pay. If you drink coffee in a restaurant, and the bill is $5. Then, you may have to pay a fee of $0.05-$0.10 to make the payment. In a word, you can make very fast and cheap transactions with Bitcoin cash.
Transaction Speed:
When, Bitcoin cash had a block size of 8 MB, it was able to transact 61 times per second. But, now it has been upgraded to 32 MB block size. Then, the transaction speed of Bitcoin cash has tripled.
Bitcoin block size is 1 MB, transaction can be done 3-7 times per second. As a result, many transactions get stuck in blockchain. As a result, users suffers problems.
So, just by looking at some differences above, you can see how profitable it is for us to use Bitcoin cash. However, I already use Bitcoin cash, and still use it.
If you like Bitcoin or Bitcoin cash, please comment.