Tuesday, July 14, 2020

Why Bitcoin Cash Has Currently A Bigger Future Than Bitcoin

Many things have been said about what cryptocurrency is the best, and many things must be taken into consideration to answer that difficult question. Many will answer Bitcoin without hesitation. But Bitcoin presents a series of difficulties and has chosen a path that will ultimately relegate its use to a value of storage in the future.

Bitcoin Cash is a cryptocurrency that was born as a technical hard fork of Bitcoin, due to the increasingly growing problem of transaction fees; the solution approach was different for two opposing sides, and this cause a rift inside the bitcoin community. The bitcoin side decided to solve it by programming a different platform outside the blockchain to process this probable excess of transactions. Bitcoin Cash proposers just found a way of processing those transactions in the same blockchain, modifying some parameters. This is also a thing that makes it better: there will be less complexity in the programming of its operations in the near future, and transaction fees are and will continue to be way lower.

Another thing that Bitcoin Cash does better that bitcoin is in innovate. There are plenty of innovative applications based on Bitcoin Cash that are already available now for its use. Cointext is a clever service that lets you send (and receive) remittances in the form of bitcoin cash all around the world, using only a feature phone with SMS support. This service is important in third world countries where a smartphone is not a viable expense for most of the population. Memo is a message-posting app that uses the storing capabilities of the same blockchain to share information a la-Twitter. Bitcoin innovation, outside of the same blockchain seems to have stagnated.

And last, but not least, its Community and Foundation have a social interest that is uncommon in the cryptosphere. There are many social initiatives that are built around Bitcoin Cash, with funds of the Bitcoin Cash Fund and of the miners all over the world. An example of this is @eatBCH, an initiative that uses international Bitcoin Cash funding through remittances to provide Venezuelans with food. And like this, there are many more initiatives that leverage bitcoin cash low fees to do its work.

Bitcoin Cash surged like a fork of Bitcoin, but it has made merits to differentiate itself from its sibling, and this, joined by its latest price performance will catapult it to the spotlight of the market.

Latest News

Low-Cap Index Hits All-Time High as Small Cryptocurrencies Rally

A novel index of 50 low-capitalization cryptocurrencies made new all-time highs as it continues to outperform bitcoin.

The Real Story Behind Tesla’s Crazy Rally

As Elon Musk settles into being richer than Warren Buffett, NLW looks at what is driving the Tesla stock rally.

Google Searches for Chainlink Hits Record High as Link Token Rallies

Have you googled Chainlink lately? You're far from the only one, according to new data.

Blockchain Bites: It’s Never Been Harder to Mine Bitcoin

Bitcoin's mining difficulty is at a record high, Singapore's CBDC may find commercial use and Chinese companies are going in on Filecoin.

Polkadot’s Inaugural Vote Could Expand DOT Supply by 1000x

The first vote on Polkadot will be to see whether the DOT supply should be redenominated by a "logical" 100x or even by 1000x.