How is Bitcoin Cash Different from the Old Bitcoin?

Mar 19, 2019 by

Bitcoin is considered as the most popular Cryptocurrency among the others currencies that are available in the digital space within network of computers and blockchain. It makes use of the revolutionary ledger recording technology which makes the transactions of the Bitcoin to exist on computers across the globe. This currency is divided into two kinds which include Bitcoin core and Bitcoin cash where the former has more likeliness of the currency and the latter is somewhat different from the main Bitcoin. If you are interested in doing transactions in Bitcoin or even playing at a Bitcoin online casino, you will need to find out how is Bitcoin cash different from the old Bitcoin?

Bitcoin cash is a crucial part of the Bitcoin but there are some major differences between the two that you need to know as it will help you decide where you should invest your money.

Bitcoin cash is a crucial part of the Bitcoin but there are some major differences between the two that you need to know as it will help you decide where you should invest your money.

Bitcoin cash is known as the hard fork of the Bitcoin which is the fourth largest crypto-currency and it is known as hard fork because the miners and developers does not agree on the proposed change to this software even when it is operating on the same blockchain. This has lead to the formation of two groups where the first group of nodes or the computers connected to network is a part of the crypto currency transaction and will also upgrade to this new software while the other group is known to operate on old rules thereby creating two different digital currencies and blockchain. Previously there was only a single kind of Bitcoin or BTC and efforts were ongoing for putting in efforts for using it as actual currency but since it cannot be used for the desired objectives, it has led to the rise of Bitcoin cash which is a new crypto currency popularly known as BCH.

While Bitcoin is the oldest and most popular crypto currency, BCH is the crypto currency that has been created via fork of Bitcoin network which means that individuals having Bitcoin at the time of fork will have an equivalent amount of the BCH forked on the Bitcoin cash blockchain. Bitcoin is different from Bitcoin cash because the latter is the result of many years of hard work and toil for scaling the Bitcoin so that it can be used by many users. Hence in Bitcoin cash the Max Block size limit parameter has been increased while it remains the same for Bitcoin which is one megabytes but the BCH has been increased to a maximum limit of 8MB. Hence the number of transactions that can be carried out by the Bitcoin is about 250,000 while the Bitcoin cash will have about two million transaction per day that are processed at a higher speed. Moreover with the equal hashrate provided to both of these currencies, the Bitcoin cash allows more transactions per second that results in lower fees and faster payments.

The Bitcoin cash is not a viable alternative to the Bitcoin but it is known to have economic and technical critique but does not make both of these currencies same as there are many things that sets them apart. But the Bitcoin cash is even more popular in the present times because users are discouraged to use the old Bitcoin due to long transaction times and ever increasing fees. Whereas the newer version of the Cryptocurrency is being widely used as it offers benefits like lower fees as well as reliable rate of transaction as compared to its competitors.

The value of crypto-currencies like the old Bitcoin and Bitcoin cash is determined by the value of the amount of the currencies being used, adopted and demanded which also helps in analyzing the value growth and return on investment. The older version has been holding maximum amount of users until now, Bitcoin cash has also been gaining popularity among the users as its value is increasing at a faster rate. While the BCH is still in the stage of realizing and capturing as it is finding its stand

on this crypto market, Bitcoin Profit has already received a prominent place in the industry as it is a reliable option among the other kind of currencies. But Bitcoin cash has been successful in addressing the scaling issues that was a major hurdle in the old Bitcoin that has helped it to lower its fees for the users who can use it in an easy and convenient manner.

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