Review on Bitcoin Cash by francis fernandez
Bitcoin Cash is the product of one of the many forks made by the first cryptocurrency in the Bitcoin market
The purpose of its creation, as in all coin forks, is to make improvements to the original blockchain to start a new currency that can provide solutions to the problems that the base currency presents.
The advantage that Bitcoin Cash offers is that its transactions are faster and scalable due to the fact that the block size (32MB) of its chain is higher compared to other blockchains on the market, including its base currency Bitcoin (2MB).
Thanks to its larger block, Bitcoin Cash can expedite the validation of trade operations faster regardless of the number of miners supporting them.
How does Bitcoin Cash work?
* Your cryptocurrencies are stored through the use of wallets.
* Bitcoin Cash (BCH) coins can be obtained by mining or buying at popular exchange houses such as: Allcoin, Bittrex, Kraken, Bitfinex, Okcoin, HitBTC, Livecoin, and Bithumb.
* It is a digital currency with risk of volatility due to its nature; since its price is totally fluctuating in the market.
* Thanks to the increase in the size of the Bitcoin Cash block; This platform carries out transactions faster and at low cost; since the size of the block allows increasing the volume of operations per minute, without the need for users to pay high commissions so that their operations are verified quickly.
* The Bitcoin Cash mining process is similar to the mining of its base currency (BT) with the difference that it is done more quickly
Pros
- BCH allows you to send money at relatively low rates.
- It is an easy-to-use platform.
- Their transactions are fast and smooth.
- It is a platform with a high profile security profile inherited from its original blockchain.
Cons
- It is a volatile risk currency, since its price is unstable and unpredictable in the market.
- The sustained increase in the size of the BCH block could be considered an attack on the decentralization process of cryptocurrencies; as the network would be left without the capacity to store an ever-larger blockchain.
