Review on Bitcoin Cash by Özgün A
BTCCASH is good ?
As the number of users transacting on Bitcoin increased, the blockchain began to be insufficient, and therefore a new crypto currency called Bitcoin Cash was created in 2017, separate from Bitcoin. Bitcoin Cash is shown as BCH for short on cryptocurrency exchanges. Blocks in the Bitcoin system can process at a capacity of 1MB, while blocks in the Bitcoin Cash system can transact at a capacity of 8MB. Bitcoin in general is a great invention, except of course its big problem that goes unnoticed… The Bitcoin network can only handle 7 transactions per second, so it's very slow. For comparison, Visa can process 24,000 transactions per second. Making bitcoin trading this slow has become a problem for the community to solve. When the calendars showed 2017, it was clear that there was a lot of work to tackle and some reforms had to be done to increase Bitcoin's scalability.
Updated 3 years ago
Rating has not been changed
After the preference of Bitcoin, money transfers slowed to a standstill. This situation caused users to be victims. In fact, some bitcoin transfers did not happen and users lost their money as a result. This is the most important reason why Bitcoin Cash came out.
Some users who lost their money due to the intensity of the Bitcoin network were identified with Bitcoin Cash in their accounts. Actually, this was unfair. Bitcoin and Bitcoin Cash are of course not the same! Bitcoin speed transactions at 1Mb speed are now increased to 8Mb. This speed made transactions happen faster.
Bitcoin Cash can be mined. Comparing transaction times: Bitcoin Cash is faster than Bitcoin. Because Bitcoin Cash's blockchains are larger than Bitcoin. But everyone knows this wrong. So people think Bitcoin is faster but that's wrong! Also, Bitcoin's transaction fees are higher than Bitcoin Cash. Bitcoin Cash is more secure than other cryptocurrencies. Despite the short time, Bitcoin Cash has managed to become one of the most valuable crypto currencies.
As a result: We can say that Bitcoin Cash was issued to fix network problems in Bitcoin. But if you ask if there is a solution, I guess not.
Pros
- fast transactions
- Easy interface
- nice options
- reliable
Cons
- very variable
