1 Level
6 Review
2 Karma
Review on Bitcoin Cash by Oliwier Adler
Bitcoin Clone with blocksize increase
Bitcoin cash is a cryptocurrency which can be used to increase the block size. This will allow processing more transactions every second. The Bitcoin cash is a payment network and a cryptocurrency. In relation to the Bitcoin, the Bitcoin cash is generally classified as a strand, spin-off, a hard fork product, the second version of Bitcoin, a clone, an offshoot or even an altcoin.
The block size has increased from just 1 MB of the Bitcoin to 8 MB of the Bitcoin cash. It has also removed the Segregated Witness which is a proposed code for adjustment created to free up the block space through removal of some parts of the transaction.
The primary goal of the Bitcoin cash is to raise the number of transactions which can be processed every second. This will allow the Bitcoin cash to compete with the number of transactions which are handled by other major online transaction methods by raising the size of the block. The transaction fees will be lower on the Bitcoin cash. The Bitcoin cash does not, however, have much acceptance in the community and hence there is a little support from wallets and exchanges as compared to the Bitcoin. The Bitcoin enjoys higher support from the miners and it more secure and stable.
Pros
- The exchange of funds can be virtually carried out from anywhere and with anyone in the world. There will be no need for transferring the money through any bank account or any private merchant.
- Bitcoin cash is that the money can be sent and received immediately. There is also no waiting time unlike with the other methods of transactions.
Cons
- The price is prone to fluctuations but there is no saying how much it would fluctuate. The exact time of the fluctuation cannot be predicted as well. And thus the right time to invest cannot be predicted.
- Generally, the business owners are advised to stay away from the Bitcoin cash
