Review on Bitcoin Cash by William Boaz

Name: Bitcoin Cash
Item: Bitcoin Cash
Rating: 4

June 17, 2019

Bitcoin Cash

Tired of the scalability issues and SegWit implementation, a part of the BTC’s community decided to fork out in another direction creating another chain in the blocks and a new altcoin – BCH. It is a peer-to-peer electronic cash system with an increased block size of 32MB and a block time of 10 minutes. 
﻿
Unlike Bitcoin, BCH adjusts its difficulty every 600seconds or every block instead of once every 2016 blocks. The supply limit is 21 million BCH and currently, a decision has not been made regarding any subunits. Bitcoin Cash stands out mostly with its implementation of smart contracts. 
﻿
One of the well-known figures in the BCH network is Amaury Séchet, who is the founder of Bitcoin ABC. He developed the software necessary to run a full node in the BCH network to keep it functioning. Currently, BCH is one of the best Bitcoin forks on the market. Another fork is expected in November 2018 in which the groundwork for smart contracts will be implemented as well as an increase of the block size to 128MB.
﻿
BCH relies on the blockchain open ledger technology to achieve fast transactions, security, immutability, and anonymity. The block size is currently 32MB and new blocks can be found roughly every 10 minutes. 
﻿
Miners still need to use the Proof of Work consensus method and hardware that’s compatible with the SHA-256 hashing algorithm.
﻿

Pros

Bitcoin Cash’s main aim was to rectify that through an increase of the block size. Currently, it is 32MB which allows for up to roughly 200 transactions per second depending on the traffic and amount of funds being transferred.
Customizable and network transactions fees is very low.
Emergency Difficulty Adjustment (EDA) & Secure and immutable blockchain

Cons

Bitcoin cash has experienced is being underrated. Because it’s a fork of the Bitcoin network and shares many aspects with it, users regarded it as a fake coin or a copycat. This is quite far away from the truth as this is a real coin that offers advantages that BTC cannot
Bitcoin cash has centralized development (BitcoinABC)
Blockchain size is on the big side (164GB+)