Review on Bitcoin Cash by Toprak Dere

Name: Bitcoin Cash
Item: Bitcoin Cash
Rating: 5

October 26, 2020

About Bitcoin Cash

Bitcoin Cash emerged as a result of disputes in the Bitcoin community. Bitcoin Cash, created in 2017, draws attention as a coin that has been separated from Bitcoin as a result of the fork. By 2018, there was a hard fork in Bitcoin Cash. After this event, Bitcoin Cash split into two.
Bitcoin Cash also works with Proof-of-Work proof. As a result of Bitcoin Cash increasing the block capacity, which is being traded separately from Bitcoin, to 8 MB, BCash has a fast confirmation system.
The large block capacity of Bitcoin Cash compared to Bitcoin both increases transaction speed and decreases transaction fees.
It is possible to say that Bitcoin Cash is almost centralized. More than half of the operations are carried out through approximately 3 mining pools. There are many pools in Bitcoin. Due to the large number of these pools, there is no centralization in Bitcoin.

Due to the technology of Bitcoin Cash, it is possible to increase the block capacity at any time. Bitcoin Cash also has a different transaction signing system than Bitcoin. Bitcoin Cash has managed to become a good alternative to Bitcoin's speed problem with a technology that solves the scaling problem. Bitcoin Cash also has an algorithm that provides price stability.
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Updated 4 years ago

Rating changed from 4 to 5

Bitcoin Cash, the hard fork of the leading crypto currency Bitcoin (BTC), will perform a hard fork on the network today, on November 15, 2020. It seems that it has become a tradition for BCH, which normally enters the crypto money market as a Bitcoin hard fork, but then experiences hard forks in itself, almost every year.

The reason for the change and the split in the network this time is known as the different views of the two important communities in the network. The reason that the sixth largest cryptocurrency by total market capitalization goes to the hard fork is the tax to be imposed on miners. While the plan to impose an 8% tax on miners does not suit some developers and community members, those who propose this idea plan to create a separate network with hard fork.
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Pros