Home Altcoins News BCH Community Members Comparing the BTC and BCH Sha256 Chains

BCH Community Members Comparing the BTC and BCH Sha256 Chains

BTC and BCH Sha256 Chains

BCH is all about decentralization, people from all over the world can use it to pay for goods and services without the need to ask for permission from anyone and they can get it done for extremely lower fees to move their funds. BCH advocates feel it is the digital cash for the world and the best form of internet money.

Someone from the BCH user community who tried to make a fair point stated, Smart people understand what BitcoinCash offers: True Peer to Peer Electronic Cash for Every Single Human Being, not just for the privileged ones.

They say Bitcoin cash has evolved to a great extent in 2021. However, not all opinions are positive.  The lack of hash power and security is what people don’t like about BCH. Of note, Hash Rate is a reflection of price ratio between BCH and BTC. Miners can switch between chains automatically due to profitability. It can change quickly.

When someone stated, Bitcoin Cash is a desert train station – a BCH fan replied stating Bitcoin Cash is actually doing actually more transactions per day than Bitcoin. Bitcoin has more people waiting but they just can’t get on the train.

While both BTC and BCH are sha256 chains. BCH has decentralized mining and development which is very unique.

Both of them have proof of work consensus.

Bitcoin versus Bitcoin Cash the comparison is thus:   The blocks are 1 MB every ~10 minutes V. 32 MB every ~ 10 minutes.  The transaction limit is ~7 per sec V. ~120 per sec.  The transaction reliability in terms of double spending is easy to do because the blocks are full and the transactions stay in the mempool for long and there is a replace by fee (RBF) feature permitting to prioritize subsequent transaction if the fee is higher V. the blocks have room, and transactions get cleared from the mempool fast, RBF is removed meaning it is faster and more reliable transactions for daily payments. 

The development team is Bitcoin Core V. the development team being BCHN, BU, BCHD, Flowee, Verde and Knuth. The Roadmap is to keep the blocks at 1mb size. Move transactions from BTC blockchain to Lightning Network (2nd Layer) V. Use innovation in hardware and software to scale on the chain. Upgrade to 256mb blocks, implement block ~ 90% compression, launch double-spend proofs, support multi-thread CPUs.  Possibility to use (2nd layer for niche use cases).

One of the BCH community members stated, we could use a technology which gets faster and more energy efficient with more transactions instead of the opposite, but on how people can’t generate money with that and why nobody cares.

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James

James T, a passionate crypto journalist from South Africa, explores Litecoin, Dash, & Bitcoin intricacies. Loves sharing insights. Enjoy his work? Donate to support! Dash: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

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