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    Tuesday, June 18, 2024

      What Is the Difference Between Bitcoin and Bitcoin Cash

      Bitcoin and Bitcoin Cash are two different cryptocurrencies which function independently and have technological and also technical differences but you might not know from the names or even their token symbols of BTC and BCH.

      The Bitcoin is the oldest cryptocurrency and the largest by market capitalisation was launch in 2009.

      Bitcoin Cash was fork from Bitcoin in 2017 and has grown and develop into an asset in its own right.

      Satoshi Nakamoto the persons behind Bitcoin authored its white paper but the vision was to have a peer-to-peer version of electronic cash that allows online payments that one party could send to another without going through a financial institution.

      After twelve years the vision has transform into what is a behemoth of a digital token now defining the cryptocurrency market. 

      Bitcoin price in India set at Rs. 35.15 lakhs as of 2pm IST on 18th August 2021.

      There was one issue about the pace at which these transactions are process.

      The reason is that the Bitcoin transactions are first process follow by verification which is then record in a digital ledger known as blockchain.

      As soon as many people join Bitcoin expanding its network then it’s getting slower as well.

      With time as Bitcoin grew in size then after it became an instrument of investment instead of its original purpose of being a currency.

      And that’s why what the industry experts call a “fork” in August 2017.

      Bitcoin Cash besides sharing many attributes with Bitcoin and also integrated various changes, making it different and also closer to the vision document originally authored in 2008.

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      The most important distinction between the two is that these despite being similar sounding are two completely different currencies.

      How is Bitcoin Cash Different from Bitcoin?

      The first question in the mind will be the value of each as an investment.

      Bitcoin price in India is over Rs. 35 lakh, while Bitcoin Cash price in India was over Rs. 50,000.

      As an investor the price of the tokens is not as important as whether or not they appreciate in value, so that’s not the only thing you need to know.

      The first and the foremost is that Bitcoin Cash as compare to Bitcoin has a lower transaction cost and transfers data quickly.

      Bitcoin Cash can be use by more people at the same time.

      It’s important to note that Bitcoin Cash at least for now it doesn’t enjoy as much consumer trust as Bitcoin.

      The maximum block size of Bitcoin Cash is 32MB compare to Bitcoin’s 1MB.

      This makes it more scalable and also able to carry out more transactions per second, reducing its environmental impact, and increasing its viability as a currency in theory.

      Bitcoin Cash claims that it has the capacity to process as many as 200 transactions per second also reducing the cost of transactions.


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