This means that anyone with Bitcoins in his possession at the time the fork occurred, got credited with the same amount of Bitcoin Cash. When a fork occurs on a Blockchain, the currency is basically duplicated. Also, they claim there’s no implementation of ideas such as Segwit to help effectively break transactions down into smaller, more manageable pieces.īitcoin Cash (BCH), Sometimes referred to as Bcash, is a fork of Bitcoin (BTC). Many see this as a step forward in terms of how best to scale the network.īitcoin Cash opposers remain adamant that it’s simply a short-term fix that doesn’t solve the problem in the long run. This change allows for more transactions to be processed in each block mined. As a result, at peak times, transactions have become slow and expensive.īitcoin cash, on the other hand, was initially created with an 8MB block, which was later on increased in size to 32MB. The limited Bitcoin block size of 1 MB means that blocks are filling up quickly, resulting in a long queue of unconfirmed transactions. This means that many more users are using the cryptocurrency, which is slowing down the network. Here’s what I’ll cover:īitcoin’s blockchain has grown exponentially in recent times. That’s it! If you want a deeper explanation of what Bitcoin Cash is, how to buy it and where to store it keep on reading.
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