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Difference Between Bitcoin and Bitcoin Cash

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INDIA

Dec, 18 2020

Dec, 18 2020

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Post the invention of Bitcoin there have been many signs that were noted. However, there were some enthusiasts who are still excited to know more about this upcoming currency which actually has become the talk of the town. However, soon people also realized the potentiality of the same. There are so many members who have been holding Bitcoin and paying with it has also turned out to be a good growth for them on a large scale.


It surely is the best thing considering the investment point of view. But the transactions of the bitcoin are going quite slow say around 7 transactions every second. If you compare it with a visa, well, it has the ability to perform more than 20ooo per second. In the year 2017, it was straightway clear that there are so many transactions that are handled while some of them are reformed which are needed to let Bitcoin get a better scaling done.


The reasons behind the volume of the transaction not increasing:

Well, this question is still into debate many once there was a limit to Bitcoin which was set which in today’s time 2 MB is. But in simple terms, if you need an explanation, there is a heavy traffic metaphor being used. Suppose, you have quite a common heavy load traffic and you deduce to change the limit of the speed to nearly 200 miles every hour. Then what shall happen? Well, the safety concern is the major problem since the chances of the speed to crash and create more increase is high. Besides, there is also a potential problem for small vehicles of not being eligible for the highway since they have a speed limit. That is why the highway is only meant for big people.


This is quite likely to happen while increasing the limit. There is some block with more data for processing every transaction. There are small notes which will not be able to process for every transaction. Besides, the small notes may not be able to process this high pace data.


Bitcoin Cash over Bitcoin

If there are still more transaction issues, well then the Bitcoin community has divided it into two categorized. One group is about Bitcoin which they claim to be never an easy payment option while there is also another one that claims it to be the scaling. Since neither of the group was ready on giving up, Bitcoin was split with the process known as a hard fork that was made to be a new version of Bitcoin called Bitcoin Cash. The same codebase is used for it with the block size limit of around 8MB. This increased limit ensures that more than two million transactions processed per day.


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