It is safe to say that Bitcoin is the most popular and most valuable cryptocurrency there is right now in the crypto world. There are hundreds of other contenders, but none of them is close to Bitcoin when it comes to popularity.
Even those people who don’t know about cryptocurrency know or at least heard of Bitcoin. However, Bitcoin Cash (BCH) is the closest alternative to Bitcoin in the crypto world. Many experts would disagree on this, but facts don’t lie. There are many other contenders whose values are higher than BCH, but when it comes to direct competition to Bitcoin, BCH leads the charge.
How was BCH created?
Bitcoin Cash was created by Roger Ver along with a group of crypto experts back in 2017. It has a controversial and exciting history.
The BCH story revolves around ‘blocksize’ which essentially is the number of transactions in a block. For a smaller block, the number of blockchain transactions is fewer.
According to the media reports, Roger Ver suggested that there should be an expansion in Bitcoin’s blocksize – apparently giving practical reasons. But the developers of Bitcoin avoided going against the popular Satoshi model. Due to this, Roger went ahead and created his own cryptocurrency names Bitcoin Cash (BCH).
Roger Ver and his Bitcoin.com are strong supporters of Bitcoin Cash being the ‘right’ or ‘true’ Bitcoin.
Which one is faster?
Bitcoin Cash has an increased size of the blocks than Bitcoin. This makes the scaling process far easier than the latter. As of now, BCH can take care of 61 transactions per second which are 12 times more than what Bitcoin does. Because of the increase in the size of the block, BCH charges less money per transaction than its predecessor.
Because Bitcoin Cash is faster and cheaper than Bitcoin, it directly benefits the end-users. It makes the transaction instantly and costs less to the users involved.
However, BCH doesn’t enjoy the same level of recognition as Bitcoin has. This trend will inevitably change is something Bitcoin Cash supporters are waiting for.
So far Bitcoin Cash have been in the spotlight for other things than its technical capabilities. We are thinking about the discussions between Bitcoin Cash vs Bitcoin originally. But later on also the Bitcoin Cash vs Bitcoin SV drama.
But for the supporters of BCH they are hoping that Bitcoin Cash will be able to move past the drama. And show the world it is a cryptocurrency to depend on (learn more about BCH here).
Bitcoin Cash and Bitcoin SV
As we mentioned just recently there has been a focus on something else than BCH capabilities as a cryptocurrency. But more the recent dramas between Bitcoin Cash and Bitcoin SV.
Bitcoin Cash came into existence back in August 2017. When the discussions between Bitcoin supporters couldn’t be agreed to whether the block size should have been increased or not.
But earlier this year, a guy named Craig Wright (fake Satoshi Nakamoto) created a Bitcoin Cash fork called Bitcoin SV. This was a massive controversy in the blockchain world.
A war broke down between two powerful groups of BCH and BSV. It’s because of the support of certain powerful Chinese miners, BCH won that battle. And perhaps can been seen as a winner.
But moving forward BCH has much to prove. Compared to Bitcoin which itself as the original and only true Bitcoin has already proved itself. Perhaps not to the central banks of the world. But to the crypto community and the more open-minded groups of the world.
No one can predict where Bitcoin or Bitcoin Cash will move on towards. But for now, both Bitcoin and Bitcoin Cash are around. Breathing and still fighting. Hopefully less with each other and more to prove their own value.
These things prove that Bitcoin Cash is here to stay, and the network will only grow in the years to come. It will still take a lot of work and time to be on the same level as Bitcoin. If it can ever reach similar levels.
There are questions asked, do we need two Bitcoins? Do we need them, and other similar cryptos like Litecoin, Dash and others?
Who will be around for years to come?
When it comes to BCH vs BTC, both cryptocurrencies have their benefits and flaws. Only time can prove if BCH has it in itself to be the number one someday. As of now, we can say that it is one of the top 5 cryptocurrencies in the world.
Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that want to see better and smarter products and services that make our lives better and easier