If you’re comparing Bitcoin Cash versus Bitcoin, it’s easy to see how the two coins differ. Both have a similar goal: to make the world a freer place. Although Bitcoin’s price is still higher than BCH, investors remain uncertain about BCH’s future. BCH works on a scaleable difficulty system, which means that more people will have to mine bitcoins.
The original cryptocurrency Bitcoin was created, and has been in existence for more than 10 years. Bitcoin Cash has a lower hashrate than Bitcoin Cash. This means that Bitcoin Cash has greater computing power. Bitcoin Cash has a much lower hashrate than Bitcoin Cash, which indicates how many computing power miners use to protect the network. Bitcoin Cash hashrate total is just 2% less than Bitcoin’s.
Bitcoin Cash is a standalone digital currency created in August 2017. Bitcoin Cash operates using its own blockchain and follows its own rules. Bitcoin cash was created to solve the scaling issue that plagued the original bitcoin. The blockchain of Bitcoin cash has a greater blocksize than Bitcoin. It doesn’t support backward compatibility because it is a hard fork. You’ll have to choose between Bitcoin Cash to make a transaction.
One of the main differences between Bitcoin Cash and Bitcoin is transaction fees. BTC transactions are $0.0027 while Bitcoin Cash transactions can be made for around $20. Bitcoin Cash employs a second layer scaling solution, the Lightning Network. This sits on Bitcoin Cash’s main chain and utilizes payment channels to speed up transaction times. Many cryptocurrency exchanges have adopted this network, which has been growing in popularity recently. So, what is the best cryptocurrency for you? A good place to start is with the history of Bitcoin, and the current state of the cryptocurrency market.