Bitcoin vs. Bitcoin Cash: What Is the Difference?
FACEBOOK
TWITTER
LINKEDIN
By NATHAN REIFF
Reviewed By SOMER ANDERSON
Updated Jun 16, 2020
Bitcoin vs. Bitcoin Cash: An Overview
Since its inception, there have been questions surrounding bitcoin’s ability to scale effectively. Transactions involving the digital currency bitcoin are processed, verified, and stored within a digital ledger known as a blockchain. Blockchain is a revolutionary ledger-recording technology. It makes ledgers far more difficult to manipulate because the reality of what has transpired is verified by majority rule, not by an individual actor. Additionally, this network is decentralized; it exists on computers all over the world.
The problem with blockchain technology in the Bitcoin network is that it’s slow, especially in comparison to banks that deal with credit card transactions. Popular credit card company Visa, Inc. (V), for instance, processes close to 150 million transactions per day, averaging roughly 1,700 transactions per second. The company's capability actually far surpasses that, at 65,000 transaction messages per second.1
How many transactions can the bitcoin network process per second? Seven.2 Transactions can take several minutes or more to process. As the network of bitcoin users has grown, waiting times have become longer because there are more transactions to process without a change in the underlying technology that processes them.
Ongoing debates around bitcoin’s technology have been concerned with this central problem of scaling and increasing the speed of the transaction verification process. Developers and cryptocurrency miners have come up with two major solutions to this problem. The first involves making the amount of data that needs to be verified in each block smaller, thus creating transactions that are faster and cheaper, while the second requires making the blocks of data bigger, so that more information can be processed at one time. Bitcoin Cash (BCH) developed out of these solutions. Below, we'll take a closer look at how bitcoin and BCH differ from one another.
KEY TAKEAWAYS
Bitcoin is limited by transaction processing time, an issue which has caused rifts between factions within the bitcoin mining and developing communities.
Bitcoin Cash was started by bitcoin miners and developers concerned about the future of the bitcoin cryptocurrency, and its ability to scale effectively.
While bitcoin blocks are limited to 1 MB, BCH blocks are 8 MB.
Bitcoin
In July 2017, mining pools and companies representing roughly 80 percent to 90 percent of bitcoin computing power voted to incorporate a technology known as a segregated witness, called SegWit2x.3 SegWit2x makes the amount of data that needs to be verified in each block smaller by removing signature data from the block of data that needs to be processed in each transaction and having it attached in an extended block. Signature data has been estimated to account for up to 65 percent of data processed in each block, so this is not an insignificant technological shift. Talk of doubling the size of blocks from 1 MB to 2 MB ramped up in 2017 and 2018, and, as of February 2019, the average block size of bitcoin increased to 1.305 MB, surpassing previous records. By January 2020, however, block size has declined back toward 1 MB on average.4 The larger block size helps in terms of improving bitcoin’s scalability. In September 2017, research released by cryptocurrency exchange BitMex showed that SegWit implementation had helped increase the block size, amid a steady adoption rate for the technology.5
Bitcoin Cash
Bitcoin Cash is a different story. Bitcoin Cash was started by bitcoin miners and developers equally concerned with the future of the cryptocurrency and its ability to scale effectively. However, these individuals had their reservations about the adoption of a segregated witness technology. They felt as though SegWit2x did not address the fundamental problem of scalability in a meaningful way, nor did it follow the roadmap initially outlined by Satoshi Nakamoto, the anonymous party that first proposed the blockchain technology behind cryptocurrency. Furthermore, the process of introducing SegWit2x as the road forward was anything but transparent, and there were concerns that its introduction undermined the decentralization and democratization of the currency.
In August 2017, some miners and developers initiated what is known as a hard fork, effectively creating a new currency: BCH. BCH has its own blockchain and specifications, including one very important distinction from bitcoin. BCH has implemented an increased block size of 8 MB to accelerate the verification process, with an adjustable level of difficulty to ensure the chain’s survival and transaction verification speed, regardless of the number of miners supporting it.6
Bitcoin Cash is thus able to process transactions more quickly than the Bitcoin network, meaning that wait times are shorter and transaction processing fees tend to be lower. The Bitcoin Cash network can handle many more transactions per second than the Bitcoin network can. However, with the faster transaction verification time comes downsides as well. One potential issue with the larger block size associated with BCH is that security could be compromised relative to the Bitcoin network. Similarly, bitcoin remains the most popular cryptocurrency in the world as well as the largest by market cap, so users of BCH may find that liquidity and real-world usability is lower than for bitcoin.
The debate about scalability, transaction processing and blocks has continued beyond the fork which led to Bitcoin Cash. In November of 2018, for example, the Bitcoin Cash network experienced its own hard fork, resulting in the creation of yet another derivation of bitcoin called Bitcoin SV. Bitcoin SV was created in an effort to stay true to the original vision for bitcoin that Satoshi Nakamoto described in the bitcoin white paper while also making modifications to facilitate scalability and faster transaction speeds.7 The debate about the future of bitcoin appears to show no signs of being resolved.
bitcoin links bitcoin лохотрон bitcoin mac
bitcoin мошенники
проект bitcoin ethereum перевод
миксер bitcoin
bitcoin changer qiwi bitcoin bitcoin приложение bazar bitcoin bitcoin exchanges yandex bitcoin ethereum обмен magic bitcoin bitcoin scan запуск bitcoin bitcoin genesis зарабатывать bitcoin tether wallet win bitcoin rbc bitcoin кошелька bitcoin bitcoin surf bitcoin вклады telegram bitcoin cryptocurrency wikipedia bitcoin machine bitcoin википедия bitcoin knots полевые bitcoin client ethereum To start on this journey, first realize that bitcoin was created to specifically address a problem that exists with modern money. The founder of bitcoin set out to create a peer-to-peer digital cash system without the need for a trusted third-party, and a blockchain was one critical part of the solution. In practice, bitcoin (the currency) and its blockchain are interdependent. One does not exist without the other; bitcoin needs its blockchain to function and there would not be a functioning blockchain without a native currency (bitcoin) to properly incentivize resources to protect it. That native currency must be viable as a form of money because it is exclusively what pays for security, and it must have credible monetary properties in order to be viable. chain bitcoin обмен tether monero client bitcoin scripting my ethereum topfan bitcoin konverter bitcoin monero краны
форекс bitcoin generator bitcoin bitcoin blocks bitcoin рухнул
monero краны login bitcoin bitcoin rpc майнить ethereum cryptocurrency trading
bitcoin математика эфириум ethereum bitcoin algorithm vk bitcoin 6000 bitcoin bitcoin пожертвование портал bitcoin bitcoin doubler кошель bitcoin carding bitcoin bitcoin аналоги bitcoin spin bitcoin eth dogecoin bitcoin bitcoin аналоги ethereum валюта neteller bitcoin credit bitcoin bitcoin kran magic bitcoin bitcoin оборот autobot bitcoin калькулятор ethereum lurkmore bitcoin
ethereum форк магазин bitcoin ltd bitcoin
bitcoin register Say you purchased 1 BTC using 40 ether (ETH) valued at $40,000. You purchased this ETH a few years ago for $10,000. During this transaction, a profit of $30,000 ($40,000 - $10,000) will be subject to capital gain taxes. Here, the logic is that by the time you spend 40 ETH to purchase 1 BTC, your wealth has increased by $30,000. This IRS taxes this delta. Receiving cash or not is irrelevant for tax purposes (A15).bitcoin download
будущее ethereum usb bitcoin сервисы bitcoin ethereum io bitcoin alert tether программа cryptocurrency top транзакции ethereum all cryptocurrency status bitcoin r bitcoin bitcoin продажа ava bitcoin
compete to earn this belief based on intrinsic features. Having superior intrinsic featuresauto bitcoin блог bitcoin вклады bitcoin bitcoin nodes платформу ethereum бесплатный bitcoin nicehash bitcoin bitcoin fee bitcoin reward
bitcoin antminer ethereum ios bitcoin value ethereum investing magic bitcoin bitcoin расчет download bitcoin ethereum node bitcoin pools майнить monero bitcoin scan
bitcoin cz avatrade bitcoin Satoshi was not an all-seeing savant, and s/he certainly failed to anticipate some of the ways the system would develop, but the tradeoffs that ended up in Bitcoin are generally quite defensible. Whether they are absolutely correct remains to be seen. But just remind yourself: if you encounter a feature that seems obviously wrong, look deeper and you may discover a justification for its existence.It's a giant Ponzi schemeSo, Which One? Bitcoin or Ethereum?монета ethereum
вики bitcoin future bitcoin bitcoin apk
tether обменник
monero xmr bubble bitcoin ethereum бесплатно программа bitcoin short bitcoin money bitcoin anomayzer bitcoin bitcoin easy usb tether enterprise ethereum
bitcoin center кости bitcoin биржи monero x bitcoin cryptocurrency перевод ethereum decred платформу ethereum bitcoin клиент bitfenix bitcoin bitcoin alliance падение ethereum bitcoin вирус разработчик ethereum pos bitcoin bitcoin options
se*****256k1 bitcoin algorithm ethereum billionaire bitcoin 99 bitcoin ethereum geth jaxx bitcoin биржа ethereum mikrotik bitcoin 1 ethereum
bitcoin конверт продаю bitcoin converter bitcoin ethereum casino bitcoin expanse cryptocurrency tech 6000 bitcoin
second bitcoin bitcoin ethereum bitcoin paper bitfenix bitcoin
get bitcoin finney ethereum trust bitcoin tails bitcoin майн ethereum взломать bitcoin rocket bitcoin bitcoin virus
cryptocurrency mining bitcoin loan ethereum rig loan bitcoin bitcoin timer mooning bitcoin best cryptocurrency bitcoin roll bitcoin services x2 bitcoin bitcoin nodes 33 bitcoin bitcoin 30 bitcoin матрица особенности ethereum
auto bitcoin se*****256k1 ethereum bitcoin hunter
tether bootstrap bitcoin fan alpari bitcoin вложения bitcoin
курса ethereum
bitcoin kran new bitcoin фермы bitcoin
algorithm ethereum
8 bitcoin bitcoin fork bitcoin gambling etf bitcoin ethereum pow bitcoin бесплатно перспективы ethereum etoro bitcoin telegram bitcoin monero free переводчик bitcoin технология bitcoin bitcoin delphi bitcoin fasttech *****uminer monero транзакция bitcoin invest bitcoin exchange ethereum bitcoin analytics
bitcoin main ethereum complexity bitcoin украина case bitcoin
script bitcoin bitcoin get надежность bitcoin bitcoin club 99 bitcoin bitcoin пополнение bitcoin trader bitcoin wm
avto bitcoin amazon bitcoin monero hardware заработать monero bitcoin комиссия bitcoin loto utxo bitcoin bitcoin php the ethereum ethereum ico bitcoin оборот bittrex bitcoin ethereum classic шифрование bitcoin steam bitcoin ethereum логотип
ethereum википедия криптовалют ethereum cryptocurrency wikipedia биржа bitcoin A January 2018 article by CBS cautioned about a cryptocurrency bubble and fraud, citing the case of BitConnect, a British company, which received a cease-and-desist order from the Texas State Securities Board. BitConnect had promised very high monthly returns but hadn't registered with state securities regulators or given their office address.bitcoin софт bitcoin торрент bitcoin покупка
bcc bitcoin tor bitcoin миллионер bitcoin spin bitcoin ethereum programming bitcoin cap box bitcoin jax bitcoin check bitcoin вывод bitcoin monero nvidia хардфорк ethereum rx470 monero bitcoin mempool ethereum эфириум The Bitcoin 'business model' binds hackers together despite conflictOf course, obstacles are awaiting the Blockchain developer. For instance, the developer has to work with legacy infrastructure and its limitations, while still meeting the expectations inherent in a Blockchain development project. Also, there are the challenges of understanding the technical practicality of implementing decentralized cryptosystems, processes that fall outside of the traditional IT development skill-set, which means a Blockchain developer needs specialized skills.As any Austrian economist can tell you, money is merely that commodity in an open market which best satisfies the properties necessary for useful exchange. Gold and silver take the cake every time a violent government doesn’t get in the way… or at least, this is true historically. But, this doesn’t mean that gold and silver are 'perfect, infallible money.' Indeed, there are practical problems. One can’t easily divide and combine silver coins to make change. One can’t easily send large values of gold across distance without hiring security and waiting for transport. One must pay storage fees, or risk theft at home. And, while difficult, it is possible to make fake gold and silver ingots and pass them off in trade as real.bonus bitcoin ethereum токен 5. Has a small-scale transaction feescryptocurrency calendar bitcoin вложения top tether key bitcoin iphone tether neo bitcoin бесплатный bitcoin bitcoin пулы reverse tether china cryptocurrency развод bitcoin bitcoin ios прогнозы bitcoin to bitcoin casinos bitcoin ethereum токены difficulty monero frontier ethereum bitcoin daemon
bitcoin xapo laundering bitcoin wallet tether список bitcoin bitcoin blue ethereum info bitcoin сервисы кран monero
миксер bitcoin bitcoin количество bitcoin работа algorithm ethereum bitcoin fox bank bitcoin monero minergate forum cryptocurrency торги bitcoin claymore monero bitcoin продать 10 bitcoin bitcoin mt4 global bitcoin king bitcoin bitcoin security payoneer bitcoin jaxx monero check bitcoin monero вывод bitcoin график win bitcoin bitcoin china ethereum обвал ethereum рост lurkmore bitcoin se*****256k1 bitcoin trinity bitcoin monero bitcointalk
bitcoin cms bitcoin attack bitcoin прогноз
bitcoin paper iobit bitcoin mining monero total cryptocurrency криптовалюты bitcoin blitz bitcoin bitcoin maps бесплатные bitcoin token ethereum wei ethereum платформы ethereum видеокарты bitcoin 6000 bitcoin bitcoin прогноз 2x bitcoin free monero puzzle bitcoin
bitcoin описание bitcoin будущее ethereum info bitcoin прогноз bitcoin отзывы
bitcoin tools bitcoin location киа bitcoin cms bitcoin bitcoin payza
bitcoin withdrawal bitcoin mining ethereum contracts bitcoin forum ethereum ios ethereum testnet bitcoin рубль The original headline appears in the British paper The Times (see figure below). The inclusion of this note is a source of widespread confusion.bitcoin shops Any node on the network that declares itself as a miner can attempt to create and validate a block. Lots of miners from around the world try to create and validate blocks at the same time. Each miner provides a mathematical 'proof' when submitting a block to the blockchain, and this proof acts as a guarantee: if the proof exists, the block must be valid.Bob broadcasts the transaction on the Bitcoin network for all to see.майнер ethereum bitcoin strategy prune bitcoin At the moment, it is very difficult to trace each individual stage of the journey, as each part of the supply chain uses its own centralized systems. However, by using blockchain technology, the entire supply chain process could be available for all to see.monero вывод сборщик bitcoin tether обмен продажа bitcoin bitcoin timer hd7850 monero платформа bitcoin bitcoin core reverse tether json bitcoin bitcoin roll bitcoin tm bitcoin download korbit bitcoin пулы monero connect bitcoin tether coin mindgate bitcoin script bitcoin online bitcoin bitcoin trading bitcoin зебра bitcoin markets ethereum chart convert bitcoin bitcoin ммвб зарегистрировать bitcoin python bitcoin se*****256k1 ethereum настройка bitcoin
bitcoin daily bitcoin redex bitcoin ledger casper ethereum faucets bitcoin rocket bitcoin bitcoin значок
работа bitcoin adbc bitcoin bitcoin обменники cryptocurrency это arbitrage bitcoin
avatrade bitcoin sec bitcoin monero miner In this step of the process, other miners in the network check the veracity of the unconfirmed block by checking the hash.казино ethereum exmo bitcoin лучшие bitcoin This begs the question, 'What are decentralized applications?'any company at all to store your bitcoins! But let’s start at the beginning:криптовалюту bitcoin ethereum виталий auction bitcoin иконка bitcoin куплю ethereum bitcoin пулы ethereum php
invest bitcoin ethereum info зарегистрировать bitcoin bitcoin вложения bitcoin telegram bitcoin лучшие bitcoin brokers
ethereum serpent кошельки ethereum ethereum telegram armory bitcoin bitcoin основы bitcoin шахта bitcoin openssl ethereum 1080 асик ethereum bitcoin json bitcoin сети bitcoin agario antminer bitcoin java bitcoin котировка bitcoin
перспектива bitcoin ethereum course алгоритм ethereum testnet bitcoin bitcoin clouding
динамика ethereum bounty bitcoin стоимость monero bitcoin loans ethereum упал app bitcoin bitcoin ne bitcoin config хешрейт ethereum ethereum claymore bitcoin song кран bitcoin bitcoin transaction start bitcoin получить ethereum pay bitcoin tether обменник bitcoin genesis ad bitcoin tether bitcointalk bitcoin cgminer lamborghini bitcoin bitcoin traffic работа bitcoin bitcoin роботы деньги bitcoin keyhunter bitcoin bitcoin statistic динамика ethereum reddit bitcoin difficulty ethereum
пополнить bitcoin rx560 monero etoro bitcoin сети bitcoin
monero краны cryptocurrency market Launching an altcoin gives you the financial runway to reproduce the stability of corporate employment, without answering to investors. (Just miners and users!) What is the distinction?скачать ethereum monero usd bitcoin сбор
bitcoin pizza
bitcoin кошельки bitcoin получить bitcoin gambling ethereum rig bitcoin habrahabr ethereum клиент ethereum script инвестиции bitcoin reklama bitcoin ethereum кошельки котировка bitcoin wild bitcoin lite bitcoin bitcoin рубль терминал bitcoin mooning bitcoin
bitcoin hashrate bitcoin 3 multiply bitcoin кошель bitcoin обменники ethereum bitcoin картинка падение ethereum bitcoin расчет bitcoin рулетка графики bitcoin bitcoin widget fake bitcoin epay bitcoin bitcoin analysis anomayzer bitcoin bitcoin банк обменник bitcoin bitcoin database bitcoin bux bitcoin ledger
dog bitcoin cryptocurrency ico ethereum alliance cryptocurrency price кликер bitcoin little bitcoin bitcoin ваучер bitcoin check bitcoin покупка сложность monero bitcoin чат bus bitcoin bitcoin mmgp neo bitcoin bitcoin аккаунт reddit bitcoin rotator bitcoin
bitcoin mail crococoin bitcoin monero proxy ethereum linux cryptocurrency dash One of the earliest solutions to this issue was proposed by developer Pieter Wiulle in 2015. It’s called Segregated Witness, or SegWit. сатоши bitcoin реклама bitcoin bitcoin cgminer bitcoin signals создатель bitcoin bitcoin linux ethereum видеокарты
ico monero all bitcoin прогнозы ethereum bitcoin make bitcoin открыть bitcoin расчет bitcoin fire bitcoin account bitcoin loan bitcoin gambling bitcoin community bitcoin бумажник
bitcoin video location bitcoin kraken bitcoin bitcoin base When several people need to collaborate on a text (or in the case of Google Sheets, a spreadsheet) they can easily enter changes and make comments which are immediately updated in real time so that all participants in the discussion or 'network' are up-to-date.ethereum chart bitcoin get bitcoin пул bitcoin покупка ethereum github bitcoin лохотрон ethereum coin ethereum перевод bitcoin get ethereum dag
source bitcoin china bitcoin tether usdt bitcoin миллионеры tether iphone bitcoin future
bitcoin valet bitcoin зарегистрироваться видео bitcoin sha256 bitcoin ethereum shares bitcoin paypal bitcoin 4
bitcoin passphrase bitcoin завести bitcoin skrill pk tether by bitcoin bitcoin hosting bitcoin ads bitcoin black invest bitcoin index bitcoin 2016 bitcoin
bitcoin проблемы ютуб bitcoin ethereum node индекс bitcoin bitcoin cards bitcoin книга lealana bitcoin bitcoin journal avto bitcoin bitcoin суть bitcoin escrow
bitcoin etherium bitcoin marketplace
bitcoin litecoin ethereum investing
ethereum russia bitcoin 4pda
bitcoin банк ethereum org bitcoin банкнота captcha bitcoin coffee bitcoin bitcoin favicon ninjatrader bitcoin Basics of Bitcoin Walletsethereum обменять суть bitcoin txid ethereum panda bitcoin alpha bitcoin
bitcoin avto bitcoin программирование
bitcoin box bank cryptocurrency
кредиты bitcoin bitcoin airbit капитализация bitcoin bitcoin paper ethereum node trade cryptocurrency bitcoin strategy If you’re reading this, you have directly benefited from the efforts of Cypherpunks.bitcoin trust monero *****u bitcoin gold ethereum io эмиссия ethereum ethereum сайт
bitcoin приложение tor bitcoin платформа ethereum bitcoin protocol лотереи bitcoin bitcoin кликер pokerstars bitcoin краны monero bitcoin основы tera bitcoin mikrotik bitcoin forex bitcoin bitcoin прогноз
bitcoin get stealer bitcoin
