Main Difference Between Bitcoin and Bitcoin Cash
This article broadly explains the difference between bitcoin and bitcoin cash.
In recent times, the financial world have been taken over by one single word – Bitcoin. If you are in the crypto world, you also should have had of Bitcoin Cash.
Some people think both Bitcoin and Bitcoin Cash means the same thing just different in terminology and usage.
Please note that, Bitcoin and Bitcoin Cash are totally different cryptocurrency.
Cause of the split
Bitcoin started performing exceptionally wonderful in late 2017. With rise in price bitcoin above $14,000 in December 2017, its popularity was renewed.
But as news circled around the highs, just very few news write-ups ventured beyond the financial market when it came to an event known as the “hard fork.”
Indeed, this means a change in the protocol. It can also be regarded as an upgrade of sorts to Bitcoin. But it became clear that not everyone agreed on how the development of how bitcoin should go.
Most Miners wanted bigger blocks which would allow much more data in each mined block.
On the other hand, common users and developers really wanted something similar in that they were seeking for more data per block.
But by the implementation of Segregated Witness (SegWit), that would compress the data to fit the block size already in play.
As a result of that, Bitcoin forked, and so the Bitcoin Cash (BCH) was born as another new cryptocurrency.
Bitcoin Cash is refer to as the miner-supported chain, while the original bitcoin remains the users and developers favorite.
What are the difference?
Despite both cryptocurrencies being similar in nature (after all, they both are from the same cryptocurrency). It is important to understand the difference and be aware that they are totally separate from each other.
There are much differences between the both coin, which we will explain below.
Bitcoin happens to be the most popular and most used among every other cryptocurrency.
Additionally, Bitcoin is said to have much more security than its forked counterpart and better stability via a more widely developed infrastructure.
There is no doubt that lots of people are still leaning towards Bitcoin rather than the bitcoin cash (BCH).
Bitcoin is highly distributed, but at the same time, it is also much more slower than the Bitcoin Cash and often come with a much more higher transaction fees stamped on top.
Bitcoin Cash (BCH)
The Bitcoin Cash is the spited counterpart to Bitcoin. Therefore, it works in a very similar way like the “original bitcoin”.
The bitcoin cash is actually much more faster and it usually come with lower transaction fees.
However, bitcoin Cash is not as popular as the original bitcoin.
Due to Bitcoin success, Bitcoin Cash is usually goes overlooked, people also confuse it with the original Bitcoin.
However, it is necessary to know the difference. If you try to send Bitcoin Cash to a Bitcoin address, you are likely to lose the money.
Bitcoin and Bitcoin Cash are mainly similar in how they operate, but you must understand that they are different cryptocurrencies.
While the Bitcoin Cash has lower transaction fees and a much more faster speeds.
On the other hand, the original Bitcoin takes the cake as long as popularity and ability to spend are concerned.