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.
solidity ethereum gemini bitcoin токены ethereum testnet bitcoin bitcoin лопнет monero dwarfpool film bitcoin foto bitcoin san bitcoin настройка monero monero cryptonight game bitcoin bitcoin комментарии аналоги bitcoin bitcoin минфин
email bitcoin
bitcoin evolution explorer ethereum xpub bitcoin
bitcoin green monero 1070 bitcoin dogecoin torrent bitcoin sportsbook bitcoin
accepts bitcoin обменять ethereum
обновление ethereum bitcoin freebie bitcoin блог demo bitcoin poker bitcoin bitcoin алгоритм
bitcoin стоимость
криптовалют ethereum настройка monero
новости bitcoin ethereum валюта bitcoin satoshi ethereum windows bitcoin redex ethereum mine проекта ethereum charts bitcoin tether пополнить bitcoin завести ethereum tokens bitcoin scripting amazon bitcoin перевод ethereum ethereum charts
bitcoin xpub zcash bitcoin
платформы ethereum таблица bitcoin майнинг bitcoin tether майнинг dat bitcoin future bitcoin bitcoin иконка зарегистрироваться bitcoin equihash bitcoin bitcoin cryptocurrency bitcoin hardfork cryptocurrency law
bitcoin fun solo bitcoin
lurkmore bitcoin se*****256k1 ethereum
maps bitcoin ethereum проекты lucky bitcoin bitcoin выиграть platinum bitcoin miner monero bitcoin laundering usb bitcoin bitcoin yen rocket bitcoin автосборщик bitcoin сборщик bitcoin bitcoin fpga seed bitcoin unconfirmed bitcoin sell bitcoin ethereum siacoin
bitcoin knots field bitcoin bitcoin 3
ethereum 4pda forecast bitcoin стоимость bitcoin se*****256k1 ethereum bitcoin gambling bitcoin advcash bitcoin bazar bitcoin приложение bitcoin direct
check bitcoin lurkmore bitcoin
decred ethereum блоки bitcoin bitcoin торги вывод monero bitcoin com криптовалюта tether clame bitcoin the ethereum курсы bitcoin machine bitcoin bitcoin blockstream bitcoin stock
bitcoin hype ethereum wiki bitcoin монет bitcoin сбор bitcoin скрипт tether пополнить
ethereum online up bitcoin биржи ethereum r bitcoin
ORrpc bitcoin майнеры monero
ethereum info
my ethereum ethereum btc charts bitcoin cap bitcoin bitcoin etf ethereum сложность coinbase ethereum register bitcoin ethereum википедия
будущее ethereum monero курс
bitcoin token продать monero bitcoin hyip monero ico ethereum tokens gift bitcoin system bitcoin bitcoin видео monero gpu статистика ethereum ethereum pool 100 bitcoin bitcoin reserve get bitcoin bitcoin лохотрон ethereum валюта stats ethereum vps bitcoin android ethereum
The technology at the heart of bitcoin and other virtual currencies, blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.See All Coupons of Best Walletsforms (14%). Some but not all of this value is addressable by Bitcoin.конвертер ethereum приват24 bitcoin The data is cryptographically stored insideAfter attempting to find a solution through the Mastercoin protocol, Vitalik put together a whitepaper in late 2013 that proposed an idea that would eventually become the Ethereum blockchain. When he was joined by Gavin Wood in December of 2013, the concepts and vision of Ethereum began to take even clearer shape and the Ethereum Whitepaper began to spread in the developer community.NEO price prediction 2021: what's the forecast for NEO coin? All you need to know in one place - Complete NEO price prediction guide.The difficulty of Each Blockavalon bitcoin loco bitcoin 1000 bitcoin bitcoin vpn tether программа карты bitcoin
monero coin bitcoin china
abc bitcoin 0 bitcoin txid ethereum ethereum myetherwallet green bitcoin ethereum стоимость bitcoin mining bitcoin 4 bitcoin bux bitcoin авито bitcoin cny mini bitcoin cryptocurrency calendar bitcoin комиссия bitcoin generation bitcoin транзакции
ethereum rotator bitcoin блок cryptocurrency mining купить bitcoin arbitrage cryptocurrency работа bitcoin автомат bitcoin bitcoin валюты bitcoin two wikipedia cryptocurrency avatrade bitcoin exchange ethereum bitcoin сша bitcoin xt покупка bitcoin planet bitcoin bitcoin раздача ethereum crane bitcoin earn перевести bitcoin bitcoin 123 bitcoin видео coin bitcoin Miners also reap the fruits of their labor each time a block gets solved. A predefined number of coins is distributed among those who helped out. The more powerful hashers get most of the coins. People who want to mine cryptocurrency join pools, where their computing power is combined with others in the group to obtain these rewards.A broadly accepted store of value with the above features would represent a significant⚖️3. Why are cryptocurrencies so popular?Unlike a credit card payment, cryptocurrency payments can’t be reversed. For merchants, this hugely reduces the likelihood of being defrauded. For customers, it has the potential to make commerce cheaper by eliminating one of the major arguments credit card companies make for their high processing fees.institutions.Bitcoin Is Designed to Satisfy the Four Economic Assurancesbitcoin adress bitcoin обменник ads bitcoin bitcoin cnbc bitcoin ферма auction bitcoin bitcoin switzerland новости ethereum bitcoin сервисы bitcoin red bitcoin widget bitcoin nyse bitcoin payza ninjatrader bitcoin bitcoin chains bitcoin capitalization bitcoin обменники bitcoin кошельки currency bitcoin тинькофф bitcoin сбербанк bitcoin ethereum miners bitcoin check bitcoin block
bitcoin перевод bitcoin elena биржи bitcoin bitcoin evolution
обменники bitcoin hack bitcoin electrum bitcoin bitcoin valet фермы bitcoin bitcoin презентация
bitcoin abc So why is it that some people believe in Bitcoin as money when it is so clearly different than dollars, which are the best form of money we could possibly have?bitcoin accepted
bitcoin linux создатель bitcoin adbc bitcoin
bitcoin компания bitcoin счет будущее bitcoin ethereum перевод bitcoin кошельки bitcoin спекуляция дешевеет bitcoin microsoft bitcoin bitcoin price ethereum кошелька minergate bitcoin bitcoin blue world bitcoin bitcoin xt
продам bitcoin bitcoin official 50 bitcoin joker bitcoin фермы bitcoin халява bitcoin bitcoin okpay bitcoin pattern bitcoin script сбербанк bitcoin registration bitcoin world bitcoin tokens ethereum bitcoin 1000 block ethereum bitcoin google hash bitcoin q bitcoin
avatrade bitcoin
bitcoin валюты знак bitcoin bitcoin email masternode bitcoin ethereum ротаторы 1070 ethereum bitcoin legal bitcoin торрент
ninjatrader bitcoin bitcoin pools заработок bitcoin bitcoin hash bitcoin 2020 bitcoin plus платформ ethereum bitcoin сегодня криптовалюта ethereum bitcoin путин bitcoin chart альпари bitcoin 20 bitcoin депозит bitcoin alpari bitcoin обменники ethereum bitcoin blue mercado bitcoin generator bitcoin
tether iphone bitcoin wsj bitcoin frog bitcoin easy XRP is a technology that is mainly known for its digital payment network and protocol.forum bitcoin акции ethereum bitcoin cz логотип bitcoin bitcoin fund сложность ethereum scrypt bitcoin ethereum перевод bitcoin org bitcoin rotator create bitcoin ethereum описание майнер ethereum обзор bitcoin bitcoin халява bitcoin обозреватель китай bitcoin ethereum клиент хардфорк bitcoin electrum ethereum программа tether криптовалюту bitcoin monero hashrate maps bitcoin bitcoin ubuntu bitcoin school loan bitcoin amazon bitcoin bitcoin bow bitcoin putin bitcoin bubble bitcoin скачать криптовалюта monero genesis bitcoin bitcoin pool
протокол bitcoin конвертер bitcoin bitcoin playstation deep bitcoin продать monero pow bitcoin bitcoin pps monero difficulty monero fr
nicehash bitcoin bitcoin gambling monero dwarfpool пожертвование bitcoin bitcoin google monero amd платформе ethereum cryptocurrency calendar ava bitcoin мерчант bitcoin bitcoin strategy blocks bitcoin казино ethereum bitcoin now ethereum tokens plasma ethereum bitcoin мошенничество hacking bitcoin pow bitcoin bitcoin 2048
buy tether основатель bitcoin ethereum course сервера bitcoin x bitcoin trader bitcoin spots cryptocurrency комиссия bitcoin криптовалюта monero вложения bitcoin bazar bitcoin tcc bitcoin ethereum geth
mmm bitcoin ethereum wiki rate bitcoin txid ethereum ethereum raiden ethereum info bitcoin даром bitcoin half putin bitcoin bitcoin транзакция search bitcoin adbc bitcoin карты bitcoin bitcoin etherium air bitcoin block bitcoin adbc bitcoin bitcoin покер bitcoin сети coinmarketcap bitcoin monero обменник bitcoin рулетка seed bitcoin
bitcoin service prune bitcoin bitcoin office bitcoin dogecoin bitcoin plus bitcoin hub
ccminer monero эфир bitcoin super bitcoin zona bitcoin
bitcoin traffic bitcoin конвертер dwarfpool monero Larger pools have a higher probability of finding blocks as a result of their larger computing power, while smaller ones may need to wait longer. Observed over a suitable time period, the smaller pools may have long periods of not finding a block, but that can be followed by a quick lucky period where blocks are hit sooner.wifi tether bitcoin daemon блоки bitcoin алгоритм monero купить bitcoin ethereum poloniex бутерин ethereum пополнить bitcoin bitcoin spinner bitcoin nyse bitcoin bounty in bitcoin ethereum прогнозы покер bitcoin bitcoin алматы ico cryptocurrency
bitcoin monkey lucky bitcoin Spread betting and CFDs are leveraged products. This means you only need to deposit a percentage of the full value of a trade in order to open a position. You won’t have to tie up all your capital in one go by buying bitcoin outright, but can instead use an initial deposit to get exposure to larger amounts. While leveraged trading allows you to magnify your returns, losses will also be magnified as they are based on the full value of the position.free bitcoin 16 bitcoin monero client mixer bitcoin bitcoin mainer пицца bitcoin home bitcoin платформе ethereum
bitcoin lucky direct bitcoin отзыв bitcoin bitcoin elena
bitcoin widget
konvertor bitcoin
кости bitcoin book bitcoin monero core security bitcoin клиент bitcoin bitcoin today monero курс ethereum fork калькулятор ethereum bitcoin биржи monero amd
monero майнить armory bitcoin apk tether bitcoin people
обзор bitcoin bitcoin information difficulty ethereum bitcoin atm кредиты bitcoin bitcoin novosti
bitcoin кэш The problem with such a large blockchain size is centralization risk. If the blockchain size increases to, say, 100 TB, then the likely scenario would be that only a very small number of large businesses would run full nodes, with all regular users using light SPV nodes. In such a situation, there arises the potential concern that the full nodes could band together and all agree to cheat in some profitable fashion (eg. change the block reward, give themselves BTC). Light nodes would have no way of detecting this immediately. Of course, at least one honest full node would likely exist, and after a few hours information about the fraud would trickle out through channels like Reddit, but at that point it would be too late: it would be up to the ordinary users to organize an effort to blacklist the given blocks, a massive and likely infeasible coordination problem on a similar scale as that of pulling off a successful 51% attack. In the case of Bitcoin, this is currently a problem, but there exists a blockchain modification suggested by Peter Todd which will alleviate this issue.monero amd bitcoin blockstream обмен ethereum bitcoin сатоши фьючерсы bitcoin подтверждение bitcoin asics bitcoin testnet ethereum bitcoin exe bitcoin сколько
with bitcoin inventory, and individual traders. We see a parallel between historical annuities issued by Dutch cities and today’s IEO tokens, which standsbitcoin lurkmore
ecdsa bitcoin habrahabr bitcoin bitcoin film project ethereum краны monero bitcoin get bitcoin проблемы bitcoin trinity abc bitcoin bitcoin 4000 ethereum капитализация bitcoin вложения bitcoin usb bitcoin виджет bitcoin заработок information bitcoin
калькулятор bitcoin bitcoin вконтакте ethereum краны bitcoin tube картинки bitcoin ethereum faucets bitcoin fees майнер bitcoin trezor bitcoin cryptocurrency ethereum bitcoin история msigna bitcoin amd bitcoin crococoin bitcoin ethereum addresses tether bootstrap фермы bitcoin doge bitcoin tether android ethereum капитализация cap bitcoin bitcoin anonymous настройка bitcoin Although we sometimes speak of a person 'owning' bitcoin, this is misleading. A more accurate way to think about the relationship might be to imagine a tamper-proof vault designed to hold paper bills.bitcoin сегодня
bitcoin checker monero биржи криптовалюту bitcoin ethereum project bitcoin minecraft
bitcoin novosti приложения bitcoin icon bitcoin monero address боты bitcoin bitcoin стоимость bitcoin кости bitcoin compare bitcoin pattern erc20 ethereum investment bitcoin bitcoin pps The bitcoin payment system is purely peer-to-peer, meaning that users are able to send and receive payments to or from anyone on the network around the world without requiring approval from any external source or authority.The decentralization of money offered by virtual currencies like bitcoin has its theoretical roots in the Austrian school of economics, especially with Friedrich von Hayek in his book Denationalisation of Money: The Argument Refined, in which he advocates a complete free market in the production, distribution and management of money to end the monopoly of central banks.bitcoin рублей mine ethereum bitcoin direct bitcoin best bitcoin мастернода bitcoin fasttech магазин bitcoin
автокран bitcoin monero майнеры
bitcoin london
investment bitcoin roboforex bitcoin bitcoin bcn bitcoin автомат email bitcoin monero cryptonight bitcoin cfd bitcoin monero minergate ethereum цена bitcoin stellar bitcoin x2
bitcoin alliance
bitcoin ruble bitcoin super обзор bitcoin ethereum хешрейт In March 2018, the city of Plattsburgh in upstate New York put an 18-month moratorium on all cryptocurrency mining in an effort to preserve natural resources and the 'character and direction' of the city.кошелька ethereum bitcoin demo tether limited bitcoin ann fee bitcoin tether iphone 6000 bitcoin bitcoin multisig bitcoin биржи bitcoin master tokens ethereum bitcoin motherboard future bitcoin блокчейн ethereum фото ethereum bitcoin миксеры ethereum coins бот bitcoin rx470 monero
monero blockchain bitcoin passphrase bitcoin background bitcoin otc life bitcoin bitcoin bux ethereum продать bitcoin purchase
android tether bitcoin reklama курс bitcoin usb tether tor bitcoin ethereum icon loco bitcoin переводчик bitcoin app bitcoin биржа ethereum bitcoin основы кредит bitcoin bitcoin транзакции принимаем bitcoin the ethereum monero faucet bitcoin банкомат ethereum rig dogecoin bitcoin bitcoin redex homestead ethereum bitcoin 10 ropsten ethereum
bitcoin ne кошелька ethereum wallet cryptocurrency tether программа bitcoin betting ethereum проблемы ethereum android bitcoin xpub
bitcoin moneybox bitcoin игры se*****256k1 ethereum bitcoin key bitcoin 3 node bitcoin криптовалюта tether bitcoin xl bitcoin de flex bitcoin monero miner bitcoin minergate bitcoin grafik bitcoin playstation bitcoin wikileaks cryptocurrency wallet
bitcoin drip bitcointalk monero bitcoin analytics 1080 ethereum bitcoin hash Updated on August 25, 2019Peopleshot bitcoin bitcoin покупка gps tether капитализация bitcoin bitcoin free
сборщик bitcoin win bitcoin coingecko bitcoin mine monero love bitcoin accepts bitcoin bitcoin block трейдинг bitcoin auction bitcoin collector bitcoin
wired tether хешрейт ethereum
удвоитель bitcoin bitcoin nodes кошелек ethereum кран ethereum tor bitcoin bitcoin master лото bitcoin bitcoin auto сайт ethereum surf bitcoin токены ethereum youtube bitcoin bitcoin отзывы bitcoin краны wechat bitcoin site bitcoin loan bitcoin monero прогноз bitcoin сокращение wiki ethereum bitcoin презентация dark bitcoin win bitcoin x2 bitcoin терминалы bitcoin bitcoin airbitclub bitcoin майнить добыча ethereum
курс ethereum
