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.
ethereum wallet bitcoin бонус программа bitcoin ethereum виталий local bitcoin tether coinmarketcap
bitcoin legal
calc bitcoin monero график bitcoin count bitcoin song bitcoin коллектор monero gold cryptocurrency algorithm bitcoin
monero rur брокеры bitcoin
tether курс monero hardware bitcoin de rush bitcoin
кран bitcoin How to Create a Cryptocurrencybitcoin 2018
web3 ethereum bitcoin расшифровка ethereum ротаторы 1000 bitcoin
daemon monero
monero pro monero benchmark abi ethereum
bitcoin обналичить bitcoin rpg bistler bitcoin bitcoin balance tether coin Although you might be tempted to try guessing the vault’s private key, doing so is useless. The range of possible numbers is virtually infinite. You could make millions of guesses per second for millions of years without success.bitcoin hunter Similarly, Ethereum records the transactions of ETH. But it also provides the functionality to record changes in the state of the network when smart contracts or programs which run on the Ethereum Virtual Machine are executed.faucet bitcoin капитализация ethereum удвоитель bitcoin
bitcoin capital bitcoin landing дешевеет bitcoin ethereum studio bitcoin blue bitcoin history bitcoin capitalization For those who see cryptocurrencies such as bitcoin as the currency of the future, it should be noted that a currency needs stability.'Instead of one person or corporation (like a bank) having control, everybody has it! To become a miner, people use their extra computing power to help solve mathematical puzzles.Ripple’s payment system uses XRP tokens for the transfer of assets on the Ripple network.16 The same $100 can be converted instantly by Peter to equivalent XRP tokens, which can be instantly transferred to Paul’s account over the Ripple network.rush bitcoin bitcoin stellar
bitcoin usb ethereum transactions pay bitcoin kupit bitcoin bitcoin nachrichten transactions bitcoin майнеры monero майнеры monero bitcoin future bitcoin spinner bitcoin site bitcoin goldman я bitcoin киа bitcoin ethereum метрополис lamborghini bitcoin wisdom bitcoin ethereum addresses
supernova ethereum 1080 ethereum cryptocurrency market webmoney bitcoin
bitcoin чат сложность monero system bitcoin bitcoin icons keystore ethereum takara bitcoin бесплатный bitcoin bitcoin mine bitcoin purchase monero обмен
ico ethereum bitcoin paper bitcoin s birds bitcoin
bitcoin рбк master bitcoin
bitcoin 4000 de bitcoin mining ethereum
bitcoin qiwi проблемы bitcoin
sec bitcoin
hack bitcoin
conference bitcoin
How do we make changes to the system? In order to change the consensus code we must somehow achieve human consensus to change the rules of the system. The Bitcoin Improvement Proposal process is described here. It's not perfect, but consensus-building is a messy process.us bitcoin
криптокошельки ethereum bitcoin algorithm bitcoin plus платформа ethereum bitcoin авито wiki bitcoin 5 bitcoin
monero usd tether mining
bitcoin сигналы bistler bitcoin запросы bitcoin 9000 bitcoin bitcoin отслеживание ethereum developer перевести bitcoin rates bitcoin кости bitcoin avatrade bitcoin british bitcoin bitcoin gadget bitcoin token
bitcoin бесплатные bitcoin установка bitcoin карты 1070 ethereum ethereum майнер ethereum обменять ethereum адрес bitcoin land btc ethereum bitcoin cryptocurrency bitcoin darkcoin bitcoin network видео bitcoin bitcoin аналитика
обновление ethereum
ico monero
bitcoin blue сигналы bitcoin bitcoin blog
bitcoin ann bitcoin форекс polkadot store график bitcoin bitcoin вывод free bitcoin bitcoin сша bitcoin play шахты bitcoin decred ethereum bazar bitcoin
tether майнинг
bitcoin word boxbit bitcoin форумы bitcoin акции ethereum пополнить bitcoin homestead ethereum сайт ethereum bitcoin основы эфир ethereum перспективы ethereum ecdsa bitcoin конференция bitcoin bitcoin transaction bitcoin loan metal bitcoin bitcoin faucets bitcoin multiplier
ethereum com bitcoin xpub bitcoin pay регистрация bitcoin фото bitcoin bitcoin air ютуб bitcoin bitcoin symbol bitcoin ira ethereum calculator nanopool ethereum bitfenix bitcoin bitcoin прогноз galaxy bitcoin collector bitcoin
rotator bitcoin bitcoin ваучер monero coin datadir bitcoin site bitcoin бесплатный bitcoin платформ ethereum monero обменник keyhunter bitcoin
bitcoin anonymous bitcoin code bitcoin apk bittrex bitcoin cubits bitcoin bitcoin пополнение bitcoin ключи
bitcoin автоматически bitcoin ledger bitcoin london matteo monero bitcoin fire bitcoin casascius индекс bitcoin bitcoin курс
tails bitcoin 99 bitcoin bitcoin 10000 bitcoin криптовалюта autobot bitcoin avatrade bitcoin рулетка bitcoin магазин bitcoin monero обмен bitcoin trader usb tether system bitcoin putin bitcoin торрент bitcoin bitcoin вход bitcoin bot
apk tether avto bitcoin bitcoin транзакции вывод ethereum Zero: An Ideological JuggernautThe digital signature is merged with the peer-to-peer network; a large number of individuals who act as authorities use the digital signature in order to reach a consensus on transactions, among other issues. When they authorize a deal, it is certified by a mathematical verification, which results in a successful secured transaction between the two network-connected parties. So to sum it up, Blockchain users employ cryptography keys to perform different types of digital interactions over the peer-to-peer network.bitcoin пицца андроид bitcoin
bitcoin кэш bitcoin зарегистрироваться
bitcoin security
bitcoin rotators faucet ethereum tether wifi bitcoin usd bitcoin aliexpress fields bitcoin cpa bitcoin кошелька bitcoin
bitcoin community bitcoin аналитика monero pro
ethereum асик bitcoin рублей 1 monero bitcoin server ethereum майнить программа ethereum ethereum кошелька bitcoin x zcash bitcoin bonus bitcoin
bitcoin инструкция miner bitcoin monero краны habrahabr bitcoin collector bitcoin bitcoin автоматически bitcoin 50000 bitcoin s
bitcoin s bitcoin bounty
minergate ethereum приложения bitcoin download bitcoin кошель bitcoin
bitcoin перевод client bitcoin bitcoin media bitcoin картинка
е bitcoin рост bitcoin платформа ethereum bitcoin биржи flappy bitcoin usdt tether ethereum logo monero cpuminer рейтинг bitcoin инвестирование bitcoin free ethereum monero miner ethereum casino проблемы bitcoin bitcoin tools fire bitcoin Bitcoin is only one of a host of cryptocurrencies that use blockchain technology, and it is here that we need to differentiate between bitcoin and blockchain, as the two tend to get used interchangeably. monero майнить кран ethereum кошелька ethereum tether верификация neo cryptocurrency отзыв bitcoin bitcointalk ethereum
bitcoin 20 bitcoin rotator bitcoin пополнить андроид bitcoin падение bitcoin bitcoin блокчейн
bitcoin вложить ethereum получить koshelek bitcoin the ethereum
настройка bitcoin ethereum bitcoin пополнить bitcoin monero difficulty index bitcoin bitcoin knots тинькофф bitcoin ethereum обозначение bitcoin markets bitcoin бонусы keystore ethereum 1070 ethereum bitcoin ledger ethereum coin заработок ethereum ethereum blockchain форумы bitcoin tether wallet bubble bitcoin bitcoin cudaminer monero asic 4 bitcoin bitcoin вложения сложность monero bitcoin weekly coin ethereum ecopayz bitcoin комиссия bitcoin bitcoin foto ads bitcoin
рейтинг bitcoin fox bitcoin bitcoin курс monero rur адрес bitcoin лото bitcoin secp256k1 bitcoin картинка bitcoin amazon bitcoin bitcoin grafik ethereum addresses bitcoin шахта
tether скачать monero майнинг ethereum client
casper ethereum github ethereum bitcoin x2 bitcoin steam boom bitcoin ubuntu ethereum
bitcoin telegram калькулятор bitcoin Wondering what is SegWit and how does it work? Follow this tutorial about the segregated witness and fully understand what is SegWit.bitcoin 33 форки bitcoin заработок bitcoin сбербанк bitcoin
addnode bitcoin обвал bitcoin bitcoin take faucet cryptocurrency ethereum пулы x2 bitcoin bitrix bitcoin часы bitcoin clicker bitcoin 99 bitcoin bitcoin экспресс bitcoin blockchain bitcoin maps dollar bitcoin ethereum 2017 jpmorgan bitcoin all bitcoin ethereum charts bitcoin приложение сервера bitcoin rpc bitcoin bitcoin okpay bitcoin кредиты system bitcoin escrow bitcoin By JASON FERNANDOsupernova ethereum IntroductionThis means storing your encrypted (or not) wallet file on a cloud storage solution such as Dropbox, or emailing them to yourself on gmail. This very similar to trusting a custodial wallet service, and is not recommended for the same reasons. You might say you use encryption for two-factor authentication, but uploading the wallet to the cloud reduces this to one-factor. Furthermore, there are a variety of ways in which 2FA can be compromised, in particular SMS-based 2FA, such as via a SIM-Swap.Merkel Tree is a data structure that is used for verifying a block. It is in the form of a binary tree containing cryptographic hashes of each block. A Merkle tree is structured similarly to a binary tree where each leaf node is a hash of a block of transactional data and each non-leaf node is a hash of its leaf node. The Merkel root or hash root is the final hash root of all the transaction hashes. It encompasses all the transactions that are underlying all the non-leaf nodes.bitcoin dance обмен tether bitcoin alliance bitcoin earnings script bitcoin bitcoin maps bitcoin birds
bitcoin china arbitrage bitcoin bitcoin ether moto bitcoin
bitcoin greenaddress bitcoin телефон bitcoin pps bitcoin разделился bitcoin home ethereum dag favicon bitcoin bitcoin wm bitcoin purse bitcoin компьютер protocol bitcoin 777 bitcoin bitcoin coin ethereum casino Bitcoin's utility and transferability are challenged by difficulties surrounding the cryptocurrency storage and exchange spaces. In recent years, digital currency exchanges have been plagued by hacks, thefts and fraud.16 Of course, thefts also occur in the fiat currency world as well. In those cases, however, regulation is much more settled, providing somewhat more straightforward means of redress. Bitcoin and cryptocurrencies more broadly are still viewed as more of a 'Wild West' setting when it comes to regulation.17 Different governments view Bitcoin in dramatically different ways, and the repercussions for Bitcoin's adoption as a global currency are significant.18ethereum логотип
форекс bitcoin bitcoin tools bitcoin drip теханализ bitcoin bitcoin список monero price nasdaq bitcoin ico monero node bitcoin описание ethereum monero обменять
bitcoin double bitcoin форумы accepts bitcoin bitcoin land
bitcoin доллар ethereum online bitcoin ваучер bitcoin monero free total cryptocurrency ios bitcoin takara bitcoin форки bitcoin карты bitcoin siiz bitcoin разделение ethereum миллионер bitcoin форекс bitcoin bitcoin maps bitcoin china bitcoin fan masternode bitcoin jpmorgan bitcoin bitcoin расшифровка lealana bitcoin логотип ethereum bitcoin options monero валюта future bitcoin bitcoin перевод monero форум bitcoin автоматический bitcoin 4 up bitcoin ico monero tether usb компиляция bitcoin bitcoin картинки pplns monero bitcoin key bitcoin cranes txid ethereum coingecko ethereum
instant bitcoin bitcoin генератор bitcoin zebra cryptocurrency tech bitcoin банк lootool bitcoin buying bitcoin bitcoin fast кошель bitcoin live bitcoin ethereum btc monero free bitcoin indonesia flash bitcoin bitcoin получить cryptocurrency mining bitcoin price bitcoin de play bitcoin ann monero Transfersкалькулятор bitcoin visa bitcoin bitcoin видеокарта poloniex ethereum 50 bitcoin нода ethereum bitcoin convert bitcoin 1070 tether обменник monero transaction
дешевеет bitcoin neo cryptocurrency
оплата bitcoin
bitcoin sportsbook bitcoin loan blender bitcoin bitcoin хешрейт bitcoin satoshi кошель bitcoin tether пополнение пополнить bitcoin инвестиции bitcoin bitcoin litecoin bitcoin forums майнинг bitcoin bitcoin capital bitcoin кошелек вывод monero брокеры bitcoin bitcoin exe ethereum прибыльность ethereum twitter balance bitcoin bitcoin win ethereum алгоритм bitcoin платформа 