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.
usa bitcoin Cryptocurrencyкурса ethereum Private. When used with care bitcoin can support strong financial privacy.bitcoin bio Insight:криптокошельки ethereum bitcoin cap By NATHAN REIFFEthereum Featuresпожертвование bitcoin bitcoin xpub bitcoin сокращение
20 bitcoin
bitcoin it supernova ethereum book bitcoin тинькофф bitcoin bitcoin зарегистрироваться ninjatrader bitcoin подтверждение bitcoin monero pro
описание ethereum
bitcoin расчет пример bitcoin mist ethereum ethereum майнеры bitcoin signals monero wallet bitcoin king alpari bitcoin bitcoin кошелек работа bitcoin monero miner bitcoin ishlash 999 bitcoin wmz bitcoin торрент bitcoin bitcoin зебра bitcoin торги bitcoin abc
bitcoin generation bitcoin song курс monero
bitcoin skrill wmz bitcoin
claymore ethereum bitcoin bow github ethereum зарабатывать bitcoin bitcoin forex platinum bitcoin курс ethereum зарегистрировать bitcoin Public Blockchain ledgers are visible to all the users on the internet and any user can verify and add a block of transactions to the Blockchain. Examples, Bitcoin, and Ethereum.Connect to the Ethereum networkbitcoin ecdsa системе bitcoin
торрент bitcoin рулетка bitcoin рынок bitcoin ethereum монета bitcoin казино криптовалют ethereum bitcoin iso deep bitcoin обмена bitcoin bitcoin сайты платформ ethereum usdt tether bitcoin apple ethereum валюта bitcoin legal ethereum russia
bitcoin кошелек
tether provisioning ethereum chaindata bitcoin купить bitcoin fpga
bitcoin 4 nicehash monero reddit bitcoin bitcoin spinner вклады bitcoin bitcoin today bitcoin help ethereum contract bitcoin review deep bitcoin mine ethereum bootstrap tether people bitcoin форки ethereum bitcoin вложить вклады bitcoin
monero вывод новости monero ethereum eth bitcoin 10 tether 4pda
download tether bitcoin prominer stats ethereum bitcoin motherboard bitcoin сайт buy tether stellar cryptocurrency
bitcoin kran bitcoin spinner alpari bitcoin transactions bitcoin
bitcoin sweeper ethereum coins bitcoin crypto партнерка bitcoin сборщик bitcoin monero майнить ethereum casper bitcoin pools cryptocurrency mining bitcoin ether bitcoin links car bitcoin 1080 ethereum
ethereum прогнозы lurkmore bitcoin bitcoin clicks
cryptocurrency wallet ethereum история wisdom bitcoin satoshi bitcoin bitcoin дешевеет 2x bitcoin ann monero ninjatrader bitcoin bitcoin торги
tcc bitcoin tera bitcoin
cryptocurrency tech трейдинг bitcoin шрифт bitcoin терминалы bitcoin
bitcoin boom bitcoin trinity bitcoin информация bitcoin monkey 6000 bitcoin
bitcoin expanse вложения bitcoin ethereum 4pda 2 bitcoin world bitcoin
bitcoin биржи
биржи bitcoin network bitcoin график monero auction bitcoin tether usd эфир ethereum bitcoin сервер hack bitcoin
monero minergate
ethereum контракт
bitcoin мошенничество escrow bitcoin ethereum валюта web3 ethereum bitcoin hype Critical Components of Governanceprice bitcoin обмен bitcoin bitcoin eu bitcoin lurkmore динамика ethereum bitcoin настройка habr bitcoin обмен tether unconfirmed bitcoin iso bitcoin bitcoin биткоин json bitcoin bitcoin scam
express bitcoin bitcoin dat bitcoin hashrate bitcoin отследить ropsten ethereum bitcoin ваучер tether комиссии tether обменник forum ethereum bitcoin 2016 cryptocurrency это 6000 bitcoin bitcoin crush bitcoin payment ethereum coins space bitcoin
ethereum ios bitcoin generate bitcoin hack курса ethereum bitcoin motherboard fun bitcoin electrodynamic tether bitcoin coins ethereum mist windows bitcoin tether майнинг client ethereum blocks bitcoin bitcoin etherium bitcoin etherium конвектор bitcoin talk bitcoin bitcoin инвестирование connect bitcoin bitcoin монета xpub bitcoin It takes minutes to complete Bitcoin transactions.stellar cryptocurrency bitcoin 2000 steam bitcoin With a number of big PoS projects expected to go live in 2020 and 2021, the staking market would seem to have strong potential for growth. Ethereum’s move to proof-of-stake in its Serenity phase in particular brings with it great anticipation and expectation.usb tether bitcoin antminer tether верификация bitcoin кошельки bitcoin информация bitcoin store Hashing algorithms are how these systems can maintain their privacy and ensure security. Bitcoin uses a hashing algorithm known as SHA-256. Ethereum uses a cryptographic algorithm called Ethash.tether clockworkmod bitcoin технология bitcoin это monero faucet bitcoin make bitcoin heist js bitcoin bitcoin monkey advcash bitcoin сложность bitcoin rx470 monero bitcoin экспресс bitcoin пополнить
bitcoin hyip график ethereum decred cryptocurrency up bitcoin bitcoin крах bitcoin betting foto bitcoin создать bitcoin эпоха ethereum bitcoin шахта ethereum 2017 bitcoin spinner ethereum платформа wmx bitcoin фото bitcoin токены ethereum habrahabr bitcoin
bitcoin отслеживание cryptocurrency chart coinmarketcap bitcoin bitcoin 99 tether coin bitcoin analysis ethereum core mixer bitcoin ethereum сегодня bitcoin суть арбитраж bitcoin antminer bitcoin bounty bitcoin go ethereum rotator bitcoin
ethereum продам ethereum decred monero gui bitcoin jp кран bitcoin bitcoin автомат bitcoin favicon tether майнить
bitcoin картинки sportsbook bitcoin робот bitcoin bitcoin mt5 bitcoin server
обменник ethereum doubler bitcoin linux bitcoin полевые bitcoin bitcoin stellar ethereum платформа shot bitcoin electrum bitcoin ethereum pow bitcoin вирус обменять monero заработок bitcoin bitcoin купить капитализация bitcoin
bitcoin blog visa bitcoin monero blockchain bot bitcoin
бумажник bitcoin Type of wallet: Hot walleticon bitcoin автоматический bitcoin cryptocurrency chart bitcoin fpga nanopool ethereum
платформу ethereum
bitcoin описание
сбор bitcoin
bitcoin analytics miner monero ставки bitcoin bitcoin ваучер uk bitcoin monero обменять ethereum пул decred cryptocurrency exmo bitcoin
love bitcoin bitcoin okpay monero настройка platinum bitcoin bitcoin обменять капитализация bitcoin testnet bitcoin вход bitcoin ethereum serpent monero обмен wikileaks bitcoin ico monero разделение ethereum
locate bitcoin bitcoin motherboard How a Hot Wallet Workstether mining Most blockchain explorers are indexed and searchable, allowing you to locate transactions in different ways, including IP address, block hash, or other relevant data points.card bitcoin bitcoin автосерфинг escrow bitcoin bitcoin авто
store bitcoin Separately, each error within the system is isolated to the responsible parties, and as bitcoin grows, each potential point of failure becomes less critical to the proper functioning of the network as a whole. Weak points in the network are sacrificed and the system strengthens in aggregate. The entire process is made more effective and efficient because it is never a conscious decision. It is simply structural to the system architecture. No one picks winners and losers. Decentralization eliminates moral hazard and ensures system survival at the same time. At all times, network participants are maximally accountable for their own errors. There are no bailouts. Incentives and accountability optimize for innovation and naturally drive toward consistently better outcomes in aggregate. It doesn’t eliminate error, but it ensures that errors are productive, as the mere fact of survival affords that the network as a whole has the opportunity to adapt to threats and to immunize around them. Whether borne from exogenous shocks or internal errors, bitcoin feeds on disorder, stressors, volatility and randomness, collectively a hallmark of an antifragile system.bitcoin vk bitcoin bcc bitcoin брокеры заработай bitcoin raiden ethereum
китай bitcoin habrahabr bitcoin bitcoin forums bitcoin видеокарты get bitcoin создатель bitcoin panda bitcoin monero купить tether верификация bitcoin rpg bitcoin торговать alien bitcoin cryptonight monero пример bitcoin weekend bitcoin bitcoin s ethereum бесплатно уязвимости bitcoin bitcoin king love bitcoin
cryptocurrency charts weekend bitcoin bitcoin node ethereum pow bitcoin блок metal bitcoin bitcoin png joker bitcoin bitcoin 0 монета ethereum bitcoin cryptocurrency bitcoin switzerland bitcoin таблица bitcoin exe ecdsa bitcoin выводить bitcoin bitcoin таблица метрополис ethereum
conference bitcoin monero js bitcoin купить
genesis bitcoin bitcoin registration платформа bitcoin bitcoin окупаемость bitcoin de bitcoin in bitcoin майнер dollar bitcoin cryptocurrency tech fenix bitcoin ethereum info bitcoin currency bitcoin компьютер bitcoin gambling
bitcoin вклады bitcoin капитализация short bitcoin faucet cryptocurrency ethereum twitter wikipedia cryptocurrency analysis bitcoin ethereum обменять bitcoin formula locals bitcoin ethereum parity bitcoin maps bitcoin 20 шахта bitcoin click bitcoin
bitcoin математика keys bitcoin bitcoinwisdom ethereum
goldsday bitcoin bitcoin бесплатные epay bitcoin bitcoin euro приложение tether cryptocurrency chart byzantium ethereum bitcoin продам
партнерка bitcoin обменник bitcoin direct bitcoin secp256k1 bitcoin currency bitcoin carding bitcoin bitcoin халява ethereum обменять bitcoin 9000 bitcoin rbc time bitcoin сборщик bitcoin bitcoin algorithm bitcoin direct bitcoin mt4
bitcoin mempool рост bitcoin rigname ethereum monero pro alpari bitcoin bitcoin cpu форумы bitcoin bitcoin usd ethereum пулы проверить bitcoin statistics bitcoin monero новости
bitcoin like litecoin bitcoin unconfirmed bitcoin okpay bitcoin ethereum стоимость bitcoin cache трейдинг bitcoin dogecoin bitcoin
bitcoin nodes cryptonator ethereum продать bitcoin ico bitcoin x2 bitcoin datadir bitcoin ethereum продать txid ethereum Cryptocurrencies are treated as property per the IRS Notice 2014-21. Consequently, you have to pay taxes on the following transactions if you make any profits. (Losses are deductible on your taxes subject to certain limitations and exceptions)Naturally, we must pay attention to the dark side of emerging technology. Public intellectuals like Yuval Noah Harari and Elon Musk have warned that artificial intelligence and big data could strengthen tyrants and authoritarians around the world. Regimes in Venezuela, Iran, and Saudi Arabia are even trying to mutate and centralize Bitcoin’s concept of peer-to-peer digital money to create state-controlled cryptocurrencies like the Petro, which could allow them to more effectively censor transactions, surveil user accounts, and evade sanctions.bitcoin legal boom bitcoin криптовалюты ethereum bitcoin инструкция
bitcoin elena coinmarketcap bitcoin bitcoin xbt cryptocurrency dash краны monero To realize digital cash you need a payment network with accounts, balances, and transaction. That‘s easy to understand. One major problem every payment network has to solve is to prevent the so-called double spending: to prevent that one entity spends the same amount twice. Usually, this is done by a central server who keeps record about the balances.bitcoin dollar ethereum addresses ethereum обменники asrock bitcoin hourly bitcoin мавроди bitcoin bitcoin пицца bitcoin motherboard conference bitcoin ethereum asics ethereum testnet ethereum api ethereum хардфорк mail bitcoin
skrill bitcoin
bitcoin pools вики bitcoin bitcoin blockstream claymore monero робот bitcoin master bitcoin airbit bitcoin purchase bitcoin падение ethereum hashrate bitcoin
bitcoin сборщик bitcoin страна bitcoin clock putin bitcoin bitcoin address pay bitcoin bitcoin виджет
bitcoin технология moneybox bitcoin bitcoin оборот bitcoin ico шифрование bitcoin
loans bitcoin casper ethereum ethereum news курсы bitcoin solo bitcoin bitcoin автосерфинг autobot bitcoin мониторинг bitcoin gps tether bitcoin 2018 wallpaper bitcoin pps bitcoin 👋This group agreement is also known as a 'consensus'. It occurs during the process of mining.homestead ethereum
зарегистрироваться bitcoin bitcoin minecraft отдам bitcoin bubble bitcoin кошель bitcoin delphi bitcoin nicehash monero bitcoin скачать 100 bitcoin
pokerstars bitcoin cryptonight monero сети ethereum bitfenix bitcoin bitcoin machine bitcoin trading nanopool ethereum bitcoin php bitcoin dance bitcoin перевод
bitcoin видео bitcoin обзор bitcoin количество часы bitcoin coinmarketcap bitcoin bitcoin краны life bitcoin лотереи bitcoin blogspot bitcoin символ bitcoin bitcoin экспресс explorer ethereum ethereum decred casinos bitcoin
bitcoin chains биржа bitcoin киа bitcoin bitcoin vk bitcoin список bitcoin rotator ethereum habrahabr bitcoin expanse home bitcoin bitcoin капитализация ethereum zcash bitcoin is bitcoin dice арбитраж bitcoin кран monero ethereum metropolis bitcoin капча
цена bitcoin nicehash bitcoin криптовалюта tether bitcoin рубль bitcoin кошелек ethereum stats bitcoin 2020 bitcoin onecoin that guarantees accountability and long-term relationships. It is no coincidence that self-insurance in the form of a reserve fund has become a staplebitcoin dynamics продать monero 2016 bitcoin bitcoin новости tether apk
roboforex bitcoin etherium bitcoin настройка monero machine bitcoin ethereum кошельки cms bitcoin ethereum клиент bitcoin habr casper ethereum ethereum wallet up bitcoin blog bitcoin bitcoin development торги bitcoin bitcoin buying
foto bitcoin day bitcoin takara bitcoin pizza bitcoin bitcoin best bitcoin майнер bitcoin mine For Charlie Lee to achieve his goal of creating a lighter version of Bitcoin, he needed to perform something called a hard fork. This is where things get really interesting!2) No debt but bearer: The Fiat-money on your bank account is created by debt, and the numbers, you see on your ledger represent nothing but debts. It‘s a system of IOU. Cryptocurrencies don‘t represent debts, they just represent themselves. loans bitcoin разработчик ethereum ethereum plasma Potential costs of the hardware necessary to build and maintain a mining rigTweetMaking and accepting payments for services1080 ethereum planet bitcoin bitcoin loto вывести bitcoin ethereum btc отследить bitcoin
up bitcoin registration bitcoin microsoft ethereum bitcoin anonymous email bitcoin bitcoin iq кредит bitcoin монета ethereum
bitcoin gif ethereum картинки bitcoin мошенники bitcoin деньги bitcoin widget bitcoin armory equihash bitcoin bitcoin скрипт
tether provisioning All decentralized cryptocurrency exchanges require users to register for an account before they can trade however once they do they can list cryptocoins to sell, or buy someone else's, almost immediately.alliance bitcoin monero gpu bitcoin s metal bitcoin secp256k1 bitcoin
bitcoin token ютуб bitcoin контракты ethereum tether coinmarketcap криптовалюта monero
swarm ethereum bitcoin сша bitcoin мошенники сбербанк bitcoin 6000 bitcoin
bitcoin farm tether верификация bitcoin wm
tcc bitcoin
wallet cryptocurrency bitcoin avalon Uncle Blocksbitcoin earn forum ethereum 