The Bitcoin Cash (BCH) Hard Fork Is Over 500 Days Old, But Did It Hurt or Harm Bitcoin’s Legacy?

2019-1-19 22:34

After 17 months after the hard fork that affected the Bitcoin (BTC) network, Bitcoin Cash (BCH) does not seem to be prospering and growing as expected by some of its supporters. Although there are several enthusiasts supporting Bitcoin Cash, the truth is that the network is not growing and performing as many would have liked.

According to data from Coinmetrics, Bitcoin Cash is behind Bitcoin in terms of transaction volume and active addresses. While Bitcoin active addresses remained stable throughout 2018, the number of BCH active addressed experienced a steady decline during the last year. Furthermore, the block that Bitcoin Cash aimed at improving was never close to its limit.

During the last 500 days, Bitcoin Cash proponents have been trying to explain why Bitcoin Cash is better than Bitcoin, but the adoption has resulted to be slower than expected. Bitcoin Cash proposed larger blocks compared to Bitcoin something that would allow the whole network to scale without having to be worried about higher fees or slow transaction times.

Back in December 2017, Bitcoin experienced several congestions. Indeed, the network had very high fees and slow transaction times. This has affected the whole network, and even other digital asses were congested, including Ethereum (ETH). Bitcoin Cash aimed at offering cheaper transactions with larger block size.

According to the data provided by Coinmetrics, Bitcoin Cash had an average block size of around 171 KB since August 2017, when it forked from the Bitcoin network. Bitcoin instead had an average block size of 934 KB. This shows that the potentialities behind Bitcoin Cash have not been used. Indeed, Bitcoin Cash is just using 2.1 percent of its block capacity. Furthermore, it is just 18 percent of Bitcoin’s block size.

Additionally, Bitcoin Cash experienced a new hard fork at the end of 2018. In November last year, Bitcoin SV (BSV) forked from the Bitcoin Cash network and created its own chain. This has lead to a larger division among Bitcoin Cash supporters. Roger Ver and Jihan Wy have been backing Bitcoin ABC proposal for Bitcoin Cash, while Craig Wright and Calvin Ayre supported Bitcoin SV.

Another thing to take into account about Bitcoin Cash is the fact that its market capitalization is just 3.51% of Bitcoin’s market cap, showing that the effect that it had on the network was very limited.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 96151.32 (-1.05%)
Объем 24H $97.995b
Изменеия 24h: 1.45 %, 7d: 8.38 %
Cегодня L: $94006.77 - H: $98156.69
Капитализация $1902.398b Rank 1
Цена в час новости $ 3730.97 (2477.11%)

bitcoin cash network growing bch hard fork

Источник: bitcoinexchangeguide.com

bitcoin cash → Результатов: 126


Bitcoin Cash $BCH Takes The Spotlight While Bitcoin Battles Selling Pressure 

Bitcoin Cash ($BCH) positions itself as a user-friendly solution for daily transactions, boasting minimal fees and swift confirmations, ideal for routine purchases and micro-transactions. Despite its designed convenience, concerns are surfacing as traders exhibit Fear, Uncertainty, and Doubt (FUD) towards assets like Bitcoin Cash and Loopring, reflected in a surge […]

2024-1-25 23:15


Каковы перспективы Bitcoin Cash после роста на 140%?

На этой неделе цена Bitcoin Cash (BCH) взлетела более чем на 100%, достигнув 13-месячного пика в $235. Ключевые ончейн-метрики указывают на возможность продолжения ралли. Во вторник, 20 июня, состоялся официальный запуск EDX Markets.

2023-6-30 12:56


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Maker whale activity surges by 1400% - Time for MKR's price to break out?

Large transaction volumes for Maker rose by over 1,400% in just two days  Despite rising whale activity, technical indicators and on-chain metrics flashed mixed signals for MKR  Maker (MKRThe post Maker whale activity surges by 1400% - Time for MKR's price to break out? appeared first on AMBCrypto.

Is Ethereum set to outperform Bitcoin? Key data suggests...

Analysts predicted that Ethereum could outperform Bitcoin due to key indicators. Ethereum spot ETF inflows and ascending price channels indicated potential price targets up to $10,000. EtherThe post Is Ethereum set to outperform Bitcoin? Key data suggests... appeared first on AMBCrypto.

QNT's latest breakout can push altcoin's price to THIS level...

QNT's breakout from its descending trendline and bullish indicators signaled potential gains to $229 On-chain metrics and declining exchange reserves highlighted growing demand and reduced sellThe post QNT's latest breakout can push altcoin's price to THIS level... appeared first on AMBCrypto.

XRP's $1 at risk? As trading volume drops 77%, concerns rise

XRP's $1 milestone seemed uncertain, as daily active addresses declined significantly. Ripple's trading volume dropped from almost $3 billion to around $207 million. After months of consolidThe post XRP's $1 at risk? As trading volume drops 77%, concerns rise appeared first on AMBCrypto.

NEAR rallies 12% in 7 days: Is $8 on the cards?

NEAR traded at $5.79 at press time, gaining 12% in seven days with $712M daily trading volume and $7B market cap. Futures Open Interest dropped 5% while TVL hit $260M, signaling steady ecosysteThe post NEAR rallies 12% in 7 days: Is $8 on the cards? appeared first on AMBCrypto.

TRON's USDT dominance - Here's what that means for TRX's price

TRX recorded gains of over 26.17% in the last 30 days TRON's USDT weekly volume surpassed 150 billion - A sign of strong adoption TRON, at the time of writing, was valued at $0.1986 with a mThe post TRON's USDT dominance - Here's what that means for TRX's price appeared first on AMBCrypto.

CVX crypto soars 20% in 24 hours - Is $5 the next target?

CVX crypto pumped 83% on the 19th of November; will the uptrend continue?  A notable whale could have triggered the wild upswing, per an analytics firm.  Convex Finance’s native token, CThe post CVX crypto soars 20% in 24 hours - Is $5 the next target? appeared first on AMBCrypto.