Bitcoin Cash (BCH) is taking is not giving Bitcoin (BTC) a breather at the moment. The Crypto spearheaded by Craig Wight is going full steam ahead with announcements, news and innovation whilst BTC has seemingly stayed still.
Craig Wright and others discussed the future of BCH during a discussion at the University of Exeter. You can watch the discussion here. If you have an interest in the future of Crypto then this is well worth a watch. If you have an interest in the future of Crypto then this is well worth a watch.
Is bitcoin cash the real bitcoin?
I have been a firm believer in BCH for a while now and first began posting reasons why back in October 2017. When i first heard news of Bitcoin’s hard fork which would lead to the creation of BCH, I was sceptical and even happy that the likes of Coinbase stated they were not going to support the forked coin.
However, after seeing the innovation and more importantly the determination of the people behind BCH to make it into a success, I soon changed my mind.
The BCH team constantly refer to Satoshi’s white paper – which after all is what made Bitcoin a success in the first place. They constantly refer to the need for Bitcoin to be a peer-to-peer transfer of value. Bitcoin’s high fees and slow transaction times are making this extremely difficult. The small block size of BTC and its refusal to raise the blocks is leaving it behind.
Bitcoin Cash is not only going after Bitcoin but the cash system as a whole. Bitcoin appears to be content at being the number 1 crypto whereas BCH wants to be the number one cash system! BCH plans to incorporate smart contracts and has a number of patents pending which have been applied for by Nchain.
“While we are building enterprise value through our patent portfolio, Nchain is committed to using our intellectual property to benefit the bitcoin cash community,” Nguyen notes. “We intend to make key IP assets available for free usage only on the Bitcoin Cash blockchain – through our new ‘Nchain Open Bitcoin Cash License.” ~ Jimmy Nguyen (CEO of Nchain)
BCH is focused on real world use, they want a farmer in Africa to have the same user ability as a broker in London or gamer in China, with the ability to transfer value across the globe in an instant and not having to pay enormous transaction fees.
WHAT TO LOOK OUT FOR?
BCH ahas a planned hard fork (upgrade rather than a new coin) for 15 May which will increase the block size from 8mb to 32mb.The hard fork will also allow more information to be stored on the BCH blockchain, including contracts and deeds. It is definitely a crypto to keep a very close eye on over the coming months.
Bitcoin (BTC) is in danger of being left behind.
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