Bitcoin Cash is consequence of Bitcoin chain which delves or split into two crypto –
(1) $BCH/$BCC(Bitcoin Cash) and
(2) $BTC(Bitcoin Classic).
WHY BITCOIN CASH PROJECT HAPPENED
- BTC has maximum limit of 1MB or 3 transactions per second.
- Last year processing fees skyrocketed as a result of delay in BTC transactions which halted BTC growth.
- The above trend made users, merchants, businesses and investors to abandon BTC.
- Markets share dropped from 95% to 40% despite first movers advantage.
-This series of events made investors shift to Bitcoin Cash and it immediately rises block limit to 8MB seeking low fees and fast transactions.
Having explained the big picture of these projects, let’s now itemize the major contrasts…
BCC & BTC MAJOR CONTRASTS
(1) BCC cannot go to zero, WHILE BTC can.
(2) BCC has EDA (emergency difficulty adjustment) WHILE BTC does not
(3) BCC can’t die since it has EDA, WHILE BTC can die since it doesn’t have EDA
(4) EDA as a feature in BCC is a game changer because of its chain depth WHILE BTC doesn’t have this.
The fundamental advantage of BCC over BTC
(1) More users
(2) Cheaper transactions
(3) Faster transactions
(4) Advanced privacy because of fees related to mixers
(5) Not vulnerable to developer centralization (Blockstream)
Let us know what you think in the comments box below.
At Altecho Trading and Exchange Limited- ATEL, we give you news, opinions, advice and research on Crypto-currency (eCurrency, digital currency), computer/general security issues and the latest internet threats.
Credit: Atel
