Created in august 2017, Bitcoin Cash is a division of Bitcoin. With the increased size of blocks, Bitcoin Cash allows the processing of more transactions and enhances adaptability.
Bitcoin went through another division in 2018, resulting in Bitcoin Cash ABC and Bitcoin Cash SV. With the rising popularity of bitcoin and the price of this veteran crypto coin skyrocketing, bitcoin lost its reputation as a currency for minor daily transactions and became a favored asset for investment.
Bitcoin's rising popularity hit its blockchain the hardest. With ever-expanding transactions on the Bitcoin blockchain, signs of scalability issues became prominent. The time needed for confirming a transaction and issuing fees for the transfer rose to a high.
As the design of blocks allowed handling data with 1MB of size, the increased size of transactions was a principal problem for the Bitcoin blockchain. As a result, transactions accumulated with confirmations behind schedule.
What Bitcoin-Cash proposed was increasing the size of blocks from 1MB to a volume between 8 and 32MB, so that more transactions would take place on each block. With the introduction of Bitcoin- Cash, the number of transactions per block rose to 25,000 during a stress test in 2018.
Unlike Bitcoin, Bitcoin-Cash does not include Segregated Witness (SegWit). Also known as a tool for decreasing traffic on the Bitcoin blockchain, Segwit collects only those data affiliated with transactions on each block.
Besides slight differences, Bitcoin and Bitcoin-Cash are very similar at the core. Both cryptocurrencies apply a Proof of Work protocol for activities related to the mining of new coins. The world's biggest service provider to cryptocurrency miners, Bitmain provides facilities for both Bitcoin and Bitcoin-cash blockchain.
Just like Bitcoin, there are only 21 million Bitcoin-Cash available for mining. Funnily enough, Bitcoin-Cash also started using the mining difficulty algorithm associated with Bitcoin. Known by the technical name of Emergency Difficulty Adjustment (EDA), the algorithm modifies the difficulty of mining every 2016 blocks or every two weeks.
The similarities in mining in both Bitcoin and Bitcoin-cash platforms has made eager miners to divide their mining activities between the two blockchains. Bitcoin-Cash decided it would change its mining algorithm, after finding out the algorithm was threatening the volume of supply of the blockchain in the market. The difficulty adjustment algorithm of Bitcoin-Cash has ever since evolved, making it easier for miners to generate the cryptocurrency.
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Besides taking precautions for virtual harms, your Bitcoin-Cash wallet also considers physical menaces. Supporting over 1500 cryptocurrencies, your bitcoin cash wallet spares you from the need for any external wallets.