After Forking Around With Bitcoin: Bitcoin Cash
After Forking Around With Bitcoin: Bitcoin Cash

By M87 | Blockchain_Space | 3 Jan 2020


Where to start with BCash... First of all, don't call it BCash. It's Bitcoin Cash(BCH). This video should get the gist of it.

Quick Flashback

Roger Ver is an early adopter of Bitcoin and a huge advocate for the blockchain technology. When the Bitcoin mining community had their infamous dispute, Ver chose the side of Bitcoin Cash. But you can speculate he has a bunch of both.

While many in the crypto community were around during the whole Bitcoin vs Bitcoin Cash hard fork "Civil War" fiasco, there are many articles that explained in detail what happened. If you had Bitcoin at this time, you most likely got some Bitcoin Cash. If you held BTC in an exchange, some exchanges did not honor the fork and held on to it because they hold the private keys(Not your keys, not your bitcoin). Overall the crypto community was seeing some nice gains in the market.

The dispute over governance and economics of Bitcoin caused a split to many believing Bitcoin Cash is the "true" Bitcoin to Satoshi Nakamoto's original vision detailed in the whitepaper.

Bitcoin Cash currently the #5 Coin on CoinGecko at the time of writing.

While hitting an all-time high of nearly $3,000 USD in December of 2017, it has slowly been climbing down and dipping below $100 for a brief period in 2018.

Since Bitcoin Cash began there have been many hard forks and other versions that made things confusing for Bitcoin itself as the market was deciding which was the "true" Bitcoin. Up until now, we have been seeing the market push out the unnecessary coins and work with how scalability is over the years.

Bitcoin Cash has been performing quite well as it is faster with larger block size limits and other features. However, with the lightning network for many coins now, and can even be implemented on Bitcoin Cash, the speed is not being the driving value for crypto-currency in 2020.

Privacy

With Litecoin adding confidential transactions, it seems Bitcoin Cash has been on the privacy train with integrating The Onion Router (TOR) to Cashfushion for the Bitcoin Cash network.

351665157-d70abb4e6359f2491cc951a5dfcc9dc9f7732a3d110cfa4dd98341e470a2e7b7.png

BCH holders can already use CashShuffle that is similar to Cashfusion's Protocol.

According to a stats page, there have been 197,442 BCH (roughly $40 Million USD) shuffled using CashShuffle at the time of writing.

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Source: https://stats.devzero.be/#/

Back in November 2019, a Reddit post by the developer revealed an early alpha version of the Cashfusion software was running behind the scenes and that a beta will be coming soon. A link to the test transaction was also shared.

https://explorer.bitcoin.com/bch/tx/de84ba869fc3f735d73af415655242945f8fa8f2869549c86544121f463adad5

Compared to CashShuffle, Cashfusion adds another privacy layer along with combining TOR. CashShuffle can still leave clues behind for analysis to detect and Cashfusion apparently solves this with their shuffling method of dealing with the inputs and outputs of transactions.

With privacy being one of the biggest features for many in the crypto community, will Bitcoin Cash gain traction in the top 10 coins?

Lower Transaction Fees

According to BitInfoCharts, compared to Bitcoin, BCH has significantly lower fees that make it appealing for those in the crypto to use this BCH.

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Source: BitInfoCharts

 

351665157-d92efc84dd11997a3c4db54c5d95697fe636c7872c42121aa3f10359b7d51b44.png

Source: Read.Cash

 

With growing crypto blogging platforms competing like Read.Cash, this makes Bitcoin Cash an enticing coin to hold.

https://read.cash/@Messier87/what-makes-bitcoin-cash-worth-holding-e380d772

 

Cover Image Source


M87
M87

Working towards digital sustainability.


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