However, Bitcoin Cash further takes steps to make it better. To date, the transaction speeds have considerably improved. The hard fork of Bitcoin and the formation of Bitcoin Cash aimed at solving this scalability challenge. Users experienced slower transaction speeds and delays due to the disproportionate growth of block size compared to the number of users. With the gaining of popularity and investments, the transactions of Bitcoin increased by many folds over the years. Among these changes is the number of transactions. Thus, a lot has changed in the crypto space. However, Bitcoin was the sole cryptocurrency in 2009. Investors who are interested in cryptocurrency in 2023 will get a plethora of options to choose from. The Scalability Challengeīitcoin is and has been the top cryptocurrency since its first release. Behind its inception was the aim of allowing more transactions, theoretically leading to decreased transaction fees. A hard fork occurs when a Blockchain network, already established, splits into two. Bitcoin Cash came into being after a Bitcoin hard fork. Even though they both are cryptocurrencies, Bitcoin Cash was released in 2017, almost eight years after the release of Bitcoin. Before delving into Bitcoin Cash’s scalability solutions, it is good to note that Bitcoin Cash differs from Bitcoin.
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