To improve the existing Cryptocurrency system, new projects like Bitcoin Cash was born!
While this algorithm has been around for quite a while, it wasn’t made publicly available to the general public until recently. What makes bitcoin cash different than other successful Cryptocurrencies from bitcoin cash price is that the developers took the knowledge and power that the developers of Monero and Dash have built and applied it to their BCH alternative. This is what allowed them to reach such lofty heights in the shortest amount of time.
After months of hype and speculation, BCH was finally released to the public on August 12th. This was a major event for the entire cryptocurrencies because BCH was the big dog when it came to Forking the Blockchain Technology. Right after BCH hit the scene, all eyes were set onchainers like Dash and Bitcoin. Cash had a very difficult time catching up to these competitors. Now after almost a month and a half, BCH has surpassed all of the other top contenders in terms of Forking the Blockchain Technology.
With that being said, many are wondering what exactly is going on with BCH? Many people are wondering if the project is simply a clever marketing tactic by the developers of Dash, or if BCH really has the capability to fulfill the original vision that was laid out for the cryptocurrency industry. In order to understand exactly what is happening with cash, you must take a look at the original vision of its creators;
Dash – The founders of Dash, which also goes by the name of “bitcoins” created this brilliant concept in order to provide the general public with an affordable and practical way to transact on the internet. The general idea behind this was to create a decentralized way to transact on the internet. By decentralizing the process, it allows users to scale effectively using only the resources they have available to them. In this way, they are able to control their transactions on a global scale effectively.
BCH – Much like Dash, BCH was developed to solve problems that existed with the previous generation of blockchains, namely the lack of scalability. scalability refers to the ability to process unlimited number of small size transactions without worry of the transaction fees going to waste. In order to scale effectively, BCH works by adjusting the block size limit, which allows for unlimited number of small transactions to take place at once. Unlike Dash, which works in a similar fashion as well, there is currently no plan to increase the block size limit further. You can get more information from https://www.webull.com/cryptocurrency before investing.