Bitcoin Cash is the cryptocurrency that has been originated from the bitcoin. This is the reason some might get confused between them. So to remove that confusion we are going to discuss the Bitcoin Vs Bitcoin Cash and tell you how they are different from each other.
Bitcoin is the cryptocurrency which came to the market in 2009. Since then it has gained a lot of popularity all around the world. It is the largest cryptocurrency when it comes to the market cap and the price. The only problem with it is the volatility in the price.
Bitcoin Cash is the currency that is originated from bitcoin in the year 2017. Since then it has become one of the best spins off of any of the cryptocurrency. It has a similar problem as bitcoin of volatility but they are completely independent of the bitcoin.
Bitcoin Vs Bitcoin Cash
Getting confused between the Bitcoin and the bitcoin cash is nothing new. But there are some points which can help you to differentiate between them. These are the points which can help you to understand the difference between the bitcoin and the bitcoin cash:
The block size of the bitcoin is one MB which was creating the problem. To solve this problem the size of the blocks was increased. After increasing the size of the blocks of bitcoin a new currency was formed and that currency was bitcoin cash. The block size of the bitcoin cash is eight MB which helped a lot.
When it comes to the Bitcoin there are many mining pools which are working for the bitcoin. Due to this no miner in the bitcoin industry has the majority of 51% which makes to rule them all quite an impossible task.
Whereas Bitcoin cash is in quite a dangerous place when it comes to the majority. It is because more than 51% of the bitcoin cash is controlled by the group of 3 mining pools. This majority makes it quite difficult for other bitcoin cash holder because the currency becomes reliant on them. If they decide to dump those coins then the whole market could crash easily.
New Transaction Signature
To verify the transaction there is a need for the transaction signature. As bitcoin cash is originated from the bitcoin it is normal to think that they might have the same signature. But both the bitcoin and the Bitcoin cash have the different transaction signature. So you can easily verify the distinction between them.
Mining Difficulty can be defined as the time taken by the miner to solve and attach the blockchain. The faster it is solved the easier it is considered. The fast and easy blockchain can be transaction time but not good for the currency at least not in the long run.
Earlier the difficulty of the blockchain was easier. It was done to attract the miners but this also caused the problem of making the miners confused regarding the profitability of the bitcoin cash mining. But after sensing this problem the difficulty level of the bitcoin cash was a change which could be difficult or easier according to the requirements.
The current value of the bitcoin when the article is being written is $3,670 whereas the value of the bitcoin cash is $131. This might seem a huge difference but you have to understand that the bitcoin cash is the new currency and gaining the popularity.
These are the basic difference between the bitcoin and bitcoin cash.
From the article, you got an idea about the Bitcoin Vs Bitcoin Cash and which one to invest in if you are thinking of it. But before investing in any of the cryptocurrency you should know that both of them are very volatile currencies. So before investing you should analyze the market environment.