In 2017, the blockchain used for Bitcoin forked, which means a new and somewhat different digital coin was created, the Bitcoin cash.
Instead of creating a new digital coin from scratch, which would most likely include creating a new blockchain as well, fork allows creating a new cryptocurrency that is a duplicate version of the original coin. Both coins, like Bitcoin and bitcoin cash, have the same history as previous transactions, but future transactions are independent of one another.
If you are updated on any and all bitcoin cash news, everyone who has a certain amount of Bitcoin before the fork also has the same amount of bitcoin cash after the fork.
But what is bitcoin cash? Take a closer look at this famed cryptocurrency.
A Closer Look at Bitcoin Cash
If you know anything about cryptocurrencies or is familiar with the market, then you know that there are loads of digital coin available, and Bitcoin cash is yet another modified crypto.
Some of the existing coins in the crypto world were created from scratch, while others like Bitcoin cash, were created by forking Bitcoin. And while most of them have a significant difference from Bitcoin, some are simply copycats. However, from all cryptocurrencies which forked from Bitcoin before, they are nowhere near the level of Bitcoin cash right now, which is already ranked fourth of the top cryptocurrencies based on market cap.
Is Bitcoin Cash Different from Bitcoin?
So, what is the difference between bitcoin cash vs bitcoin?
Based on their history, bitcoin cash isn’t a lot different from Bitcoin as bitcoin cash was forked from the Bitcoin blockchain ledger.
However, going forward, there are independent of one another. Bitcoin cash is the Bitcoin project continuation towards peer-to-peer digital cash, with upgrades in terms of consensus rules, which allows the digital coin to scale and grow.
Why Is Bitcoin Cash a Must-Own Digital Coin?
Since it was first launched, bitcoin cash has gained a lot of popularity and has risen through the ranks in the top cryptocurrencies. The digital coin surged early this year, making it one of the best performing cryptocurrency.
In the crypto world, blockchains gain value through its usefulness, and that is where bitcoin cash has a lot of potentials. While Bitcoin remained on the top tier of cryptocurrencies, it has consistently faced issued recently like delays in transaction processing. On the other hand, bitcoin cash is boosted by its ease of use and hassle-free instant processing, which is ideal as a medium for daily transactions.
Additionally, bitcoin cash continues to develop and use new infrastructures and innovations, which will largely contribute to its growing capability and popularity.
