BitCoin was already a breakthrough in the world of online currency transaction. Unlike any other transaction online which requires, banks account, transaction number and much more details which expose the sender as well the receiver, a BitCoin sender, and receiver leaves no trace which means, no matter which money you are transacting online, you won’t be tracked. BitCoin was first introduced by Satoshi Nakamoto in the year 2009 which help over 15 million of truncation creating a safer way of online transaction. But owner the decade, there has been unknown risks of losing transaction and many other faulty transactions with BitCoin, where Bit Cash comes into the play.
Whereas now with the launch of BitCash, an online transaction sees more risk-free then even with BitCoin. So what actually is the BitCash and how is it different from BitCoin? Well if that is your question too then you are in luck as today we are going to talk about What Bitcoin or Bitcash is all about how is it different as compared to BitCoins.
Without further delay, let us look at what is Bitcoin Cash and how is it different from Bitcoin.
What is Bitcoin Cash all about?
Bitcoin cash is also an online currency that you can use to process transaction which involving real money at all. And just like Bitcoin, Bitcoin cash is safe and doesn’t involve exposing your identity or amount of money transacted. But unlike BitCoin, you won’t have to face any of the faulty transaction limiters like the Bitcoin’s technical limitation and even the lack of the software updates that you used to get on BitCoins.
And taking everything apart, we now have a whole new currency in our hand that has a huge usability rate and lesser transaction error. As the official Bitcoin cash website says, “Bitcoin Cash is the continuation of the Bitcoin project as peer-to-peer digital cash.
Why was BitCoin Cash Created?
There a handful of reason why the Bitcoin Cash was created in the first place. As miners from all over the world had come to a conclusion that Bitcoin was indeed a great way of online money transaction but it came with many limitations like BitCoins infrastructure which limits transaction to 1MB in a minute, which was considered quite slow for miners all over the world.
Also, the limitation of transaction per minute which is limited to 6 transactions per second made it even slower to Visa which can do over a total of 1600 transaction in a sec. this made it really hard for 15million transaction to be done in the daytime with much slower speed.
So, what can you now expect from Bitcoin Cash? What did Bitcoin Cash change over that you won’t get on BitCoin? Well, let us have a look at that too.
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How is Bitcoin different from Bitcoin Cash?
As speed what the most unavoidable lag in the BitCoin transaction, with Bitcoin Cash you can see a dramatically increased in the BitCoin restriction of 1MB of data per minute which has been increased to 8MB of data per minute. And the first test of the Bitcoin Cash showed that you can easily transact over 7000 transactions of 2MB without any lag at all.
Not just that, Bitcoin cash also comes with replay and Wipe out protection which is new compared to the Bitcoin. With Bitcoin Cash, you can have a better wallet security with hardware wallet security system. All over improvement also includes eliminating the quadratic hashing problem which was evident on Bitcoin transaction.
So, is BitCoin Cash Safer? And what changes can you expect due to this split in BitCoin?
When it comes to safety, you can be sure to have a safe transaction and storing without breaking a sweat about security, no more it is now even more secure. And if you are an existing Bitcoin user, you can still manage both your BitCoin and Bitcoin Cash from one simple place. However, you can expect both the currency to be broader apart from each other within a few years.
Witnessing the market demand Bitcoin and Bitcoin Cash, both of them are currently on a drawing stage and we can’t decide which is the winner so far. Hence, these are all about the Bitcoin Cash and Bitcoin. Hope, now you can differentiate between these two and choose the better one for you. Let me know if you have any queries by commenting below in the comment section.