How Bitcoin cash (BCH) is better than bitcoin
As the number of cryptocurrencies in the market continues to grow the question remains, which one will take the role of a true currency? Bitcoin (BTC), the most popular crypto, is unlikely to take this role due to speed and transaction cost issues.
A good majority of the other coins are either dealing with similar issues or are struggling with market acceptance. However, there is one coin that has all the attributes that can make it function as currency, and that’s bitcoin cash (BCH). Yes, you got that right, bitcoin cash has the potential to revolutionize money, and change it for good. Here’s why:
- It has better functionality that bitcoin (BTC)
One of the great aspects of bitcoin cash (BCH) is that it has fast transaction speeds and low costs. These are the two major problems that are facing bitcoin, and part of the reason why many believe it will never succeed as a currency. While one can argue that there are many other coins in the market that have these functionalities, let’s not forget that the whole crypto market hype up to this point has been led by bitcoin. Very few people outside of the techies community knows of Litecoin or some other fast crypto.
This gives Bitcoin cash brand equity since it is a bitcoin fork, and the name bitcoin alone gives it some serious weight in the market. As the markets have proven time and again, popularity does trump over functionality sometimes. It is for the same reason that Ethereum has emerged dominant in the smart contracts segment despite there being other smart contract platforms that are way more efficient. Expect bitcoin cash to take over as the true digital currency even though many more efficient coins will keep springing up, but never beat it.
- It has exceptional on-chain scaling
Scalability is one of bitcoin (BTC) biggest problems. That’s because it makes use of a 10 minute block time that allows it to scale to 32MB blocks on-chain. In layman’s language, this means that bitcoin cash (BCH) has the capability to scale to levels that surpass those of traditional payment systems such as Visa.
If you combine this exceptional scaling capability with the brand equity that has BCH relative to most of other cryptos, it is not hard to see why bitcoin cash is the future of money. The value of BCH as money is not based on hype, but on solid fundamentals. The moment people realize that using bitcoin cash is faster and cheaper than their beloved traditional methods of payments, you can expect the price of BCH coin to skyrocket to unimaginable levels.
- It’s designed to never congest
Imbedded in the design of bitcoin cash (BCH) is the ability to serve over 10 billion people without any congestions problems. That means that there would never be any failures or delays when transacting with it. That’s an aspect that will be of interest to many as they get to understand cryptos better. Once this happens, expect BCH coin to become the true digital currency that was envisioned by Satoshi Nakamoto!