Aug By Mr Singh 0 7453 0 Comments
Bitcoin vs bitcoin cash

The crypto world is evolving drastically and has benefited many, with its rise and fall in the past years but for the newcomers, Interested in bitcoin trading in uganda, the booming and crashing market, recent forks, scams and fake news on bitcoin are possibly creating the mess for them.

The Evolution of bitcoin fork, bitcoin cash is one of such mess that is creating confusion for new investors. Yes! Bitcoin is not only the one. Bitcoin and bitcoin cash are 2 different cryptocurrency. To delve deeper what are they and which one is better, lets us differentiate bitcoin cash and bitcoin.

BITCOIN (BTC)

Originally, bitcoin is virtual currency just like other regular currency allows you to trade goods and services but unlike them, bitcoin works on Blockchain technology that makes it, decentralized. This indicates that it is not issued, controlled or owned by any single authority. The transaction on each block is verified by the computers.

But, everything that has pros as cons too. The problem with bitcoin was the transaction cost and speed. It takes about 10 minutes to process a transaction which is far more than when compared to bank credit cards speed. This has influenced the data miner all around the world to look for the substitute fork for bitcoin.

BITCOIN CASH (BCH)

Once originated from bitcoin itself, Bitcoin cash is initiated by miners concerning about bitcoin technology sustainability and scalability in future. This new currency has increased block size of 8 MB, which is 8 times that of traditional bitcoin size allowing the accelerated transaction, maximizing the processing speed and reducing the cost of transactions. With these pros, BCH has its fair share of some cons too. BCH with increase in transaction speed has affected attack resistant capability of bitcoin cash and raised concern for security.

Future for BTC and BCH:

BTC and BCH both have their pros and cons making it difficult to generate a clear picture of cryptocurrency future. Your choice for them entirely depends on your priority and values. For the newbie’s who are still confused on what to choose. we at else coin, one of the leading South Africa bitcoin exchange platform are ready to assist you in understanding everything you need to know on bitcoin trading in uganda.

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