Choose the Right Form For Your Needs

Bitcoin cash is actually a fork of the popular and successful Linux digital currency project called Nakamotoite. This platform was built from scratch to be resistant against hacking, for which the currency is often criticized. However, in November of 2021, the developers took an opposite approach and launched Bitcoin Cash - a different form of the original. Since then, several other forks have attempted to adopt some of the features of the original. While these have done reasonably well overall, it seems as though Bitcoin cash has had an easier time gaining traction.

There are a number of reasons for this, perhaps the most important being the fact that it was released in a timely manner. Unlike most forks, which can take months to reach the point where they are usable by everyday consumers, Nakamotoite's hard work was released within three months. This meant that those who were most comfortable with the system could jump aboard before the network reached a wide scale split. This has since become a major selling point.

There are also a number of differences between the original bitcoin cash and its descendant. For instance, both offer instant transactions, meaning there is no need to wait around for money to clear your online account. However, the former fork limits the maximum size of a single transaction (the so-called relay fee) while the latter implements a policy called miner's voting. The former effectively means you can't execute two different transactions at the same time. The latter is designed to limit the amount of money you can spend on particular currencies in order to safeguard the network against "price manipulation."

On a broader scale, there are a few other differences worth noting. One is the price tag. As a matter of fact, if you were to perform an instant transaction using the original bitcoin cash software you would spend nearly seven times what you would spend on the newer forks. The seven transactions per second blocks produced by the bitcoin cash software are actually much more than the maximum number of transaction that take place per day over the course of a week on the older version.

At the end of the day, the choice between the two competing forks comes down to two things: the upgrade process and the block size limit. Each takes longer than the other. While some people believe waiting a full eight months for the upgrade to pass will be sufficient, it might not be in everyone's best interest. If you need instant transactions right away, it makes sense to get on the go with the latest version as soon as possible. For those who want to be in control of their finances, but aren't ready to embrace the radical changes brought about by the bitcoin cash software upgrade, the seven transactions per second blocks produced by the second version are preferable.

As is typically the case when looking at any type of trade involving large sums of money, the solution lies somewhere in the middle. For most users, the quicker path to profitability involves the newer version of the bitcoin cash software, which is expected to come out sometime in the near future. Meanwhile, miners are likely holding out until the castrate increases sufficiently to make the extra transactions worthwhile.