Bitcoin Cash ’BCH’ – A peer to peer digital cash adopted by a mass community around the globe was created to solve the problems involved in the pure version of the coin as per the White Paper introduced by Satoshi Nakamoto. The crypto world saw an interesting year since after the fork of Bitcoin blockchain into the bitcoin cash which started its journey back last year, on 1st of August.
Addressing the supporters of Bitcoin Cash, the Vice president of the BTC.com ‘Alejandro de la Torre’ praised Bitcoin cash for solving the problem of network congestion related to data scaling. He added further:
“The ability to make forks while keeping the community aligned was a great achievement. By providing much greater bandwidth per block by first increasing to 8 MB and then again to 32 MB. This additional room is more than what is needed right now, but BCH seems to be looking ahead and getting ready to process high volumes of traffic. The greater block size also enables BCH to store more information in each transaction, giving the blockchain space to write smart contracts on-chain at low costs.”
At the time of hard fork of Bitcoin Blockchain, users that held Bitcoin received Bitcoin Cash in equal number of proportions (1 on 1). Ever since after the launch of Bitcoin Cash, there has been a constant war of words between BTC vs. BCH. However, Bitcoin Cash has been successful in establishing itself as one of the strongest cryptocurrencies in terms of market value in no time.
A year later since after its launch, merchants from all around the globe either in cities or states are now accepting bitcoin cash as a mode of payment with an average of over 20,000 daily transactions. BCH has also expanded its partnership with the top grossing companies of this era from Bitpay, Purse.io,Fancy.com, Crptocribs to cheapair etc and is also listed on more than 40 exchanges globally.
With the new goals planned for Bitcoin Cash in 2019, its expected to bring more mobile apps, more merchant payment solutions, more personal finance and bitcoin investment tools with working to achieve freedom from state, control over data, privacy and full ownership of currency for the community.