There are thousands of cryptocurrencies available in the crypto space today. However, not all can be considered reliable for investment in digital assets.
In this series of Know Your Digital Asset (KYDA) series, we will explore cryptocurrencies that are accepted widely by regulated exchanges and with real-case use.
What is Bitcoin Cash (BCH)?
BCH was a hard fork from Bitcoin (BTC) in 2017 by a group of developers and miners. The hard fork happened to address the scalability issues faced by BTC at that time.
Throughout the years, BCH is trying to position itself as the original definition of peer-to-peer electronic cash mentioned in Satoshi Nakamoto’s Bitcoin whitepaper.
The hard fork carries better technical components from Bitcoin, such as bigger block size, different hash algorithms, and the implementation of Emergency Difficulty Adjustment (EDA).
BCH allows faster and more transactions per second. It also offers cheaper transaction fees that can be advantageous for users and merchants.
BCH VS BTC
The debate between which is better or which is closer to the original definition of Bitcoin is still ongoing. However, both coins have their pros and cons that should help to weigh in making a decision.
For Malaysians, BCH is an approved digital asset and available on the approved Digital Asset Exchanges.