Bitcoin Cash (BCH): The World's Functional Cryptocurrency
The tokens in the bitcoin core/kernel-string (segwit) chains are called BTC coins. Bitcoin Cash (BCH) is currently the only bitcoin implementation that follows the original Satoshi Nakamoto whitepaper for peer-to-peer e-money. So BCH is the only large public blockchain that maintains the original view of bitcoin as fast, frictionless e-money.
Context, Market and Mining
Since the creation of Bitcoin (BTC) in 2008, no one could have imagined the magnitude that would characterize the beginning of a wave of digital coins. By now, you have already heard and spoken about cryptocurrencies, built on a decentralized peer-to-peer network called Blockchain or Distributed Ledger Technology (DLT).
It is estimated that to date, there are more than 1,600 cryptocurrencies, according to data provided by CoinMarketCap. But according to Satoshi Nakamoto's whitepaper, there is only one real Bitcoin, one that fits the description of a functional cryptocurrency.
Therefore, it is always necessary to compare a specific number of cryptocurrencies. This with the purpose of reviewing the higher market capitalization currencies to discover which of these currencies have the best qualities of a functional cryptocurrency. For example, these 8 can be found in the top 15: Bitcoin Cash (BCH), Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Litecoin (LTC), Ripple (XRP), Dash (DASH), and IOTA (MIOTA).
Within these eight currencies, BCH contains all the attributes: it's money without borders, based on Proof-of-Work (PoW) mining with SHA256 (Secure PoW). Since compared to coins such as XRP, DASH and ETH, which have question marks over their initial distribution of coins, it is confirmed that BCH has no pre-mine.
As such, the lack of trust is not a problem for BCH and this is very important to consider, because it is a key principle for reviewing a cryptocurrency. The lack of trust in projects like these comes from open source that is verifiable by the community. And BCH is completely open source, while projects like IOTA have not yet revealed the full mechanics of the software.
Frictionless and Fees
A functional currency must be frictionless, that is, it must offer very low fees for fast and smooth transactions with immediate payment settlement. Unlike BTC, which has suffered massive delays due to its inability to escalate, BCH has no delays. While other popular cryptocurrencies also like XMR and ETH have had some problems during periods of peak use.
BCH has live projects like the Gigablock Testnet and the Terab project. These are actively designed to help the BCH scale globally. Which means scalable global money. And remember that it is the only one of the cryptocurrencies with a roadmap that seeks to continually increase the size of the block.
BCH is also the only cryptocurrency that offers a rich and vibrant multi-development team environment with many competitive customers. No equipment can be hijacked to ruin the system. In addition to the advantages of competition, the structure also helps to maintain the honesty of the development teams.
Bitcoin Cash has privacy capabilities. Users can enjoy CoinJoin to obfuscate transactions. And now with the opcodes enabled again, other methods are possible. For example, for XMR cases, it provides a default privacy standard; while DASH provides an opt-in method. In the cases of BTC and ETH, are particularly deficient in this area. BCH also has audit capability, unlike intrinsically private blockchains such as XMR.
Maturity and Stability
Projects such as EOS and IOTA, for example, require years of maturation before the overall safety and viability of BCH is established. Compared to all other cryptocurrencies, BCH offers a stable and mature technology. And given the growing popularity of virtual currencies, many are looking to do things in very interesting and innovative ways, so Bitcoin Cash offers all the possibilities.
As the only currency that follows the original Satoshi Nakamoto whitepaper, BCH has the best scaling and security features. And within its role as the world's functional cryptocurrency, BCH can do everything other platforms can do and even more. This is why all traders and companies should be invited to take a serious look at Bitcoin Cash (BCH). It is the best cryptocurrency on the market for payments and will soon be the best currency in all other areas, including smart contracts and tokens as well.
In May 2018, BCH had a network upgrade, which resulted in an increase in the block size to 32MB, which in turn meant that certain OP_Codes were also restored for advanced functionality. Combined with low friction-free costs, BCH has not only smart contracts, but also scalable contracts. As a result of the reactivation of the OP_Codes, smart contracts are now a reality for the entire BCH network. The BCH blockchain supports a wide variety of transaction types, and more is expected to be in preparation for your functional network.
Currently, the news and resources web portal CoinGeek is betting on the BCH, so they are organizing a £5 million design competition, which will put the symbolism on the BCH network. The contest is open, and offers the reward and the right conditions to enable the development and launch of other open source solutions within the BCH platform. More information about this tokenization contest can be found here: https://coingeek.com/contests/bitcoin-cash-tokenization-contest/
Developers and traders from the Bitcoin BCH community will soon be present at the first CoinGeek Week in London in November. The historic week includes a Developer Summit, a two-day bCommerce Conference and a trader-developer meeting. People can register for the event and find out when tickets are on sale at the following link: https://coingeek.com/conference/
If anyone is interested in helping the growth of merchants' adoption of Bitcoin Cash (BCH), they can join the bComm Association: an industry group that aims to be the focal point for miners, merchants, exchanges, developers and members of the BCH community.