Bitprim CEO Juan Garavaglia Talks Bitcoin Cash (BCH) Origins and Where it’s Headed
The first thing to mention about the conversation is that Mr. Garavaglia was surprised about all the developments that are taking place in the space. At the same time, he said that he expects to see lots of new products in the next months.
Furthermore, he said that there are individuals that want to focus on building the best form of electronic cash, to offer fast payments and low fees. Other developers are focused in creating a more flexible platform with more complex tasks that will gather the attention of other enthusiasts and have a greater market capitalization.
Bitcoin Cash needs to have different proposals to remain competitive against other projects with other functionalities.
And indeed, Garavaglia took the audience to the place where Bitcoin Cash first appeared, at the ‘Hong Kong Agreement’ in 2016. Miners an developers all over the world met to discuss how to help Bitcoin scale and solve the problems related to the scalability.
At that time, he realized that Segregated Witness (SegWit) as a scaling solution was not a good proposal. Indeed, he said that Bitcoin should expand to 32 MB transaction blocks rather than searching other scaling methods.
As the solutions proposed at the meeting did not satisfy everyone, the community decided to split and create Bitcoin Cash (BCH), which is now one of the most important virtual currencies in the market.
Due to this situation, Garavaglia marked that the mining community was very important to support BCH. The Argentinian company Bitprim works in order to offer different products to support different blockchains including Bitcoin (BTC), Bitcoin Cash, Litecoin (LTC), and Ethereum (ETH). The most important services are the BCH browser and explorer Blockdozer, and the Bitprim Node version of the original ‘Satoshi client.’
At the moment of writing, Bitcoin Cash is the 4th most important crypto in the market with $10.3 billion dollars market capitalization and each coin can be bought for $600 dollars.