LongHash Releases New Shock Value Worthy Report on BTC vs Bitcoin Cash Block Size and Data
The fork on Bitcoin’s chain into Bitcoin cash has now given us over 500 days of data to analyze the capacity of BCH in terms of the block size. LongHash has recently reported that BCH has never even mined a block of that size to date. Even more shocking, Bitcoin blocks have been an average of 30x larger.
Bitcoin blocks are now over 30x larger than BCH blocks.
Full article 👇https://t.co/4wYqz5BMKF
— LongHash (@longhashdata) January 17, 2019
The fork itself was a result of two schools of thought, one wanting to keep to the original idea behind Bitcoin (keep its block size at 1MB) and one wanting to expand it to something much bigger. This resulted in a break in the chain with some miners and users the following suit to mine a possible 8MB block, the idea behind it being to make verifying transactions more efficient because the larger block size allows for more transactions to be verified at once.
On top of this revelation, compared to KB Bitcoin, BCH utilizes only about 3.7% of its counterpart. Fitting, considering its market value is 3.6% of Bitcoin’s market cap.
One year ago January 15th, BCH averaged only 59% of total capacity, its largest to date and the only day in which it was over 50% capacity. This has left plenty of space and plenty of doubt.
“Some will claim that it’s a positive sign that BCH blocks are not near their capacity, but others will point to the lack of interest in BCH as concerning.”