How Ethereum (ETH) Will Soon Take Over Bitcoin In Australia

Bitcoin Cash split away from Bitcoin in mid-2017 with all Bitcoin holders at the time receiving corresponding Bitcoin Cash. Hence it is an altcoin that shares most of the traits of Bitcoin, such as being open, decentralised, blockchain-based, ‘mined’ for use, and with a supply limit of 21 million coins.

The difference between the two comes in when you look at their underlying goals. At the time, Bitcoin was seen as more of an asset that stored value like gold, while Bitcoin Cash advocates wanted it to be used for transactions, as a medium of exchange like cash. The Bitcoin Cash website points out that the worldwide gold market is worth only $10 trillion, while the worldwide cash market is ten times more. The company feels that BCH is more ‘usable’ and has a ‘bigger upside potential’ because of its use case as payments between people, for goods and services, and micro-transactions such as tipping content creators or rewarding app users.

BCH also claims to be ‘greener’ than Bitcoin by allowing for faster transactions at lower fees. A large cache of BCH that was tied up in the Mt Gox case is expected to be made available to owners soon, possibly causing a supply glut.

Source : https://www.businessinsider.in/investment/news/top-15-best-altcoins-to-buy-in-2021/slidelist/87717381.cms

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