15 reasons why you should buy Bitcoin Cash (BCC)
Aug 03, 2017 Posted / 4505 Views
What is BitCoin Cash?
Bitcoin Cash came into existence a few days back, after getting split from their parent(main) network-BitCoin, after months of anticipation. The fact behind such split is the long feud between the power-brokers on the pretext of having issues about the guidelines, rules, and regulations relating to the empowerment the digital network. The event of the split has been called as 'HardFork'. The main reason cited is that the BitCoin's data holding capacity in the blockchain is only
1MB, but due to heavy transactions on daily basis, it needs more amount of data to be stored and attached with the blockchain. This led to the split of the networks, due to its inability to become the transactional mode. But it has its own benefits and gains for the users.
The BitCoin got split into two parts, but this has just doubled the gains for the BitCoin owners. The owners who invested in BitCoin's, having their private keys, can now access the same private keys for newly emerged BitCoin Cash. That means now for one BitCoin a person will get one coin from the previous network and another one from the new network.
Few hours after the split of the network, BitCoin's value has surged 122% of the market price, reportedly. The BitCoin Cash has become third most valuable cryptocurrency after BitCoin and Ethereum. This makes the feasibility of the new digital currency very high.
The long civil war, which has led the 'HardFork', is due to the network capacity issues. Now, the owners of the BitCoin Cash can experience more amount of Network capacity which will be efficient for the blockchain system for the transactions and storing large amount of data throughout the blockchain activities, which will enlarge the block size (now 8 MB) to store more transactional data.
With the division of the cryptocurrency network, which has led to the increased network capacity, has enabled the transactions for the BitCoin Cash to take place in a rapid speed, which enables the owner to experience the transactions at a sharp speed, while adding more transactions in the blockchain.
According to the BitCoin industry leaders, it is the great opportunity for people to invest in it and especially for those people who see it as a free money, while they can invest in other things as well. There will be a major competition to see who will be able to sell them fastest.
BitCoin cash will enable the working of two chains in a peaceful, optimized way. That means the transaction now with the two simultaneous chains is possible, without causing any disruption to the user, which has maximized the scope for multi chain working. It has minimized the scope for user disruption, with replay and wipeout protection.
With the famous split of cryptocurrency, BitCoin Cash will enable owners with a special functionality of signing transactions. The owners can now sign the Input value for improved hardware wallet security and elimination of Quadratic Hashing problem.
BitCoin Cash has led to the new feature where we can transact money over the Internet in pennies. It has led to the reduction in transaction fees reduction on a high scale. So, the transaction of BitCoin Cash has become very low compared to other cryptocurrencies.
Earlier, the Bitcoin had so many loopholes in the security system, it was a bit risky to transact higher amount of BitCoins. But BCC authorities have made the transactions of BitCoin Cash quite secure. It has become more robust than other Cryptocurrencies.
BitCoin Cash has become a proven store of value, which has more stability to offer to its owners, compared to other digital currencies.
BitCoin network always had issues over congestion of data when a high amount of data was to be transferred. In this congestion, much amount of gets blocked and the transaction thus goes through many hassles. BitCoin Cash has overcome from this blockage of data problem, and thus users can experience a congestion free network for cryptocurrency transactions.
BitCoin Cash is overcoming all the drawbacks which BitCoins network had. Like BitCoin has always been a complex network for miners to mine coins, or to transact them, solve difficult coin mining maths based problems, BitCoin cash has made it easy and simple for users to handle them, in a quite a simple way.
Since the BCC is a new venture, it has high risks of volatility, but with risks, it has been foresighted that it will bring higher rewards also for the owners. The chances for greater gains have significantly increased with the developments in the rules of the BitCoin Cash.
Bitcoin has provided the members of the pool to mine BitCoin Cash. pool.bitcoin.com members can mine BitCoin Cash with their hashrate, in a way it has supported the idea of BCC. Members can mine 110% rewards with 0% fees.
With its soaring values in first few days of launch, BCC has gained a great momentum by directly entering the cryptocurrency market at the third position. Records have stated that it is rapidly increasing its hold on the digital currency market, and investing in BitCoin Cash will prove beneficial to the investors, as per the market records. Though it is still gaining hold over the globe, there are huge possibilities of BCC becoming great cryptocurrency in the future.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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