Bitcoin Cash Reference

 

Many people have asked me about the difference between a conventional" Bitcoins" and" Bitcoins Cash". Basically, bitcoins are the currency while cash is the digital asset equivalent. It has the same characteristics as any other currency, i.e. it can be traded, stored, given away and borrowed. I will henceforth explain the difference between these two virtual currencies.

A hard Fork is a modification of protocol rules that cause existing nodes using an old version of the protocol to halt all new blocks mined by older nodes carrying the new version. This action is undertaken to give users the opportunity to move from the old hashrate to the more efficiently maintained, current version. The major benefit of a hardcore is that it creates a stronger network than the Bitcoin Cash (BC) network, resulting in less power being taken by the dishonest miners.

What makes Bitcoins Cash different than other altcurrencies is the fact that it was technically created as an open source project from the bottom up - this means it was not controlled by a group of private investors. The main creators of bitcoins are cryptographers, like cryptography was in the time of ancient Greece. It is their job to tweak the bitcoin protocol to protect the users of the currency from outside attacks. Their primary goal was to build a better internet because they believe in the value of the freedom and internet the internet provides. Bitcoin Cash Reference is a part of this freedom and internet; it is what makes the currency usable around the world.

There are other benefits besides the obvious one of building a better internet and making bitcoins usable everywhere, though. One of those is the opportunity for profit, which comes from the ability to control the supply of coins. This means you can potentially sell your old coins for the new ones in order to gain the most profits. This is also why the developers created the proof of funds method, so that people could play with the system without any investment risk. Another major benefit of the protocol is the implementation of a hard fork to handle the increased traffic that comes from the multiple full nodes. By creating the BIP10 consensus rule, the developers were able to introduce a mechanism that prevents two forks from happening at the same time.

Now, the developers have released a second major version called the Segwit2X upgrade, following up on the BIP10 hard fork that was released two months ago. This release is supposed to increase the block size once again, and implement several improvements that have been in the works for the last year or so. In the last months, a lot of discussion arose between the core developers and the upgrade team, who specialize in scalability and efficiency. Because of this, the upgrade team was unable to come to an agreement on what exactly would be done. Nevertheless, they were able to agree on adding the reference client feature, increasing the number of verified inputs to the network, adjusting the relationship between the interest rates and the supply of coins, and finally implementing the BIP100 change.

These updates represent a major victory for users that want a fair method for adjusting their virtual asset prices. Through the BIP100 hard work and the reference client, they will be able to enjoy a stronger sense of security, and make smarter decisions about how to spend their money. While not every business will take advantage of the upgrade, it is clear that the progress that has been made by the core developers over the last year has brought them one step closer to changing the world of digital currency.