Bitcoin Cash (BCH) is pretty much a little more than any other altcoin, according to the latest crypto news which cover its fork and a bit of history since it was initiated.
Nearly 17 months after the contentious fork that split Bitcoin (BTC) and gave birth to Bitcoin Cash, if we examine the 500+ days worth of data we can see that despite all the viral news and potential promises about the 8MB block size, it never come close to filling out these capacities.
According to data from Coinmetrics, Bitcoin Cash still remains behind Bitcoin when it comes to proportional and absolute terms. Both miners and consumers have overwhelmingly chosen to remain with Bitcoin and despite the couple of market spikes, Bitcoin is still king and Bitcoin Cash remains in the shadows, unable to fulfil the promises.
The major idea behind BCH was to provide a faster and easier way to settle transactions using a larger block size as a solution. The data shows that far from filling out or getting anywhere to the desired 8 MB block size, BCH has averaged a size of 171 KB since the August 2017 fork – while Bitcoin has averaged about 934 KB of the 1 MB block capacity over the past month.
So in other words, BCH is using only 2.1% of its block capacity and averaging about 18% of Bitcoin’s block size – despite having forked in order to build bigger blocks. So far, only one day in the history of Bitcoin Cash (BCH) we saw the block size rising to about 50% (January 9th 2018) when BCH block sizes hit 59% of the 8 MB capacity before reverting to their standard.
On top of this, Bitcoin Cash has failed in terms of investment as well, getting only about 3.6% of the market cap of its ancestor, Bitcoin.
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