Bitcoin (BTC) itself is a revolutionary technology and a crypto currency that operates on data ledgers and blockchain. It operates on peer to peer networks of computer worldwide and is completely decentralized, meaning it has no main server that you could just tap into and alter its confidential info and data hence making it almost impregnable.
Bitcoin (BTC) is the main figure and the trailblazers for all the crypto currencies as it is the original one, the first crypto that took the world by storm. It assures the implementation of the segregated witness (SegWit) and changed the orthodox chain scalability procedure. Bitcoin assured decentralized network and mass volume transaction protocol.
Bitcoin Cash (BCH) is a crypto currency and network that regulates and performs the transaction process. In response to bitcoin it is viewed as a strand hard fork product.
Developers wanted to change the bitcoin block size and the transaction volume, so they prepared a code change that led to the split of the bitcoin into 2 products using the technique of hard fork.
Interestingly at the time of fork anyone with the bitcoin in hand, had same number of Bitcoin (BTC) and Bitcoin Cash (BCH) in their wallet. Bitcoin cash trades on different digital market exchanges like bitstamp, coincase and shapeshift.
Difference between the BCH and BTC is because of their transactions fee, size of their data ledger i.e block and the transaction volume. BTC reportedly has a block size of 1 MB while BCH has a block size of 8MB and now is has been upgraded to 32MB recently.
Bitcoin is persistent to rely on lightening network to expand its network while bitcoin cash uses upgrade technique of its blocks to increase perform fast and cheaper transactions. BCH uses on chain solutions for its running purposes which perform millions of transactions faster and cheaper than the off chain solutions.
However even after all this BTC still leads the pack with average 200,000 transactions per day in response to 20,000 transactions per day of the BCH.
BCH’s tech is more advanced, if used to its fullest capacity can perform over 5.7 million transactions per day where as BTC can only manage 600,000 transactions on its network.
Transaction fee of BCH is far less than that of BTC. BCH transaction fee is 0.04 USD while BTC takes almost 2 USD for the transaction process.
BTC is losing its users and merchants because of BCH, BCH’s features of low fee and high volume transactions on its network sets it apart and it is gradually pulling the users towards its network, hence users have started to leave BTC for BCH.
BTC needs to look upon some of its policies and need to make some remedies if they are to stay at the top of the crypt’s financial market. BCH is giving tough competition to BTC, in order to stay dominant in the market and to become even more competitive BITCOIN needs to solve its scalability and networks issues regarding processing speed and fee.
If we view this grid on the daily scale than Bitcoin Cash (BCH) clearly has an edge on the Bitcoin (BTC) because of its features but in the sense of market cap and on the basis of users on their network Bitcoin (BTC) still leads the chart.