Difference Between Bitcoin and Bitcoin Cash
Robert M. Ryerson, a Certified Financial Planner (CFP) with more than 25 years of experience, started Crypto Currency Consultants, LLC, in 2018. Financial experts like Robert M. Ryerson can help people navigate the challenges of investing in new assets like cryptocurrency.
In 2017, Bitcoin split into traditional Bitcoin and Bitcoin Cash. While both Bitcoin and Bitcoin Cash are cryptocurrencies and use the same code to operate, Bitcoin Cash changed the size of the blocks used on the platform. This enables the blockchain to process millions of transactions per day, increasing its usability as a solution for day-to-day payments like cups of coffee and groceries.
Bitcoin and Bitcoin Cash each have their own advantages. Bitcoin Cash charges smaller processing fees for payments, due to the relative ease of processing. Bitcoin, however, has greater stability due to many mining pools, compared to just a handful of pools on Bitcoin Cash. However, Bitcoin Cash has made some technological adjustments to reduce the risk involved in a more centralized cryptocurrency.