Bitcoin is the world's largest virtual currency; but in the last few months, because there is a bitcoin cash that increases rapidly in the face of the bitcoin, which has lost much of its value until this week. How did the bitcoin cash come out?
In the past months we have been bitten by a bitcoin cash bifurcated from the bitch of the crypto money's most populous. This has led to the update of the main reason for the forking mining protocol and it seems to have been completed successfully. The fact that there are no new blocks in the old chain at the time when 6 blocks are created in the new chain and that updating the whole chain together means that no new crypto coins will be created due to the old chain.
The crypto extends to SegWit2X where the money world is waiting for excitement and curiosity. After the cancellation of SegWit2X, many investors used their preferences as bitcoin cash when looking for alternatives. Moreover, those who opted for bitcoin cash were not the only investors.
The signatories of the New York compromise who wanted to do SegWit2X also turned their investments and mining forces towards Cash and if you followed it, BitCoin cash was worth $ 2,500 to $ 600. Of course, with so much of the miner's bid towards Bitcoin Cash, the miners have been hard pressed to win prizes (coins). At the same time there was a serious decline on the bitcoin side and hundreds of thousands of transactions were accumulated in the bitcosts at the level of $ 5,400, making it easy for the miners to win prizes. A group of miners who saw it changed sides again and started to mining bitcoin.
It seemed a bit confusing, but in short the miners were always looking for a crypto parlor where they could easily win prizes, and bitcoin cash wanted to make an update that would make it easier for them to know.
This successful update seems to be very important for the long-term bitcoin cash. Haipo Yang and Jiang Zhuoer, the Bitcoin cash supporters and managers of the two major mining groups, shared their confidence that this update would go smoothly.
Even hardware wallets like Ledger have done this update, and in the long run, if this update is done by all the wallets, we can say that it will be very useful for Bitcoin Cash. You know that after the SegWit update was completed successfully, this update was not done by everyone, and therefore the problems BitCoin had experienced were not resolved completely.
For this reason SegWit2X was planned but it was also canceled. All this seemingly made Bitcoin Cash.
Although the BitCoin cash payment system is getting better in terms of speed and reward, the world continues to spin around the "bitcoin". It is still a great advantage for bitcoin to be perceived as a "brand" for the first time and the name crypto money world, and for this reason the value is still quite high. We can say that these fluctuations are very well resisting, which shows that investors are more reliant on bitcoine in the long run.
We do not know what will happen in the long run, but we can say that the contest between bitcoin cash and bitcoin will get hotter soon.
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