Bitcoin was initiated in the year 2009, followed by which, due to a number of inefficiencies and drawbacks of the cryptocurrency coin, a number of hard forks along with many other cryptocurrencies well developed in order to mitigate the real-time issues. A hard fork is nothing but slight change in the working mechanism of an existing cryptocurrency coin and developing a brand new coin out of it. Until now, Bitcoin is the only cryptocurrency with the highest number of forks. Many forks have become popular due to their use cases, and many of them have completely lost among the myriad of cryptocurrencies.
Among Litecoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Dark, and many other Bitcoin forks. Bitcoin Cash has been the only one which has successfully been able to tip the popularity among the investors as well as the cryptocurrency market in general. In basically makes a small change to the cryptocurrency working mechanism. Bitcoin was experiencing issues with its scalability as a number of people started to use it for various purposes. Therefore, the block size was the limitation. Below are the five reasons which mark the Bitcoin cash rise in 2018.
1. Bitcoin Cash effectively increased the block size from 1MB to 8MB. This was highly useful as more number of transactions could be accommodated within a single block and hence scalability was mitigated. According to its working mechanism, the Bitcoin cash community as predefined that scalability would consistently be resolved at an interval of 6 years, where the block size would be increased according to the market demand. Also most recently in the year 2018 itself, the Bitcoin Cash community had come forward, in order to meet the scalability requirements and increased the block size from 8 MB to almost 32 MB. This increased the capacity by 4 times the previous capacity.
2. The Bitcoin cash rise is inevitable as the cryptocurrency coin since its inception has been receiving amazing infrastructural support and many cryptocurrency wallet providers, payment method Agencies, as well as cryptocurrency exchanges, have incorporated Bitcoin Cash. It is one of the most popular and important Bitcoin forks. The investors must consider investing in Bitcoin Cash, as the market is going to experience the Bitcoin cash rise recently. It is estimated that no other cryptocurrency coin has been able to attract so much popularity within such a small time window.
3. Its amazing support from the community members has been one of the major reasons for its sustainment in the market. It is said that the community had been formed, way before the hard work was initiated, and they even were banned from Reddit discussions, for discussing the importance of increasing the block size. They were constantly being suppressed but were stubborn enough to stick on to their idea. Also, the community members were able to improve the Difficulty Adjustment Algorithm within the Bitcoin cash working mechanism.
4. Bitcoin cash has been the closest to the vision of Satoshi Nakamoto which indirectly renders the Bitcoin cash rise. The Bitcoin cash community has successfully been able to implement a scalable blockchain network, which can be utilized be by all the members throughout the world, with low transaction fees and negligible delay. The fees are very crucial, as it is still highly unaffordable by the citizens of various developing nations across the world and Bitcoin Cash seems to care about them too. This would definitely lead to Bitcoin Cash rise in 2018.
5. The transaction fees have been one of the most prominent reasons for Bitcoin cash rise even in the past. The transaction fees are constantly kept under control through an increased block size and indirectly accommodating more number of transactions per block. As the community members are further looking forward to increasing the block size on a consistent basis the transaction fees would invariably be under control. Its constant improvement within the blockchain network has been able to make Bitcoin cash one of the cheapest in terms of transaction fees when compared to other cryptocurrencies.
Bitcoin cash rise is inevitable by the end of 2018, as more number of investors, as well as users, would come forward and incorporate the Bitcoin cash. The experts also predict that there is a lot of innovation that is to come up, with the further development in the Bitcoin cash.