Happy Birthday BITCOIN CASH, Thanks and congratulations also to you for contributing a grain of sand every day for growing the cryptocurrency!
Hello community YOURS.ORG. BITCOIN CASH is a birthday and that fills us with happiness. Thanks to the existence and creation of this wonderful cryptocurrency we have managed to change our lives and not only our lives, but also that of our families. It is a day of Celebration is the first birthday of many who will come as we have managed to take care of him and I know that every day we will do our best to see this community grow thanks to BITCOIN CASH.
I want to celebrate this day with our community by paying tribute to those people who since Yours.org Funded, have put all their hearts day and night to see this cryptocurrency grow.
THIS ACHIEVEMENT AND THIS YEAR ALSO BEEN THANKS TO YOU FRIENDS THAT EVERY DAY PUT YOUR BEST EFFORT ... THANKS TO YOU FOR BELIEVING AS ALL OF US IN THIS PROJECT AND THIS CRIPTOMONEDA, WHICH HAS CHANGED US LIFE SINCE THE MOMENT THAT WAS BORN .
THANKS AND CONGRATULATIONS:
Let's talk and learn a little about BITCOIN CASH AND ITS FIRST ANNIVERSARY:
A year ago, Bitcoin Cash (BCH) was born after a hard bifurcation of the Bitcoin blockchain.
It has been 12 interesting months since the bifurcation gave birth to the BCH, as the proponents have continuously discussed the merits between Bitcoin (BTC) and BCH. However, on the anniversary of the creation of Bitcoin Cash, it is worth reviewing what caused this altcoin to be born and what it was intended to do.
How did BITCOIN CASH arrive?
Since its inception in 2009, the Bitcoin user base has grown steadily for most of a decade. In the last three years, this has caused some 'growth problems', since the original parameters that govern the block chain gave rise to problems with the speed and costs of transactions.
In the white paper of Bitcoin, its creator - Satoshi Nakamoto. - It establishes the technical details of an "electronic cash system of equal to equal" that allows citizens to carry out transactions without the need of a central authority.
Although you can read the Cointelegraph guide on Bitcoin here, the pre-eminent cryptocurrency is managed by a network of computers that validate and share an ongoing transaction book that requires hash-based work test algorithms to avoid double spending.
These transactions are validated and then stored in blocks by miners. Each block is limited to containing 1 MB of data before they are added to the block chain. When a miner unlocks a block, a certain amount of Bitcoin is created.
This is where the scale has recently become a problem. As more people started using Bitcoin, there was an increase in the number of transactions. The network became congested due to the volume that needed to be validated, which caused an increase in transaction fees. In short, it was getting slower and more expensive to use Bitcoin for transactions.
This finally led the Bitcoin community - comprised of large mining groups, wallet and exchange service providers and developers - to discuss ways to address these problems.
This led to what is known as Segregated Witness (SegWit), a soft bifurcation in the Bitcoin protocol that originally sought to resolve the malleability of transactions. However, it was proposed that SegWit include an update in the size of blocks from 1 MB to 2 MB, and this is where the community came to a crossroads.
SegWit was finally implemented - despite the increase in size - but some members of the community pushed for a hard bifurcation that would also implement the resizing.
Bitcoin Cash was born courtesy of a bifurcation on August 1, 2017. The Bitcoin community then celebrated the launch of SegWit on August 24.
The launch of Bitcoin Cash was a very controversial issue among the cryptocurrency community for several reasons.
As mentioned above, some members of the community were determined to participate in SegWit, including an increase in the size of the blocks to provide more capacity for transactions in each block.
When it became clear that SegWit would go ahead without this change, a group of miners planned the bifurcation, which would see a series of protocol changes - including an increase from 1 MB per block to 8 MB.
The vice president of commercial operations of BTC.com, Alejandro de la Torre, told the importance of the bifurcation:
"The ability to make forks while keeping the community aligned was a great achievement, providing much greater bandwidth per block, first increasing to 8 MB and then back to 32 MB.This additional space is more than what is needed at this time, but the BCH seems to be looking forward and preparing to process large volumes of traffic.The larger block size also allows BCH to store more information in each transaction, giving space to the blockchain to write smart contracts in the chain at low cost ".
As a bifurcation of the Bitcoin block chain, users who had Bitcoin would receive an equal number of Bitcoin Cash at the time of the bifurcation.
The Chinese mining manufacturer Bitmain was an original developer who suggested the Bitcoin Cash hard bifurcation in 2017, but later clarified the step as a contingency plan to a soft bifurcation. Amaury Séchet is credited with the first Bitcoin Cash ad, originally known as Bitcoin ABC.
Bitcoin vs. Bitcoin Cash
Since then, Roger Ver has been possibly the biggest promoter of Bitcoin Cash. His initial support for the BCH in 2017 was met with skepticism, in part due to his participation in a previous bifurcation, Bitcoin Unlimited (BU).
Ver strongly supported BU and, at one point, even claimed that he would sell his BTC holdings in favor of the bifurcated currency. However, once Bitcoin Cash was launched, the owner of Bitcoin.com seemed to get on the train.
Since then, Ver seems to have pushed an anti-BTC agenda, starting with claims that Bitcoin Cash is the "real Bitcoin" in November 2017.
As for the ideological battle between the BTC and the BCH, De La Torre suggests that the fervor between the different fields highlights the faith that different people have in the two cryptocurrencies:
"Both cryptocurrencies have clear benefits that attract users according to different interests and use cases, we do not see them as mutually exclusive, but rather as complementary currencies." BCH was created to immediately preserve Bitcoin's status as a money system electronic and its focus has remained on that goal."
The Bitcoin.com website has also faced pressure from the cryptocurrency community, with a group that has even pushed for a lawsuit against the website for using deceptive language and information.
Bitcoin Cash - in figures
While the debate BTC vs. BCH that has been developing endlessly in sight, Bitcoin Cash has established itself as one of the strongest cryptocurrencies in terms of market value.
The competition between BTC and BCH, believes De La Torre, is a vital part of the continued development of the cryptocurrency ecosystem.
"Ultimately, the use of cryptocurrencies as a digital currency is what will drive the entire industry forward. #HODL has been an appeal to many within the cryptocurrency community, but I hope that the call to #BUIDL (build solutions chain of blocks and decentralized businesses) galvanize the sustainable and practical uses of Bitcoin and BCH alike, building a new era of peer financial sovereignty that is open and accessible to all. "
According to the data of Coinmarketcap, the CIISB currently occupies the fourth place by market capitalization, with more than 13,000 million dollars. However, BTC still has a huge 47 percent of the total capitalization of the crypto market.
BTC.com was one of the first wallets to offer support for BCH, which has given the platform a unique vision of Altcoin's development. In its short year of existence, De La Torre highlighted its adoption by different services and exchanges:
"One of the most interesting metrics are the applications: BCH has expanded to 19 different services - for example, Bitpay, Coingate, Viabtc, Coinpayments and Coindance." Bitcoin Cash also participates in 14 different projects-for example, OpenBazaar, Joystream and Counterparty- and you can negotiate in 41 different bags".
Happy Birthday BITCOIN CASH, LET'S GROW TOGETHER !!