The key difference between Bitcoin Cash and Bitcoin
Being the first cryptocurrency in the space, Bitcoin is the father of all cryptocurrencies that now exist. However, it has many limitations, such as a small block size which allows to make a very limited amount of transactions per second. Bitcoin Cash was created as a result of long debate in the crypto-currency community about scaling Bitcoin. Keep in mind that it is the fork of Bitcoin if you want to convert BCH to BTC.
The block size of Bitcoin equals to 1 Megabyte and allows to make 7 transactions per second at the maximum. Bitcoin Cash block size is increased 8 times and thus this currency allows to make up to 56 transactions per second. Still the end users do not see much difference between these two currencies, but you might still want to convert Bitcoin Cash to Bitcoin to make money on investing in cryptos.
What is Bitcoin mining algorithm?
In order to find the new block on bitcoin and get your miner’s reward, you should utilize the Proof-of-Work (PoW) algorithm. Bitcoin can be mined only on specific hardware called ASIC which consumes electricity in order to resolve computation of problems and find the new blocks. Every new block is found basing on the previous one, thus, all blocks are linked into one chain.
What is Bitcoin Cash mining algorithm?
Bitcoin Cash uses of the same SHA256 hashing algorithm as Bitcoin, as it is in fact its clone. However, Bitcoin Cash utilizes a different difficulty adjustment algorithm, and sometimes it helps to increase the profitability for its miners in comparison with Bitcoin.
Bitcoin Cash supply
The circulating supply of Bitcion Cash equals to 18,057,887, while its maximum supply equals to 21,000,000.
For Bitcoin, the circulating supply equals to 18,123,038, while its maximum supply equals to 21,000,000.
If you want to convert BTC to BCH, the market capitalization is a very important index that you should pay attention to.
For Bitcoin Cash, the current market capitalization equals to $146,313,386,801.00. Bitcoin’s capitalization equals to $4,401,056,692.00.
Volume of transactions
During the last 24 hours, Bitcoin Cash volume of transactions has been $22,027,375,047.95. For Bitcoin, this index equals to $2,036,051,363.44.
Average transaction speed
As it has already been stated above, Bitcoin block size is very small and allows to process 7 transactions per second at the maximum. To make a transaction, you have to pay the transaction fee as well, and the smaller is this fee, the more time you have to wait. If you follow the recommendations in terms of the fee size when you convert Bitcoin to Bitcoin Cash you can expect the money to reach the recipient between 5 and 30 minutes.
Bitcoin Cash can handle 40-90 transactions per second according to estimates, so the transaction will be confirmed much faster.