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The Future Of Bitcoin Cash In 2019

Topic: Business DevelopmentPublished April 3, 2019
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IntroductionrnCryptocurrencies gained prominence in early 2017 when there was a price boom in Bitcoin (BTC) rates which reached nearly USD 20000. That was a turning point in the crypto market which payed way for many more cryptocurrencies to emerge. Due to the increasing number of transactions in the Bitcoin forum, the founders and the members made way for the emergence of Bitcoin Cash as a result of a hard fork in 2017. Bitcoin Cash is regarded as an alternative to Bitcoin. Bitcoin Cash overcomes the cons of BitcoinrnBitcoin was widely criticized for charging a higher transaction fee and slower processing speed of transactions. Bitcoin processes a single block in 10 minutes time whereas its competitors Bitcoin Cash, Ethereum and Litecoin processes transactions in a few seconds time. To reduce the transaction fee and to make way for many transactions to be processed in lesser time BCH was launched. It is widely speculated that the rates of BTC are affected by the fluctuations in the price of BCH. Bitcoin Cash has successfully entered the list of top 10 performing cryptocurrencies with its price standing at USD 82.26 right now. Cryptocurrencies are highly volatile in nature but only a few cryptocurrencies like BCH manage to uphold the interests of its users. Prospects of BCH in 2019rnBitcoin Cash may have a bright future in 2019 as the members of Bitcoin platform may migrate to Bitcoin Cash by making Bitcoin Cash to Bitcoin exchange due to a high transaction fee of Bitcoin and the densely populated platform. As the users had to wait longer in Bitcoin platform Bitcoin Cash looks promising in solving such scalability issues. Thereby, an increasing number of BCH users may influence positively in the rates of BCH. Mining of Bitcoin has also become difficult and out of the reach of many. So, there is a potential increase in the miners for BCH which proves to be more lucrative for miners. On the flip side, the dominance of Bitcoin the world’s largest cryptocurrency may prove heavy on the development of Bitcoin Cash. Bitcoin Cash is often accused of centralized authority in mining and its operations. Such allegations on Bitcoin Cash may hamper its growth in the future. The supportive development team of BCHrnBitcoin Cash is listed in some of the largest cryptocurrency exchanges like CoinSwitch, Bittrex, Bitfinex, Kukoin, Changelly and ShapeShift where investors can buy Bitcoin Cash instantly for an exchange of other cryptocurrencies. This proves the credibility of Bitcoin Cash and its legitimacy. Bitcoin Cash has a strong team which is looking to enhance the features and make it stronger and trust-worthy. Some of the features it is trying to implement are timestamping, complex scripting, reducing block time and representative tokens. rnConclusionrnOverall Bitcoin Cash is an interesting project to watch out for in 2019. Though it faces more competition from Bitcoin and other competitors the price charts of BCH is considered stable. There are some obstacles in the way of Bitcoin Cash but the constant developments of BCH may be a benefit to the bright future of BCH in 2019.

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