A year ago, Bitcoin Cash has forged hard from Bitcoin Core and is celebrating its annual anniversary today, on August 1st. Bitcoin Cash was created in order to overcome the limits faced by Bitcoin Core, such as block sizes, to offer more space for transactions.
Alejandro de la Torre, Vice President of Business Operations at BTC.com, said at the time that the problem of scalability in transactions was resolved by Bitcoin Cash when it increased the size limit of the block. He added:
"Larger block sizes give each block more space to include transactions, reducing waiting time and transaction costs, making the blockchain more fluid and more accessible."
Torre also claimed that Bitcoin Cash can handle large-volume, low-cost, high-speed transactions. Currently, the Bitcoin Cash block size has been increased to 32 MB, eliminating any possibility of congestion of its network. He also cited the example of Venezuela which states that the country's inflation estimate is over 40,000%. In these countries, Bitcoin Cash can be used as an alternative payment method instead of fiat.
BTC.com is a digital platform for the bitcoin community that allows access to resources, tools and coins on the Bitcoin blockchain. The portal holds 25% of all the Bitcoin just extracted with a user base of over one million. In addition, he has extensive knowledge and experience in managing mining pools, wallets and block explorers and has processed about $ 5 billion in Bitcoin Cash and Bitcoin.
The VP of BTC.com also highlighted the engagement of the birthday coin basing its innovations on its community. Some Bitcoin Cash community-oriented applications are Memo, which is an on-chain social network and Wormhole, a layer of intelligent contract protocols created using OmniLayer. OmniLayer is also the same protocol used to model the technical aspects of Tether [USDT].
According to Torre, innovations that support the needs of the community will play a massive role in the adoption of money. Bitcoin Cash is used as a medium of exchange to meet the original purpose of the pitchfork.
In his birthday, Bitcoin Cash has set foot in 19 services, some of which are Bitpay, Coinpayments, Coingate, Coindance, Viabtc. It is also a part of 14 different projects, namely, JoyStream, OpenBazaar, Counterparty among others and is available on 41 exchanges, as stated by Torre. He also mentioned:
"Now entering its second year, BTC.com is ready to help the Bitcoin Cash community shift its focus from investment, thinking only in terms of value storage, cash, thinking as a medium of exchange for merchants and consumers. "
Recently, Roger Ver in a YouTube video of the official channel of Bitcoin.com said that Cyprus has reached a rate of adoption of 70% for Bitcoin Cash. In addition, a Bitcoin Cash supporter from Cyprus has also stated that the count of traders adopting the coin will reach 4,000 by November.