The time in the crypto-verse seems to proceed faster than normal time. Only a year ago, on 1 August 2017, Bitcoin Cash (BCH) was launched. This means that on 1 August of this year, BCH would have turned 1 year, but it seems that the digital asset has been around for much longer.
A Brief History of Bitcoin Cash
BCH was born when a group of developers wanted to increase the size limit of the Bitcoin block and prepared a code change (hard fork) that came into effect on August 1, 2017. The fixed fork has been implemented on block 478,558. At the fork era, anyone who owned the traditional BTC suddenly had BCH in a one-to-one relationship.
When it was launched, BCH had a value of about $ 555 and will soon reach $ 4000 in its listing on Coinbase at the beginning of January. The sudden peak in value has since been the subject of investigation for insider trading at the exchange, although no illegal action has been established. BCH is currently valued at $ 792 and ranked 4th according to market capitalization.
Comment on Bitcoin Cash (BCH) by Alejandro de la Torre, vice president of corporate operations at BTC.com
Ethereum World News had the privilege of an exclusive comment by Alejandro de la Torre, VP of Business Operations of BTC.com, and of BCH on the occasion of his one-year anniversary.
Mr. de la Torre mentioned the advantages of the 32 MB block size on the BCH blockchain through the following statement:
Their last hard fork increased the block size to 32 MB, virtually eliminating the risk of any network congestion due to downsizing and way to a super-low-cost transaction highway. In countries like Venezuela, where monetary inflation is estimated at over 40,000%, the usefulness of this new blocking space to open fast and low-cost transactions as an alternative payment system to the local fiat is was more than salient
. de la Torre also commented on the intelligent contracting capacity of BCH and its on-chain social network:
Bitcoin Cash has shown a remarkable commitment to renewing the community's commitment with applications such as the social network-memo on -chain is a layer of intelligent contract protocol called Wormhole that is created using OmniLayer, the token release protocol that is the same technical basis for Tether (USDT). We think that these community-based networks can be very effective in moving the needle into the adoption of Bitcoin Cash as a medium of exchange, which is the main reason why it was bifurcated and developed.
Concludes mentioning further results of BCH in the last year:
One year after its creation, BCH continued to expand on 19 different services, eg. Bitpay, Coingate, Viabtc, Coinpayments, Coindance. Bitcoin Cash is also involved in fourteen different projects, such as OpenBazaar, Joystream and Counterparty, and can be traded on 41 different platforms. 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, money, thinking as a means of exchange for traders and consumers.
About BTC .com
BTC.com has more than one million users and 25% of all newly extracted bitcoins are made through the company. BTC.com has processed over $ 5 billion of Bitcoin (BTC) and Bitcoin Cash (BCH) since 2015. BTC.com has maintained compatibility with Bitcoin Cash since its inception a year ago and has seen first hand its development and use through its platform. BTC.com continues to develop portfolio functionality to ensure scalable, fast and low-cost transactions with Bitcoin Cash for over one million users.