Bitcoin Cash Forked Coins: A Comprehensive Overview144
The contentious Bitcoin Cash (BCH) hard fork of 2017 gave birth to several new cryptocurrencies. Each of these coins emerged with its own unique characteristics, strengths, and weaknesses. In this comprehensive guide, we will delve into the details of the five most notable Bitcoin Cash forked coins:
Bitcoin Cash ABC (BAB)
Bitcoin Cash ABC (BAB) was the result of a controversial hard fork in November 2018. It was primarily driven by developers who advocated for unlimited block size increases. BAB aimed to prioritize scalability, making it suitable for high-volume transactions.
Bitcoin Cash SV (BSV)
Bitcoin Cash SV (BSV) was created in April 2019. Led by Craig Wright, it sought to uphold the original Bitcoin protocol. BSV focused on increasing the block size limit and implementing various features, including scripting and data storage enhancements.
Bitcoin Cash Node (BCHN)
Bitcoin Cash Node (BCHN) is a fork of Bitcoin Cash that maintains the original Satoshi Nakamoto vision. It prioritizes preserving the decentralized nature of Bitcoin and adheres to conservative development practices. BCHN aims to be a stable and secure payment system.
eCash (XEC)
Formerly known as Bitcoin Cash ABC, eCash (XEC) underwent a rebranding in 2022. It is primarily focused on promoting electronic cash payments. XEC seeks to offer faster and cheaper transactions than traditional financial systems, making it a suitable option for everyday transactions.
BitcoinSV (BSV)
BitcoinSV (BSV) was officially rebranded from Bitcoin Cash SV in 2022. It maintains a strong focus on scaling and data handling capabilities. BSV aims to be the preferred platform for enterprise applications and data management, offering high throughput and support for complex smart contracts.
Comparison of Bitcoin Cash Forked Coins| Feature | Bitcoin Cash ABC (BAB) | Bitcoin Cash SV (BSV) | Bitcoin Cash Node (BCHN) | eCash (XEC) | BitcoinSV (BSV) |
|---|---|---|---|---|---|
| Block Size Limit | Unlimited | Adjustable | 32 MB | 4 MB | Adjustable |
| Transactions per Second | 200 - 300 | 1,000 - 2,000 | 10 - 30 | 100 - 200 | 4,600 |
| Scripting Language | Opcodes and op_return | Opcodes, op_return, and extended scripting | Opcodes | Opcodes, op_return, and eCash scripting | Opcodes, op_return, and BSV scripting |
| Data Storage | Limited | Extensive | Limited | Limited | Extensive |
| Smart Contracts | Limited | Turing-complete | Limited | Limited | Turing-complete |
| Consensus Mechanism | Proof of Work | Proof of Work | Proof of Work | Proof of Work | Proof of Work |
| Market Capitalization | $1.2 billion | $5.4 billion | $228 million | $670 million | $530 million |
Conclusion
The Bitcoin Cash forked coins have emerged with distinct offerings, each catering to specific use cases. These coins have contributed to the diversification and innovation within the cryptocurrency ecosystem. However, it is important to note that they also come with their own risks and challenges, and investors should conduct thorough research before making any investment decisions.
2024-12-05
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