Bitcoin Cash (BCH)
Bitcoin is the first cryptocurrency ever introduced in the world. Bitcoin was designed with the aim to provide peer-to-peer electronic cash payment system without involving any third party. The founder of Bitcoin, Satoshi Nakamoto is an anonymous person or society, no one knows the real identity of Satoshi and he is off the grid since 2011. Bitcoin has limited supply of 21 million coins and so far 17 million Bitcoins have been mined. According to a rough estimate, 99% of the total supply of bitcoin will be mined by 2032 and rest of the supply will be mined by 2140. Bitcoin Trading was started in 2010 and in its first year, the highest Bitcoin price was 0.34 USD. Bitcoin value increased consistently in 2011-2013 and in 2013 bitcoin crossed the mark of 500 USD. Bitcoin value dropped after the MT Gox hack. In MT Gox hack, the exchange lost around 530$ million worth of Bitcoins and for the next 3 years, bitcoin didn’t rise. In 2017, Bitcoin value started increasing and at the end of 2017, bitcoin was trading at 18,500 USD. In 2018, Bitcoin lost its 50% value after the sanctions on the major cryptocurrency exchanges in China & South Korea. In April 2018, Bitcoin is trading at the value of 9289$.Pros • Bitcoin has first mover advantage and it is listed on all major bitcoin exchanges in the world. • Bitcoin Offer Great liquidity value, you can easily convert your bitcoin into other cryptocurrencies or any fiat currency. • Bitcoin is getting popular, some of the major companies like Microsoft, Reddit, Alza, Shopify, Expedia and Newegg support the Bitcoin as a payment option. • Bitcoin limited supply makes it inflation-free. Cons • Transactions are slow as compared to the new cryptocurrencies.
Bitcoin Cash was created as a result of the hard fork which occurred in July 2017. Bitcoin Cash is one of the fast-growing cryptocurrencies in the world. It was created because of a major disagreement of increasing the Block size of Bitcoin from 1MB to 8MB. One group of Bitcoin Miners wanted to implement the Segregated Witness (SegWit) as a solution of Bitcoin scalability issue where Bitcoin Adjustable Block Cap (Bitcoin ABC) group wanted to increase the Block size to 8 MB to increase the transactions speed. Bitcoin ABC group presented the idea in “The Future of Bitcoin Conference” and with the support of BitMain and Via BTC groups they announced the hard fork and as a result Bitcoin Cash was created. Bitcoin Cash is a new cryptocurrency but they followed the unique approach to increase its acceptance. Bitcoin Cash was air dropped to the holders of Bitcoin and in this way, the owners of Bitcoin also became the owners of Bitcoin Cash. In this way, Bitcoin Cash got the success in very short time. Bitcoin Cash trading was started in August 2017 and within few months, Bitcoin Cash crossed the mark of 1000$. Bitcoin Crossed the 4000$ mark after the announcement from the Coinbase that have listed the Bitcoin Cash on their exchange. At the end of 2017, Bitcoin Cash was trading at 4100$. In 2018, Bitcoin Cash value has dropped around 60% of its value due to strict regulations and sanctions on cryptocurrencies exchanges by the countries like South Korea & China. In April 2018, Bitcoin Cash is trading at the price of 1400$.
Litecoin is one of the oldest cryptocurrencies in the world. It was invented in 2011 with the aim to improve the shortcomings of Bitcoin. Litecoin has limited supply of 84 million coins. Litecoin uses the Scrypt mining algorithm which allows the miners to join the network and contribute. Litecoin block time is also much faster than bitcoin, the average Litecoin block time is 2.5 minutes where average block time of bitcoin is around 10 minutes, so it allows Litecoin network to process the transactions much faster as compared to bitcoin transaction. Litecoin trading was started in 2011 however it got the spotlight in 2013 when its value increased from 4$ to 25$ within one week. It crossed the 100$ mark in December 2017 and at the end of 2017, it was trading at the value of 278$. In 2018, Litecoin lost 40-45% of its value as a result of sanctions on major cryptocurrency exchanges in South Korea & China. In April 2018, Litecoin is trading at the value of 160$. Pros • Litecoin transaction is much faster than Bitcoin Transaction. • Confirmation time is also very fast. • It uses Scrypt mining Algorithm which lowers the advantage of ASIC miners in the network. • Litecoin value is much stable as compared to other cryptocurrencies. • Litecoin has the advantage of being one of the oldest cryptocurrencies around. Cons • Litecoin community isn’t as strong as other major cryptocurrencies. • Litecoin has a supply of 84 million coins which mean its value will not increase like the cryptocurrencies with a limited supply of 20 or 30 million coins. • The value of Litecoin depends on the bitcoin if bitcoin go down there is a possibility that Litecoin will go down too.
- Bitcoin Cash(BCH)$292.90-1.11%