- Bitcoin Cash BCH and Bitcoin SV Are at the Verge of Extinction After Struggling for a Long Time
- Bitcoin Cash Never Fully Recovered After the Hard fork that Separated it from Bitcoin SV
Bitcoin Cash BCH News Today – When Bitcoin Cash BCH was created, developers believed that the blockchain was going to be the one and only Bitcoin. It was such a promising project that later became popularly known as Bitcoin’s junior brother. Bitcoin Cash was supposed to be faster, more scalable, and more efficient than Bitcoin. Unfortunately, the Bitcoin Cash blockchain has failed to meet up with expectations and maybe facing extinction.
Bitcoin Cash News Today – Bitcoin Cash BCH Faces Extinction Threat
The major problem with the Bitcoin Cash blockchain started when the community started losing consensus during the last major upgrade. This was what led to the birth of Bitcoin SV. Instead of one successful update, two blockchains were born. Bitcoin Cash has been unable to recover since then. Even if the price has gone up and the market capitalization has also increased significantly since then, the network is still one of the most controversial tokens in the cryptocurrency space. Now, there is a strong chance that the Bitcoin Cash network is coming to an end.
Since the beginning of the year, some cryptocurrency projects have crossed significant milestones. Cardano is a few weeks away from launching the Cardano Shelley mainnet, Tezos, Chainlink and even Ethereum have made progress. While all these projects are making progress, neither Bitcoin Cash more Bitcoin SV has made any significant developmental progress. Right now, these two tokens are among the most irrelevant in the cryptocurrency space. The last time they had any buzz in the market was during the hardfork and nothing else has happened since then. Even the Bitcoin Cash halving event didn’t increase investor interest in the Bitcoin Cash network. Only a handful of people in the cryptocurrency community were talking about the Bitcoin Cash halving event that took place in April. It was nothing compared to the major media coverage Bitcoin got during the Bitcoin halving in May.
Bitcoin Cash (BCH) Price Today – BCH / USD
When Bitcoin Cash and Bitcoin SV separated, many people predicted that both networks were going to fail. Many of them are surprised that both networks are still in existence. One popular member of the cryptocurrency community Yassine Elmandjra recently gave a brief but vivid analysis of the Bitcoin Cash network. It was as follows;
“-Hashrate down 30% since halving (& only accounts for ~2% of SHA256 hash)
-Economic throughput at all-time lows
-Fees are .05% of miner rev (<$100/day)
-Theoretical 51% attack costs <$10k/hr
Surprised we haven’t seen a large scale attack yet
— Yassine Elmandjra (@yassineARK) May 23, 2020”