Bitcoin’s poor scalability has been an overwhelming hurdle which impedes its mass adoption. “Bitcoin Jesus” Roger Ver stated that people can’t turn to the O.G. cryptocurrency when the blocks are loaded. This explains why Bitcoin Cash fork with a block size of 8 MB is ahead of its counterpart Bitcoin which is a meagre 1 MB.
The Bitcoin Battle
The former Wall Street trader Tone Vays whose premonition that the domineering top coin could reach 98 per cent claims that by virtue of the Lightning Network solution, BTC already leads BCH. He also mentions that the only cryptocurrency which can be truly categorized as decentralized is BTC.
Tone Vays’ tweets read: “I did my best to explain to @KImDotcom that LN on top of #Bitcoin is already faster and cheaper than $BCH and will certainly be ready for a billion users in a year or two. I also explained how $BTC is the only secure/decentralized payment solution. Now up to his devs to make the call.”
The increase in Blocksize certainly provides some benefits. The transaction speed is top-notch but it has its drawbacks too. It flips the bitcoin offshoot and makes it more centralized. This sort of defeats the purpose of the industry who are looking for reasonable tradeoff and want to cut down the middlemen at any cost.
Crypto analyst Jacob Canfield try to shed some light on what pretext the Bitcoin Cash transactions are rapid. He explains the primary reason is the lack of people using the struggling fork. He is of the view that if the BCH network were made to process the huge numbers which BTC deal with every day, their speed would suffer from a downer and the speed would dwindle substantially. Ver would probably fail in an astounding way to admire the lightening speed on Twitter.
To quote his exact words :
If it processed the number of transactions bitcoin did, it would be incredibly slow and sluggish.”