Ethereum (ETH) vs Bitcoin Cash (BCH): A Comparison and Review
Bitcoin Cash (BCH)
Overview
Bitcoin Cash (BCH) is a hard fork of Bitcoin with a focus on fixing on-chain capacity issues. It aims to be a version of Bitcoin without Segregated Witness (SegWit) as a soft fork, utilizing hard forks for protocol upgrades while maintaining the original economic rules of Bitcoin.
Key Features
- Protocol upgrade to fix on-chain capacity
- Block size limit increased from 1MB to 8MB
- Allows for faster and cheaper transactions compared to Bitcoin
Reason for Creation
Bitcoin Cash was created to bring back the essential qualities of money inherent in the original Bitcoin software. With Bitcoin Core experiencing high fees and slow transaction times due to its 1MB block size limitation, Bitcoin Cash aimed to solve these scalability issues.
Ethereum (ETH)
Overview
Ethereum (ETH) is a global, open-source platform for decentralized applications. It envisions a world computer where anyone can build decentralized applications, with data and states distributed and publicly accessible. Ethereum supports smart contracts, allowing developers to program digital value.
Key Features
- Global platform for decentralized applications
- Supports smart contracts for programming digital value
- Various use cases such as tokens, decentralized finance, and more
Gas Fees
On Ethereum, transactions and smart contract executions require a fee called Gas. Gas is the unit of measure for computational effort and is paid in Ether (ETH), the native coin of the Ethereum blockchain. Gas fees can fluctuate based on network demand.