Prospect of Virtual Currency and Bitcoin Cash
Virtual currency, digital currency and crypto currency are faces of one coin which comes in paperless legal tender. It have unique cyber security features and technology which changing the financial landscape globally in quick time. The adoption of such currency has strong logics of believe in modernization of financial freedom. CBDC are best to adopt and prevent earlier from inaccuracies of finance module.
New inventions always bring easiness, quickness and smartness. These characteristics were lacking in financial field. That gap bring an idea to Satoshi Nakamoto for crypto currency in shape of Bitcoin (2008). This invention filled the gap of lacking fiat finance module in terms of time , heavier transactions, paperwork and queues. Crypto gives more edge in the reference of financial freedom due to its sovereign asset value which didn't issues by any central government and didn't have control by single authority.
No doubt crypto version of finance has high Risk for investors but those who understand it's tricky pitch gets high returns. Still it's decentralised system making it superior and safer where no one can alter, touch or modify the transaction. Bitcoin is iconic symbol in crypto currency market and trend setter but it lacking in small utility transaction capability due to its algorithm, block size and fee structure.
Crypto adoption is massive especially institutionalised one giving boost it and the chart given below of the previous year proving it.
Bitcoin Cash , A magical Crypto.
The creation of Bitcoin Cash in second halving of Bitcoin in 2017 made possible things much softer , easier and faster. It's huge block size made dream true of Satoshi. A dream to create a currency which can fill the all characteristics of fiat with extra secured and safe features.
These characteristics of Bitcoin Cash bring a new revolution in crypto world and mass crypto engagement seen around. Normal retailers and chain businesses modify the payment methods and a new world born with thousands of merchants with BCH as payment handlers. A dream comes true to send/receive the amount in lowest amount (SATs) . Is it possible in other currency? May be not , Only possible with BCH , SOL and few more.
The store value increased and Crypto reached in lower level of world like Nigeria, Pakistan, India, Venezuela, Saudi Arabia and Philippines. Bitcoin cash becomes an identity in presenting the crypto in third world countries which are high populated and have mostly young generation.
Bitcoin cash did magic in recent year when it get the place in institutional adoption with other highly ranked crypto assets like BTC, ETH ,SOL and LTC.
The data above From Cointelegraph showing its rise in June this year when it surges 300%+ . Bitcoin cash maintained that momentum until today and most possibly will go further in coming months especially when halving time arriving soon in first quarter of 2024.
Virtual currency especially crypto made life easier and it has bright future. We need to understand it's trigonometry, boundaries and chain system to be better user and beneficiary of this modern revolutionary financial freedom.
That's all for today, like and thump up on wow. Leave the feedback in comments to know your experience.
Note: The article originally published on read.cash .
Title image taken from Pixabay.
Cheers,
Amjad.
