![Bitcoin cash [bch] versus bitcoin $btc [btc] [btc]: research claims bch never mined its signature 8mb block](https://ohiobitcoin.com/storage/2019/01/Screen-Shot-2019-01-19-at-11.09.47-AM.png "Bitcoin cash [bch] versus bitcoin $btc [btc] [btc]: research claims bch never mined its signature 8mb block")
bitcoin Cash, split from its parent cryptocurrency, bitcoin $BTC [BTC] in mid-2017 when proponents cried that the top crypto’s block size of 1MB was too small and could not process a lot of transactions, has had a hard time recently. The bear market had eaten up a part of its market cap, resulting in the coin perennially looming in the bear territory.
This led to the infamous bitcoin $BTC [BTC] hardfork which gave birth to bitcoin $BTC [BTC] Cash, with the vision of a new and improved bitcoin $BTC [BTC], one that could mine blocks with a whopping size of 8MB. Supporters of the new cryptocurrency advocated that BCH would take over bitcoin $BTC [BTC] because of the sheer number of transactions it could handle.
bitcoin Cash advocates wanted to fit more transactions on a single block thereby allowing better use of the cryptocurrency’s bitcoin. However, almost 18 months later, BCH’s original objective does not seem to hold true.
A report by the research group LongHash suggests that despite the lofty aims of bitcoin $BTC [BTC] Cash, it has, since its initiation, never mined a block that is 8MB in size.
LongHash reported that the average block size for bitcoin $BTC [BTC] Cash, since it split from bitcoin $BTC [BTC] in August 2017, is 171KB, which is just 2.1 percent of the 8MB limit that proponents touted.
The report stated:
“There has only been one day so far where BCH blocks have been more than half full. On January 15, 2018, one year ago today, BCH blocks averaged 59% of their total capacity.”
In terms of recent block size capacity, bitcoin $BTC [BTC] Cash has averaged only 34 KB in block size in the past 30 days, which is only 3.7 percent in comparison to bitcoin $BTC [BTC]’s block size of 923 KB, in the same period.
![Bitcoin cash [bch] versus bitcoin $btc [btc] [btc]: research claims bch never mined its signature 8mb block](https://i0.wp.com/ambcrypto.sfo2.digitaloceanspaces.com/2019/01/Screen-Shot-2019-01-19-at-11.09.47-AM.png?resize=696%2C330&ssl=1 "Bitcoin cash [bch] versus bitcoin $btc [btc] [btc]: research claims bch never mined its signature 8mb block")
Source: LongHash
Another interesting finding is that the block size comparison mirrors the market capitalization difference between the two cryptocurrencies, with bitcoin $BTC [BTC] Cash’s market cap accounting for 3.6 percent of the market cap of bitcoin $BTC [BTC].
LongHash stated:
“Some will claim that it’s a positive sign that BCH blocks are not near their capacity, but others will point to the lack of interest in BCH as concerning.”
To pile on the comparison between bitcoin $BTC [BTC] and the altcoin, Roger Ver, the CEO of bitcoin $BTC [BTC].com and major BCH proponent, posted a tweet stating that BCH in 2019 is what bitcoin $BTC [BTC] was originally intended to be. Ver accompanied his claim with the original BTC whitepaper, highlighting the original “peer-to-peer electronic cash system,” comparing it to BCH.
Roger Ver just can’t seem to escape the drama, with the BCH proponent being challenged to a “fight” by John Carvalho, better known as bitcoin $BTC [BTC] Error Log, with the fate of bitcoin $BTC [BTC].com hanging in the balance.
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Published at Sat, 19 Jan 2019 22:03:44 +0000
