The fact that Bitcoin Cash (BCH) underperforms its “oldest brother” is a matter of politics to the analyst. As of July 2023, the market cap of Bitcoin Cash (BCH) is less than 0.95% of that of its original version.
Therefore, BCH’s massive adoption is simply not there. At the same time, the 14th largest cryptocurrency retains the original “Satoshi vision” and remains one of the most trending cryptos on the proof-of-work (PoW) consensus mechanism.
Bitcoin (BTC) at its current state looks like a joke to Bons due to its block size limit and “dictatorial governance.” To provide context, BCH’s block size is 32 MB compared to 1 MB of Bitcoin (BTC). This discrepancy is the most dangerous roadblock to Bitcoin (BTC) scaling and is often slammed by its critics.
As covered by U.Today previously, Bitcoin Cash (BCH) made headlines with its marvelous 70% rally.
Last week, BCH was included by EDX, a novel Citadel Securities-backed cryptocurrency exchange.
What happened to Bitcoin (BTC) looks like a tragedy to Bons, while Bitcoin Cash’s (BCH) story is a reflection of the “forking is a freedom” principle.
Justin Bons published a number of observations regarding the vulnerability of Bitcoin’s (BTC) design and security. According to him, the dictatorship of Bitcoin Core made its development progress too centralized.
Also, he is sure that the tokenomic incentives of BTC’s security model are broken and its “security budget” is doomed to fail in 5-9 years, as U.Today previously .
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
