Jun 16, · Bitcoin Cash. Bitcoin Cash is a different story. Bitcoin Cash was started by bitcoin miners and developers equally concerned with the future of the cryptocurrency and its ability to scale. The Cash Shuffle protocol is still in pre-release form, but bitcoin cash users can experiment with the shuffling plugin. The Cash Shuffle platform’s server-side software is written in Go, and is designed much like the old Coin Shuffle platform, but adds a matching service. Aug 06, · Cashshuffle is a decentralized coin mixing scheme that shuffles your bitcoin cash with other network participants. The shuffling process makes it difficult for chain analysis entities to follow transactions. Since March 27, millions of dollars have been shuffled and the platform continues to be a top BCH application.
Bitcoin cash cash shuffleCoingeek to Fund the BCH Anonymizer Mixing Platform ‘Cash Shuffle’
Furthermore, the process of introducing SegWit2x as the road forward was anything but transparent, and there were concerns that its introduction undermined the decentralization and democratization of the currency. In August , some miners and developers initiated what is known as a hard fork , effectively creating a new currency: BCH. BCH has its own blockchain and specifications, including one very important distinction from bitcoin. Bitcoin Cash is thus able to process transactions more quickly than the Bitcoin network, meaning that wait times are shorter and transaction processing fees tend to be lower.
The Bitcoin Cash network can handle many more transactions per second than the Bitcoin network can. However, with the faster transaction verification time comes downsides as well. One potential issue with the larger block size associated with BCH is that security could be compromised relative to the Bitcoin network. Similarly, bitcoin remains the most popular cryptocurrency in the world as well as the largest by market cap, so users of BCH may find that liquidity and real-world usability is lower than for bitcoin.
The debate about scalability, transaction processing and blocks has continued beyond the fork which led to Bitcoin Cash. In November of , for example, the Bitcoin Cash network experienced its own hard fork, resulting in the creation of yet another derivation of bitcoin called Bitcoin SV. Bitcoin SV was created in an effort to stay true to the original vision for bitcoin that Satoshi Nakamoto described in the bitcoin white paper while also making modifications to facilitate scalability and faster transaction speeds.
Visa, Inc. Accessed Jan. Bitcoin SV. Your Money. Personal Finance. Your Practice. Popular Courses. Part Of. Bitcoin Basics. Bitcoin Mining. How to Store Bitcoin. Bitcoin Exchanges. Bitcoin Advantages and Disadvantages. Bitcoin vs. Other Cryptocurrencies. Bitcoin Value and Price. Cryptocurrency Bitcoin. Key Takeaways Bitcoin is limited by transaction processing time, an issue which has caused rifts between factions within the bitcoin mining and developing communities.
Bitcoin Cash was started by bitcoin miners and developers concerned about the future of the bitcoin cryptocurrency, and its ability to scale effectively. Article Sources. Investopedia requires writers to use primary sources to support their work.
These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. Adding privacy features to a cryptocurrency lacking such traits is not easy. It may always be considered a half-assed attempt to do so, in the end.
Privacy needs to be built into the core protocol of a currency from day one. Whether or not Cash Shuffle will make a meaningful impact, remains to be seen. It is a pretty interesting concept, although shuffling protocols are not the most privacy-centric solution. This is not a standard mixing service, mind you, as there are no fees or counterparty risks in this regard.
Cash Shuffle is open source and its code can be found on GitHub. That is a pretty smart decision by the developers, to say the least. Being able to review the code without issues will instill some trust from day one. It is pretty interesting to see how Bitcoin Cash is evolving.
While Bitcoin wants to implement privacy at some point, it remains to be seen how they will go about it. However, it still pales in comparison to proper privacy and anonymity solutions such as what we find in Monero. Still, it is a pretty interesting solution and the community has high hopes for Cash Shuffle in this regard. The big question is whether or not a lot of people will use this solution. Third-party code is always a bit iffy when it comes to sending and receiving money.
While anyone can review the code, it is still a proprietary solution. Perhaps the BCH developers will implement this new protocol into the main protocol in the future.