Bitcoin Splits in 2: Called by BlockchainDriven Consultant
Peter Borovykh, a blockchain expert and consultant for BlockchainDriven called the Bitcoin split, which resulted as a disagreement between Bitcoin power brokers. The new cryptocurrency, Bitcoin Cash, uses a a network made up of larger blocks in order to store more information and increase processes speed which will in turn improve scalability. The old Bitcoin however still holds more weight and is less at risk of hacking.
Borovykh, author of the book Blockchain: Applications in Finance, observed that current mining of the new coin has been slower than expected so crypto investors and the blockchain world can expect the original Bitcoin to stay on top, at least for the time being. Which one dominates will ultimately depend on which cryptocurrency investors decide to trust.
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