After the emergence of the Bitcoin in 2008 that preserves the anonymity of its owners. This has made it the preferred currency since transactions are carried out with encrypted codes circulating across the network.
Bitcoin uses blocks of up to 1 MB, which allow only two or three transactions per second (about a thousand times less than what a credit card operator processes, for example). Thus, a payment in Bitcoin can take an hour to run, making it unviable for tanking the car or paying for dinner at a restaurant.
In particular, a part of the bitcoin community launched a proposal to improve the virtual currency and accelerate the exchanges that are made through its use.
A new virtual currency was born, the Bitcoin cash, following a disagreement about the speed of the transactions that revived the debate about the validity of this kind of currencies and the risks that its use carries.
Bitcoin cash uses blocks up to 8 MB, which represents a smaller wait and is expected to be easier to adopt.
That might explain why the new currency reached Wednesday quotes of up to $450. It is a shocking figure, if it is considered that Monday did not exist and if compared with the curve of the original bitcoin, it took about two years to reach a value of a dollar.
Financial sector experts say it is impossible to predict what the effect of this fracture of the world's best-known criptomoneda is, and some expressed their fear that the birth of the Bitcoin cash can cause chaos in the nascent landscape of virtual currencies.
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