What is the secret behind BCC’s stable ranking third in market capitalization?

Since its birth on August 1, BCC has been full of controversy. So when Bitcoin Cash was officially born on August 1, every step it took attracted much attention. From its relationship with Bitcoin to the rise and fall of prices and changes in computing power, they have all become hot topics for community discussion.

As an emerging blockchain asset, what makes BCC the most enviable to other digital currencies is that it has jumped to the third place in the world's digital currency market value in a short period of time, creating a miracle of blockchain assets. Even though the price of virtual currencies has fallen due to the influence of domestic policies, it still ranks third in market value, and even Ripple, which has always been ranked third, can hardly shake its position. What is the secret behind its ability to have such a position in a short period of time?

The necessity of BCC

To explore the secrets behind it, we have to mention its background. As we all know, with the continuous development of Bitcoin, the number of Bitcoin users and transactions around the world are constantly growing, which has also led to congestion problems in the Bitcoin network. Although the Bitcoin network has been recognized by people for its long-term development, the problem of network congestion has also brought a bad user experience to users. In particular, the high transfer fees and slow transaction speed have gradually made it lose its advantages as a trading method. In order to solve this problem, the Bitcoin community has been engaged in a three-year expansion dispute. The emergence of BCC has brought a way out to this problem and put an end to the expansion of the past three years. BCC deleted Segregated Verification ( SegWit) and cancelled the 1M block size limit, supporting a maximum block size of 8M. By increasing the size of the block, the network can accommodate more transactions at the same time, while giving users a new experience of low transaction fees and fast confirmation speed. Although BCC has changed the original intention of Bitcoin technology and is a new technical attempt, there are many uncertainties in the future. However, the emergence of BCC is not an accident, but an inevitable result.

BCC is superior to Bitcoin in many ways

Although Bitcoin has been developed for many years and is relatively mature in all aspects, BCC is superior to Bitcoin in many aspects. First, the development team is more decentralized. BTC's development team is relatively single, with only Bitcoin Core, while BCC has 5 development teams, namely Bitcoin XT, Bitcoin Classic, Bitcoin Unlimited, Bitcoin ABC, and Bitprim, which solves the problem of centralized Bitcoin development, and more teams can join in the future. The fact that Bitcoin's expansion problem has not been solved for a long time is also largely related to its single developer. Second, Bitcoin Cash has the advantage of inclusive solutions. The most important advantage of BCC over BTC is that BCC can do all the technical upgrades that BTC can do. However, BTC will refuse to do the very important and very useful technical upgrades that BCC can do. This comprehensive, developed, and rapid technical upgrade roadmap will constitute a very significant advantage for BCC. Third, the advantages of BCC's emergency difficulty adjustment mechanism are obvious. Its design is very simple and clear, and its successful implementation ensures the success and existence of BCC blockchain assets. Although this mechanism has shortcomings now, making its difficulty rise and fall not stable enough, which will cause large fluctuations in computing power, this problem will eventually be solved. Of course, in addition to these three main advantages, BCC has other advantages over Bitcoin, such as low payment fees and fast confirmation.

BCC is the common choice of users and the market

The reason why BCC has its current status is also the joint choice of users and the market. No matter how good a product is, it cannot develop for a long time without the support of users and the market. Although BCC has a short time from its creation to its development, there are many users and trading platforms that support BCC. At present, BCC has been supported by more than 100 trading markets around the world, while Bitcoin has more than 400 trading markets around the world. Many wallet providers have also begun to support BCC after repeated requests from users, such as Blockchain.info.

From this, we can see that the reason why BCC can maintain its third place in market value is not only related to the time when it was created, but also inseparable from its own advantages and market demand.