Coin Metrics’s State of the Network report comparing Bitcoin with Bitcoin Cash and Bitcoin SV found that the two forks still have a long way to go before they can compete with any of BTC’s metrics. Both forks set out to be a better medium of exchange than BTC, but are increasingly being used as a way to record data on-chain.
Analysis of Bitcoin forks shows Bitcoin dominates Bitcoin Cash and Bitcoin SV
Separated from Bitcoin to fulfill the original promise of being peer-to-peer electronic cash, Bitcoin Cash and Bitcoin SV set out to become a fast and cheap medium of exchange. As almost two years have passed since the Bitcoin Cash fork, Coin Metrics decided to publish an in-depth analysis of the two works and compare their current state to that of Bitcoin.
In a State of the Network report published on July 29, Coin Metrics compared some of the networks’ most important metrics, including the height of the fees, number, volume, and value of transactions, the number of active addresses, block size, and hashrate.
Holy crap look at that Hashrate 🚀🌕
I literally had to made @rogerkver and Craig bigger in the info-meme to even make them visible. Like no kidding in this chart below all 3 hashrates are shown #Bitcoin #80E #BTC pic.twitter.com/7p8OGYCuAt
— Crypto Meme Central 🔞 (@CryptoScamHub) August 8, 2019
While none of the data regarding Bitcoin came as a surprise, the numbers pulled for BCH and BSV were a real eye-opener. Despite the hype surrounding BSV and a very strong BCH community,