Bitcoin Cash (BCH) is the fourth-largest digital currency with a market value of around $9.22 billion, but that is dwarfed by the $114.31 billion market capitalization on standard bitcoin, the largest cryptocurrency.
As is the case with scores of other digital currencies, including bitcoin itself, slow adoption is holding back bitcoin cash. BCH was “forked” from bitcoin last year.
“Cryptocurrency advocate Roger Ver, often referred to as Bitcoin Jesus is having a tough time with the adoption of Bitcoin Cash (BCH),” reports CCN.com. “In a report published on Bloomberg, blockchain analytics firm Chainalysis says the Bitcoin fork is barely being used in commerce.”
Widespread Adoption Issues
Among the myriad issues facing bitcoin and other cryptocurrencies is adoption. As in when cryptos will become more widely accepted and used for mainstream activities, such as basic payments and money transfers, on a larger scale.
“A recent university study has endorsed Bitcoin as the next level in the evolution of money. Researchers at Imperial College London believe that cryptocurrencies are poised for mass adoption. The study which was sponsored by eToro examined the barriers to trust and mainstream adoption currently being faced by the emerging cryptocurrency movement,” reports Ethereum World News.