Didn't knew that BCH can upgrade block size anytime it wanted. That means theoretically scaling will never be issue as thay can keep increasing the block size as per the transaction load. And smart contracts! Does that mean ETH has a new rival?
Yup, When satoshi drew out the block size, he did so looking at the current users, and moore's law. The block size was always meant to be upgraded as adoption and computing power progressed.So ya, Scaling will never really be an issue in the foreseeable future.
And also correct. Bitcoin-Cash (BCH) will have smart contract capability that will compete with Eth.
So, can you tell me what makes BCH will try to implement the smartcontract and what's the motivation behind it? So many new platforms are doing the same like bitcoin cash just like Waves, ADA, EOS, and many more. Can't all of them to be considered a competitor to the bitcoin cash?
Smart-Contracts capability was always in the sights for Bitcoin. But since Full 1mb blocks and off chain solutions don't accommodate smart-contracts, those devs have gone to BCH.
Bitcoin-Cash is already adopted all over the place. From Bitpay, to brick and mortar retailers, and memo.cash. BCH is also on a lot of exhanges, and with fair volume. So liquidity is there. and With 32mb blocks, there will be ample head-room for more services and platform to be built upon while retaining a little-to-nothing transaction fee, and 0-confirmation security.
The implementation of Smart-Contracts via OP_codes on Bitcoin Cash is done far more simplistically than Ethereum does it, so I don't really expect to see any bugs.
