Top Dev Renews ‘Dialogue’ on Why Ethereum Devs Would Prefer BCH Network
There is a new feature on the Bitcoin Cash (BCH) network that would make the fork of Bitcoin a darling for developers working with Ethereum, says Director of Developer Services at Bitcoin.com. BCH’s Gabriel Cardona in an interview explains how BCH and Ethereum overlap with tokens, programming and decentralized finance (DeFi) and a key aspect where BCH can do what Ethereum cannot do.
“I think, fundamentally, there are some things that Bitcoin Cash offers that Ethereum would not be able to offer,” Cardona says to CoinSpice. “I want to start with dialogue because, as far as I understand it – and I really want to know if I’m wrong here – there is a class of applications that Bitcoin Cash – with Bitcoin derivatives, things that have UTXO model basically – are able to do which account-based model – which Ethereum are and TRON – are unable to do. Even though there is a revolution of DeFi (Decentralized Finance) that’s happening with Ethereum (such that) you have things like the whole stablecoin revolution and so much happening there. Even though there is a financial revolution happening in Ethereum, from what I understand, there is an entire class of applications called non-custodial financial services which Ethereum can never do.”
Explaining the reason, Cardona notes that whenever a smart contract is created in Ethereum and it’s given money, there is the need for the users’ private keys to sign a transaction. But this is unlike the case with BCH, which he says is non-custodial, and does not have users’ private keys, thus giving users total control of their transactions.
He adds: “Again, this is the dialogue I’m trying to start right now because I believe that even though there is an amazing amount of stuff happening with DeFi and Ethereum, I believe that once we articulate and flesh out this non-custodial financial services space, there is going to be a huge wave of innovation that happens there and a lot of these people who’re doing DeFi in Ethereum are going to be drawn to Bitcoin Cash for the very reason that you can’t do these types of contracts in Ethereum.”
Cardona also believes that the community level support is crucial to expand the BCH ecosystem since the engineering part is easy. BCH – and its community – continues to project itself as a real peer-to-peer electronic cash for the world though critics maintain its network keep running that line because its network’s being fast and cheap is as a result of nobody using it.
Fundamentals matter more than short term price movements.
— Roger Ver (@rogerkver) September 27, 2019
It could be recalled that Ethereum’s lead developer, Vitalik Buterin, recently suggested using the Bitcoin Cash (BCH) blockchain as a short-term scalable data layer solution for Ethereum – as a stop-gap solution till Ethereum’s staking/sharding software is up and running. That was after he’d declared BCH as underrated and becoming interesting particularly for its getting the Schnorr signature before Bitcoin (BTC). But he later dropped the idea writing that the BCH network has a main weakness that kicks against Ethereum’s outlook: its 10 minute block time, which he says “seems unlikely to change unfortunately”.