A new post has surfaced on Medium detailing the potential creation of a new currency. This particular project will be known as BCash, and seemingly combines the existing Bitcoin ledger with ZCash privacy technology. Given the recent Bitcoin Cash fork, it is important to note these two projects are not the same by any means. It appears BCash wants to bring more privacy to Bitcoin users, even though there are already altcoins focusing on privacy.
BCash Is Yet Another New Cryptocurrency
A lot of people feel Bitcoin in its current form needs improvement. Despite the network’s locking in the activation of Segregated Witness not too long ago, other improvements could be made as well. Bitcoin lacks a lot of features some people want to see, especially concerning privacy and anonymity. There are a few popular alternative currencies which provide privacy and anonymity accordingly, though bringing privacy and anonymity to Bitcoin is challenging.
BCash is a project which may very well be the work of a troll more than anything else. There are a lot of so-called Bitcoin “maximalists” who feel Bitcoin Cash should be renamed BCash. Assuming the Bcash post is legitimate, that name change will not be happening anytime soon. To reiterate, the newly-announced BCash and Bitcoin Cash are two entirely different projects. One project introduces larger block sizes for Bitcoin, whereas the other does something very different.
BCash purportedly aims to merge the existing Bitcoin ledger with ZCash privacy technology. That is an intriguing prospect to consider. The project also aims to alleviate network congestion on the Bitcoin network, which could indicate a bigger block size as well. The ZCash technology will mainly be used to introduce additional privacy for all BCash users, which is something a lot of people would appreciate. According to the post, BCash will be tentatively released in Q1 of 2018.
However, this project may very well be a fake post, and it remains to be seen if BCash will effectively be a thing. The Bitcoin community would like nothing more than to see the name Bitcoin Cash erased from the history books once and for all. There is still a lot of confusion over how this altcoin should be listed on exchanges. A few platforms use BCH, whereas the majority use BCC. The latter option has caused a lot of confusion with Bitconnect Coin, which was created well before the alternative Bitcoin currency was issued.
Moreover, if the Bcash name were reserved for this Bitcoin/ZCash hybrid currency, any debates regarding the Bitcoin Cash name would become null and void. Renaming it BitcoinCash might be a better idea, as the space between Bitcoin and Cash would cause a lot of branding issues. BCash is to be issued in the same manner as was Bitcoin Cash, by taking a snapshot of the Bitcoin ledger when it launches and issuing coins to BTC holders accordingly.
It appears that BCash will be developed by FreeTrade and potentially others. Some users may recognize the name FreeTrade, who was involved in ProtoShares, MemoryCoin, and HOdlcoin. It is good to see someone with experience taking on such a project, assuming this is legitimate. It also shows we may be seeing a few more Bitcoin offspring in the future, as more unresolved issues surface among community members.