Bitcoin Blocks Are Over 30x Larger Than Bitcoin Cash BlocksBy Andy Hao
It’s been over 500 days since the years-long Bitcoin block size debate ended with a Bitcoin fork, and the creation of Bitcoin Cash. Now that we have over 500 days of data, let’s take a look at Bitcoin Cash’s choice to opt for an 8 MB block size.
The average block size of Bitcoin Cash has been 171 KB since the August 2017 fork, which represents just 2.1% of the total BCH block capacity. There has only been one day so far where BCH blocks have been more than half full. On January 15, 2018, one year ago today, BCH blocks averaged 59% of their total capacity.
Some will claim that it’s a positive sign that BCH blocks are not near their capacity, but others will point to the lack of interest in BCH as concerning. In the last 30 days, BCH blocks average only 34 KB, merely 3.7% of the roughly 923 KB Bitcoin blocks over the same time period. This is in line with BCH's value as compared to Bitcoin; BCH's market cap is currently 3.6% of Bitcoin’s market cap.
Note: BCH has upgraded to 32 MB blocks since their original 8MB fork.