Bitcoin Cash is three months old today, but has been spreading like wildfire, as more users adopt it, drawn by lower fees. WikiLeaks, which was a rather early adopter of Bitcoin, also announced it would accept Bitcoin Cash in its shop.
And Bitcoin Cash is on track to solve its most pressing issue, the weakness in difficulty adjustment which slows down or speeds up block discovery, breaking away from the predetermined block time of 10 minutes. The upgrade to the difficulty adjustment algorithm is already available and will come into effect as a unanimously decided hard fork on November 13.
In the past weeks, accelerated Bitcoin Cash mining led to depressed prices. But as the SegWit2X hard fork seems to be seen with less enthusiasm, Bitcoin Cash also has heightened appeal, for being a big-block coin without the SegWit technology. This facilitated easier movements of the coin, which turns it into a payment protocol rather than a store of value.
Bitcoin Cash keeps being added to shops, wallets and exchanges, and only time will tell how influential the coin would be.
In the past months, the great enthusiasm for SegWit did not come with corresponding adoption. Currently, only about 8% of transactions use the new block structure, and it has not led to greater network speed. Recently, Bitcoin Unlimited (@Bitcoin Unlimit) tweeted in support of large-block Bitcoin Cash, stating that SegWit was a "technical disaster". Yet strong opinions are heard from either side of the debate.