 Thank you, and hello. My name is Nikita, and my last name is Java Ronkov. It's impossible to pronounce So I come from Russia and I'm developing block chair and if you use Bitcoin cash and since you So let's try it once again I'm developing block chair and if you use Bitcoin cash and there is a high chance You're using Bitcoin cash because you're all here at this conference You have most probably heard about block chair because block chair is the most popular and most widely used Bitcoin cash explorer out there We are trying to stay as innovative as the Bitcoin cash developers the Bitcoin cash community We are trying to bring new features to our platform as fast as Bitcoin cash developers Bring them to the Bitcoin cash code base. Well, for example, we were the first Bitcoin cash explorer to implement the new cash address format and thank you, Jason And yesterday the here were a talk about the group proposal and I guess and I hope we will be the first Bitcoin cash explorer to support native colored tokens on the Bitcoin cash blockchain as well so we We launched our Bitcoin cash explorer just the day before the fork happened So we have gathered a huge amount of data And I would like to share some statistics on Bitcoin versus Bitcoin cash today with you Well, of course, we have a Bitcoin explorer also and well the title is Bitcoin versus Bitcoin cash But you can call it Bitcoin versus Bitcoin Bitcoin core versus Bitcoin. Well pick whatever you like So let's start with the technical differences. Well, it's not the stats, but that what influences stats The most known and one of the most important differences is the block size limit Well, the block size limit is the reason Bitcoin cash was burned Right now in Bitcoin, we still have one megabyte block size limit for stripped block size Since segment got activated they changed the concept of block size to the block weight and now they have a limit of four mega weight units so-called weight units and but effectively The block size in Bitcoin is still limited up to one point two Or one point three megabytes. Well in Bitcoin cash, this limit is 32 megabytes Well, right now it's soft limited to eight megabytes and just like Omure said it will be lifted in the next update And that difference results in that the fact that transaction throughput is higher is larger from for Bitcoin cash So these two cryptocurrencies have different use cases The second difference is the difference is Difficulty adjustment algorithms well in Bitcoin the difficulty readjusts once in 2016 blocks while in Bitcoin cash that happens every block well that leads to the Fact that there are two different security models and two different emission curves Well, because when miners found find new blocks, they include a transaction to mint new bitcoins there And the third difference is support for segregated witness. It's Obviously it's supported in Bitcoin and it's not in Bitcoin cash But once again the Bitcoin cash developers have some clever proposals To fix millability bug in Bitcoin cash in a more convenient way Using a hard for instead of soft for And I hope that will be done too So let's get to the transaction throughput The most common transaction consists of consists of two outputs Well, the first output is for the recipient of transaction Where he gets his money for whatever for a product And the second output is for the sender himself where he puts the change and We calculated for that for such transaction with transaction with two outputs The average input count is also true. So we have two inputs to outputs and that is 386 bytes of data. Well, that means that one megabyte gives us only Gives us possibility to include only 2060 600 transactions in it So given that blocks are issued only once in 10 minutes that one megabyte limits us to Approximately for transactions for basic transactions per second So if we compare that to 32 megabytes, well 32 megabytes give us 138 transactions per second. Well, if we compare the Bitcoin architecture the architecture of Bitcoin blockchain to for example visa visa can process 24,000 transactions at peak well, for example at the Christmas Eve when everybody is buying gifts cookies Whatever and in order to have the same throughput in Bitcoin We would need five point five gigabyte blocks. Well as it has been stated it was stated yesterday There will be no problem to support one terabyte blocks Bitcoin cash in the future. So This is not as much as it seems So but in practice we see other figures well for The orange line is for Bitcoin and the green line is for Bitcoin cash. Well, the current transaction throughput Not the throughput, but the usage is Three to four transactions per second, but for Bitcoin cash, it's under one transactions One transaction per second. Why is that? Well, despite it Recently a bit pay announced that they support Bitcoin cash. Well, there isn't that much users In Bitcoin cash that as in Bitcoin If we look at the blockchain saturation we can see that blocks in Bitcoin are constantly full the blockchain is clogged so 99% of the block space is constantly full with transactions And then that's not the case for Bitcoin cash Well, Bitcoin cash has only 1% saturation and actually this is a very good thing Because it gives us a room for new use cases new products new startups, which can fill this place And in my opinion, it will be a good idea if Bitcoin cash Saturation Bitcoin cash blockchain saturation ever increases to like 20 or 30 percent to increase the block size limit once again to Adapt new use cases So and we have two remarks here to small remarks Well, first of all that the difficulty adjustment algorithm also affect the average time between blocks. That's the throughput and I will have a slide about segbit adoption in Bitcoin a little bit later so Because the cash rate in Bitcoin is constantly increasing and the difficulty Adjusts only once in approximately two weeks Bitcoin miners find blocks more frequently than the target 10 minutes So that leads to the fact that the real Thrust limit is 20% more than theoretical. Well, I'll find just before So far the Bitcoin blockchain Well, at least before segbit has been increasing not for 1 megabyte each 10 minutes But 1.2 megabyte. Well, so when Luke Dash Jr. Says that let's try to increase the block size to 1.1 megabyte Well, we already have that Let's say at the block count for both blockchains once again Bitcoin is orange Bitcoin cash is green At this slide we can see on the left side that the chart form for Bitcoin cash is Wobbling well that because that's because Bitcoin cash actually had two different Adjustments adjustment algorithms and the first one was quite buggy. It was replaced by the New one and now Bitcoin cash shows us that it is closer to the expected number of blocks per day Which is 144 then Bitcoin. So in that matter Bitcoin cash works better than Bitcoin So and here is the emission curves for two cryptocurrencies as we can see once again on the left side the chair for Bitcoin cash is Wobbling but right now the emission for Bitcoin cash is lower than for Bitcoin and somewhere in the distant future these two lines will intersect But there is a reverse side to the coin because hash rate may not only increase but also decrease for example due to a huge price drop and that would lead to The decrease of throughput. Well a possible scenario here is a downward spiral Well, the price drops the hash rate drops the throughput decreases until the next readjustment in two weeks Feast skyrocket as we have already witnessed this many many many times and The markets begin to panic. Well, I guess everyone here. So have seen Threats on various Bitcoin forums. Well, my transaction is stuck the exchange trying to rob me Bitcoin is not war is not working So the price drops even more because of the panic hash rate drops even more and we have a negative loop here So it's a bad thing for Bitcoin And let's get back to segregated witness for a moment here. We can see the adoption rate a chart for Segmit in Bitcoin right now the adoption is nearly 30% and here we can see the difference between soft-forking approach to changes and hard-forking well Segmit is here in Bitcoin for over half a year and if Segmit were implemented as a hard-fork it would instantly have 100% adoption So once again, this is why Bitcoin cash better than Bitcoin because Changes are implemented quicker And let's get back to the difficulty for a moment and here we are going to outline a problem for Bitcoin cash this time well, everyone knows that Bitcoin's cash rate is much higher than that of Bitcoin cash and That leaves Bitcoin cash vulnerable to well, of course, it's hypothetical, but it's also real 51% attack from Bitcoin miners and let's see what percentage of the current Bitcoin miners is Needed to attack Bitcoin cash. Well, it's just 11% of Bitcoin miners and that's quite a loud figure because four different Bitcoin mining pools have at least 11% of the entire hash rate in Bitcoin each that would be BTC.com which has 25% and pull 16% slash pull 12% and via BTC 11% So if any of these pools or just a huge solo miner Decides to go rogue for any reason. Well, Bitcoin cash isn't trouble Now let's get back to simpler stats. Well, here we see you can see the number of transactions Bitcoin processes approximately 1.2 million transactions weekly and This number for Bitcoin cash is just 0.2 million and we can also see here that There are more sacred transactions in Bitcoin than transactions in Bitcoin cash Now let's take a look at the money turnover in means of United States dollars the Bitcoin cash net The Bitcoin network processes approximately 100 billion dollars weekly while the same number for Bitcoin cash is 7 billion and Here we can know notice that the price of Bitcoin cash is Approximately the same 10 times lower lower than that of Bitcoin The next metric is a little bit More complicated. It's called coin days destroyed Well, coin days destroyed is calculated by multiplying the amount of coins in a transaction in a transaction By the number of days it has been since these coins were less spent. Well, for example, if I received two bit coins three days ago Well to multiply three that would be six days Coin days I would destroy if I send this transaction. Well, and this metric is the Almost the same for Bitcoin and Bitcoin cash. So if we Speak about coin Turnover it's the same for the two coins Now let's get to the average fees. It's one of the most interesting interesting metrics. Well, because love low fees is one of the main selling point for Bitcoin cash and we can see when the recent Ride happened Bitcoin fees were as high as 45 dollars per transaction in average. Well at this time I tried to purchase domain names Web hosting and I was given an option to pay with either Bitcoin or Bitcoin or PayPal and despite I consider myself a Huge Bitcoin user. I had to pay with PayPal Because well, it's quite stupid to pay $50 in fees to buy a $10.com domain name. So and the same number for Bitcoin cash is Well, it will better look on this slide is Much lower, but you you can ask me here if Nikita if you just told us that the Saturation for Bitcoin cash blockchain is almost non-existent Why the fees for Bitcoin cash are as high as 40 cents per transaction? You're at least they were a Couple of months ago. Well, that's because most Bitcoin cash wallets is still you still use Fee estimation algorithms from Bitcoin software and these algorithms were Architecture with the thought that the blockchain is constantly clogged Which is not the case for Bitcoin cash So those users of Bitcoin cash who decided to set fees manually instead of relying on an algorithm well, they Get into the Bitcoin cash blockchain just for one cent or less. Well, let's dig a little Deeper and compare median fees. Well the median fee from for Bitcoin cash, as you can see here is lower than the average Right now it's just half a cent. So 50% of all transactions in which happen on Bitcoin cash pay less than half a cent And if we deep even deeper to the 10th percentile fees, well, what's 10th percentile? It's well for for example in Bitcoin It was $14 that means that 10% of transactions paid less than $14 and the other 90% paid more well for Bitcoin cash That is just one tenth of a cent So that means that you can include a transaction in the Bitcoin cash blockchain for as low as One tenth of a cent and you can do this right now. You can try. Well, if you were buying cookies out there, I guess you Maybe you should try to Lower your transaction fee and my last metric would be the average transaction amount This is almost the same for Bitcoin and Bitcoin cash and once again, we'll try to Deep dig a little deeper The median is once again the same But at the 10th percentile we start to see the difference here between Bitcoin and Bitcoin cash So as you can see 10% of all transaction Transactions which happen on the Bitcoin cash blockchain are less than $1 in amount And if we switch to first percentile, we can see that 1% of all transactions are less For less than 10 cents and that's not the case for Bitcoin because of these enormous fees And this is why Bitcoin cash Well, it is right now open many new possibilities. Well, right like Tipping on Reddit liking posts on the yours network, which is not currently possible on the Bitcoin blockchain And as you can see it is used right now. So the Bitcoin Bitcoin cash is not about future It's about now everyone can use it now to innovate So I believe that Bitcoin cash Maybe it's has its own problems. Well, like Bitcoin, but Bitcoin cash has a Bright future and it most certainly closer to the original Satoshi's vision than Bitcoin. Thank you Thank you to Kita All right, well, I will break right through your questions if you have yep, we have time for a few quick questions. Here you go Hi, great presentation. I actually like your website. I was using it for Bitcoin stuff before I got into Bitcoin cash It was so amazing But I have a question. I'm still kind of really thinking about this RBF stuff Do you see any transactions that are chosen by miners that are not the first transaction? Yes In Bitcoin cash in Bitcoin cash now. Well, but that happens a lot in Bitcoin. Yeah But in Bitcoin cash, you never see any transactions that are chosen by Miners who use it specifically analyze that but we didn't see that. Okay. Okay. And do you see any zero-fee transactions? Yes. Yes, there are a lot of zero-fee transactions on the Bitcoin cash blockchain Well, that's sometimes is the case for Bitcoin. You can filter using block chair You can filter transactions by fees and you can just input zero and to find all the transactions with zero fees and Calculate the amount of such transactions Okay, sorry, I just I really like what you did and one more I'm kind of worried about the altruism part of Bitcoin cash that they're Expecting miners to not change the code and use the official code and not look for high fees So if if the first transactions are chosen They couldn't somebody make a transaction with a really low fee and Then you know, they have a zero-conf transaction go by a cookie and it never actually gets a Mind like is not a problem. Well, the first thing is I believe that miners are quite lazy They are using most of them are using just default settings. So It's up to developers at this point and I believe that Bitcoin cash developers has great ideas about how to do this so Zero confirmation transactions are really a thing Okay, it's a secure thing. You got to Any other questions? Okay. I wanted a back. Thanks big fan of the website the Metrics are really really important What in your view is the most important metric for the survival and success of a blockchain? And if there isn't a single One could you combine them in a certain way to come up with a formula for that? Well, I believe it's user adoption Well, and you can't put it in a formula. So well, it's the natural process which either happens or it doesn't happen All right with that let's go to coffee and give the key to a good send-off. Thank you very much, Nikita