Bitcoin Cash

what is Bitcoin Cash(BCH)?

Bitcoin Cash is a peer-to-peer electronic cash system that aims to become sound global money with fast payments, micro fees, privacy, and high transaction capacity (big blocks). In the same way that physical money, such as a dollar bill, is handed directly to the person being paid, Bitcoin Cash payments are sent directly from one person to another.

As a permissionless, decentralized cryptocurrency, Bitcoin Cash requires no trusted third parties and no central bank. Unlike traditional fiat money, Bitcoin Cash does not depend on monetary middlemen such as banks and payment processors. Transactions cannot be censored by governments or other centralized corporations. Similarly, funds cannot be seized or frozen — because financial third parties have no control over the Bitcoin Cash network.

Bitcoin Cash (BCH) is an alternative to the oldest and most traded cryptocurrency - Bitcoin (BTC), only the BCH network is much faster and cheaper. In 2017, BCH developers modified the BTC code, releasing their own version of the software and a full-fledged competitive product, which split Bitcoin into two blockchains: Bitcoin / Bitcoin Cash, and consecutively, two assets - BTC / BCH. Bitcoin Cash is a clear result of a hard fork in blockchain. Moreover, another hard fork, which divided Bitcoin Cash into two parts: Bitcoin ABC and Bitcoin SV, took place in the fall of 2018.

There are several distinctive features that separate BCH from the origin. The main one remains about the block size. Blocks in the BCH blockchain can be larger, which means that more transactions can be processed at a time, so that the additional space helps to avoid higher fees. However, since the potential block size is larger, storage & audit become more costly and users may find it troublesome to download a copy of the blockchain.

From the technical perspective, Bitcoin Cash is very similar to the Bitcoin algorithm, namely: both projects have a hard cap of 21 million coins, and also use Proof-of-Work (PoW) consensus framework and nodes to verify transactions. Thus, traders can consider BCH as a hedging tool, investing in which may save them some risk.

On the plus side, due to the larger block size, Bitcoin Cash (BCH) works faster and has lower transaction fees, which makes BCH a better option for small everyday transactions. Furthermore, Bitcoin Cash supports smart contracts and ecosystem apps like CashShuffle, a coin mixing protocol, and CashFusion, a privacy-enhancing solution for the Bitcoin Cash network. These technologies have their pros and cons: thanks to CashFusion, it becomes extremely difficult to trace the path to the user's assets, however one should bear in mind that commissions are charged for each mixing, so making frequent mixed transactions may have a cost.

Bitcoin Cash provides a platform for Peer-to-Peer (P2P) payments between individuals, with the average transfer fee being as low as $0.01, and the settlement is instant. This means that Bitcoin Cash is suitable for money transfers, international trade, everyday transactions and microtransactions. In addition, Bitcoin Cash supports economic freedoms by providing an alternative form of money, protected against confiscation, any other forms of censorship and devaluation (due to inflation).

Bitcoin Cash is a decentralized network where users influence the development of the protocol. One key attribute is fixed in the code: the maximum supply of BCH is capped at 21 million coins, which is likely to remain so.

Therefore, the key features of Bitcoin Cash include the following:

• Transactions are recorded on the blockchain, the ledger is updated at regular intervals, which allows users to track the history of ownership and eliminate fraud threats promptly.
• Bitcoin Cash is an open network that can be used by anyone for free and uncensored, identities are not attached to transactions.
• Nodes that follow a set of rules (aka protocol) are responsible for the longevity of stored information. The protocol itself can be upgraded with the help of ecosystem participants, but that requires a high degree of consensus among them.
• All transactions that have ever been recorded on the blockchain are not subject to change.
• The Proof-of-Work (PoW) mechanism contributes to network security.
• Bitcoin Cash is a hard asset with the maximum supply of 21 million $BCH.
• Bitcoin Cash guarantees its users fast, affordable, and most importantly - reliable transactions without being tied to any location, which makes it a worthy replacement for existing payment networks.

What are the different types of cryptocurrency exchanges?

Binance、Coinbase Pro、OKEx、Kraken、Huobi Global、Bitfinex、MEXC

our pursuit

Latest Bitcoin Cash (BCH) news, we cover Bitcoin Cash (BCH) news and blockchain news.
Follow the continued development of Bitcoin Cash and the rise of a borderless, permissionless financial system. The evolution of the Bitcoin Cash industry, the best ways to invest in Bitcoin Cash, and how Bitcoin Cash futures impact blockchain adoption. How industry stakeholders will work to make Bitcoin Cash a mainstay in people's lives.

Follow us for the latest Bitcoin Cash news and Bitcoin Cash prices.