Bitcoin Cash (BCH) - A Guide to the Cryptocurrency
Bitcoin Cash (BCH) is a cryptocurrency that was released on August 1, 2017 as a hard fork of the original Bitcoin. It aims to address the scalability issues faced by Bitcoin by increasing the block size limit from 1MB to 8MB, allowing for faster and cheaper transactions.
- Protocol Upgrade: Bitcoin Cash fixes on-chain capacity issues by implementing its upgrades mainly through hard forks instead of soft forks like Bitcoin.
- Faster Transactions: With the increased block size limit, BCH can process up to 8 times more payments per second compared to Bitcoin, resulting in faster and smoother transactions.
- Lower Fees: Due to the larger block size, Bitcoin Cash transactions generally have lower fees compared to Bitcoin, making it a more cost-effective choice for users.
- Reclaiming Bitcoin's Qualities: Bitcoin Cash aims to bring back the essential qualities of money that were filtered out of the Bitcoin Core software, such as lower fees and faster transfer times.
Market Cap and Ranking
Bitcoin Cash (BCH) is currently ranked 19th in terms of market capitalization. In the last 30 days, it has experienced a price change percentage of approximately 19%.
Bitcoin Cash is available for trading on various cryptocurrency exchanges, including DigiFinex, Binance, Bitstamp, KuCoin, Kraken, Coinbase Exchange, and many others.
For more information about Bitcoin Cash, you can visit their official website here.
Frequently Asked Questions (FAQ)
What is Bitcoin Cash?
Bitcoin Cash (BCH) is a cryptocurrency that originated from a hard fork of the original Bitcoin. It aims to address the scalability issues faced by Bitcoin by increasing the block size limit.
How does Bitcoin Cash differ from Bitcoin?
Bitcoin Cash differs from Bitcoin in terms of its block size limit, with BCH having an 8MB limit compared to Bitcoin's 1MB limit. This allows for faster transactions and lower fees on the Bitcoin Cash network.
Why was Bitcoin Cash created?
Bitcoin Cash was created to address the scalability issues faced by Bitcoin. The goal was to bring back the essential qualities of money inherent in the original Bitcoin software, which were filtered out over time.
Are Bitcoin Cash and Bitcoin SV the same?
No, Bitcoin Cash (BCH) and Bitcoin SV (BSV) are two different cryptocurrencies that resulted from a hashwar on November 16, 2018. The split resulted in the creation of Bitcoin SV and Bitcoin ABC (Bitcoin Cash).